TORONTO, March 18, 2021 (GLOBE NEWSWIRE) -- Medivolve Inc. (“Medivolve”) (NEO:MEDV; OTC:COPRF; FRA:4NC) is pleased to provide investors with a sales update and announces the launch of a new business to business sales strategy, including the initiative of two custom testing solutions.
On Monday, March 8th, 2021, Collection Sites launched two multi-week custom COVID-19 testing programs as part of its new business-focused testing services. Moving forward, Collection Sites will be dedicating additional efforts to securing testing contracts with businesses across the United States to provide custom testing solutions.
The first program is with a TV & Film production studio based in Los Angeles, where Collection Sites staff provide 24 hour PCR test results on-site for crew, talent and staff in accordance with the required COVID-19 testing policies. The testing program will last four weeks, with approximately 500 PCR tests expected to be completed.
The second program is with the athletics department of a school district in Redlands, California. Collection Sites will supply and conduct on-site rapid antigen tests on students, athletes, and staff as required by the athletics department. The testing program will last until the end of June 2021, where up to 3,750 rapid antigen tests can be completed over the period.
February Sales
During the month of January, the Company realized the sale of 30,717 tests at an average sale price of $98 per test across its network. Approximately 59% of the sales were cash pay, with the balance as insurance sales. The Company continued to see the strongest demand for antigen tests, followed by antibody and then PCR.
“In February we saw another solid month of sales with over 30,000 tests conducted across our network. While we experienced some operating challenges due to winter weather, particularly in Texas and along the east coast during the month, we are still very happy with the sales results,” commented Medivolve CEO Doug Sommerville. “As vaccination efforts rollout, we anticipate retail demand to soften and as such are turning to exciting new sales initiatives focused on custom testing solutions for businesses. While COVID cases have receded across America, we believe the need for proper testing will remain for the foreseeable future. This also highlights the strategic importance of our telehealth initiatives and the launch of a disruptive and sustainable business model that helps to provide accessible and convenient medical services to our patients.”
Upcoming Corporate Webinar
Medivolve is pleased to announce it is hosting a Corporate Update webinar, on Tuesday, March 23rd at 1 pm ET that will provide investors with an update on the Company's recent business developments.
Registration Link: https://us02web.zoom.us/webinar/register/WN_tmyDKJWYQTGoviFFM1zq7Q
Specifically, the webinar will feature Medivolve CEO Doug Sommerville and Dr. Glenn Copeland to elaborate on Collection Sites’ telehealth strategy. Dr. Glenn Copeland is a medical advisor to Medivolve and CEO of Glenco Medical, a Medivolve partner company. With Dr. Copeland’s guidance, Medivolve and Collection Sites are developing telehealth plans that include remote patient monitoring and virtual care, among other offerings. Collection Sites intends on leveraging its network of sites and large customer database to market these new services and launch a series of mobile clinics.
About the Collection Sites
The pop-up labs will be managed by Las Vegas based company Collection Sites, LLC and powered by Alcala Testing and Analysis Services, a CLIA-licensed laboratory based in San Diego, California. Appointments and payments will be handled through an online portal www.testbeforeyougo.com.
The key to flattening the curve is to increase testing.
The testing centers will offer convenient access to rapid antibody and antigen (pending availability) tests - which take 8-10 minutes to administer and provide results within 24 hours. The sites also offer regular RT-PCR. All tests can be administered with insurance coverage options. The tests results can be communicated via text or email and can be accompanied with a certificate of good health via a HIPAA-compliant smartphone application.
For more information about the pop-up lab, the available sites and services visit www.testbeforeyougo.com.
About Medivolve Inc.
Medivolve Inc. (NEO:MEDV; OTC:COPRF; FRA:4NC) seeks out disruptive technologies, ground-breaking innovations, and exclusive partnerships to help combat COVID-19 and generate remarkable risk-adjusted returns for investors. Specifically, Medivolve offers investors a diversified investment in the COVID-19 medical space across three areas: prevention, detection, and treatment.
Medivolve has a team of renowned global medical and business advisors that have developed a proprietary business strategy to capitalize on high-margin opportunities in the COVID-19 space. This panel includes prominent immunologist Dr. Lawrence Steinman and Dr. Glenn Copeland, who has 45 years of experience in orthopaedic treatment, foot and ankle care, and sports medicine.
Medivolve’s primary focus is to provide convenient and assessable medical services for testing of the COVID-19 virus to help combat the pandemic. This is achieved largely through two acquisitions: 100% of Collection Sites, LLC and 28% of Colombian Sanaty IPS. Collection Sites is setting up a series of COVID-19 testing sites across the United States with appointments and payments to be handled through the online portal www.testbeforeyougo.com. Sanaty is setting up a series of full-service medical clinics offering a complete COVID-19 testing solution.
For additional information, please contact:
Doug Sommerville, CEO
Doug.Sommerville@medivolve.ca
For investing inquiries please contact:
info@medivolve.ca
For US media enquires please contact:
Veronica Welch
veronica@vewprmedia.com
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to sales results; the proposed roll-out of business testing; the Company’s expansion into telehealth; projected timelines for testing results; projected revenues from the testing; the pursuit by Medivolve of investment opportunities; and the merits or potential returns of any such investments. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.