We follow a formal homogenization approach to investigate the effects of mechanical deformations in electrophysiology models relying on a bidomain description of ionic motion at the microscopic level. To that purpose, we extend these microscopic equations to take into account the mechanical deformations, and proceed by recasting the problem in the framework of classical two-scale homogenization in periodic media, and identifying the equations satisfied by the first coefficients in the formal expansions. The homogenized equations reveal some interesting effects related to the microstructure - and associated with a specific cell problem to be solved to obtain the macroscopic conductivity tensors - in which mechanical deformations play a non-trivial role, i.e. do not simply lead to a standard bidomain problem posed in the deformed configuration. We then present detailed numerical illustrations of the homogenized model with coupled cardiac electrical-mechanical simulations - all the way to ECG simulations - albeit without taking into account the abundantly-investigated effect of mechanical deformations in ionic models, in order to focus here on other effects. And in fact our numerical results indicate that these other effects are numerically of a comparable order, and therefore cannot be disregarded.