PreCheck Health to Exclusively Distribute Coronavirus COVID-19 Test in Ecuador, a Population of 16 Million, for Co-Diagnostic...
March 13 2020 - 8:00AM
Business Wire
Initial 30,000 coronavirus (COVID-19) tests
ordered
PreCheck Health Services, Inc. (OTC: HLTY), a provider of
medical screening devices which provide data to assist physicians
in preventing and treating chronic diseases, through its Latin
American Division, entered into an exclusive agreement with
Co-Diagnostics, Inc. (Nasdaq: CODX), to distribute Co-Diagnostic’s
Logix Smart™ Coronavirus COVID-19 Test in Ecuador, which has a
population of 16 million. PreCheck has ordered an initial 30,000
COVID-19 tests and will be registering the product in Ecuador.
Justin Anderson, CEO of PreCheck Health Services Inc.,
commented, “It’s been a productive month for PreCheck Health. In
early March we entered into the $33 billion global infectious
disease diagnostic testing sector with an exclusive agreement with
Co-Diagnostics to distribute their COVID-19 tests as well as other
infectious disease kits in Russia. We are pleased to announce today
that we have expanded our relationship with a distribution
agreement for Ecuador. The decision for PreCheck to distribute for
Co-Diagnostics and specifically their Logix Smart™ Coronavirus
COVID-19 Test is due to the test’s excellent characteristics in
terms of sensitivity and specificity, the two benchmarks for
accuracy in PCR tests. In today’s global crisis where governments,
professional sports, college sports and public schools are being
closed or suspended on the basis of a single test, we felt that
high accuracy was critical for our comfort level, resulting in our
decision to choose Co-Diagnostics.”
Co-Diagnostics CEO Dwight Egan commented, “We are pleased to
enter into these agreements with PreCheck. They are part of a
strong demand we are experiencing for our Covid-19 tests. The
agreements also highlight Co-Diagnostics’ commitment to supporting
the global response to coronavirus. As such, we are delighted to
have PreCheck as a customer, focused on distributing these products
in Russia and Ecuador.”
Further information is available in the Company’s regulatory
filing, which can be accessed at www.sec.gov.
About PreCheck Health Services, Inc.
PreCheck Health Services, Inc. provides a medical screening
service, which makes early detection and monitoring of chronic
diseases easy and cost-effective for patients and doctors. The
Company distributes a non-invasive medical screening device which
screens for biomarkers, which are precursors to chronic disease.
The device assesses sudomotor function, cardiac autonomic function,
and endothelial function and measures the ankle brachial indices.
In addition, the device calculates a patented cardiometabolic risk
score based on these assessments and measurements, body
composition, vital signs, and fitness markers. Cardiometabolic risk
refers to the chance of having or developing diabetes, heart
disease, or stroke. This device is targeted at the rapidly growing
$139 billion global preventive healthcare technologies and services
market, according to Grand View Research. The Company has an
experienced management team with several decades of combined
experience in medical testing services and medical device sales.
The technology has been developed to address the growing mandates
from Medicare, Medicaid, and insurance companies regarding early
detection and prevention of chronic diseases.
PreCheck Health Services’ offering is based on the Company’s
PC8B, an FDA-cleared and patented medical screening device, which
performs a range of screening tests generally covered and
reimbursed by Medicare, Medicaid, and most insurance companies. The
non-invasive diagnostic tests are performed simultaneously,
collectively taking under 10 minutes to perform and screening
patients for multiple risk factors underlying certain chronic
ailments, such as insulin resistance, cardiovascular disease
(including PAD), endothelia dysfunction, digestive problems, and
fatigue. The PC8B’s software helps the physician recommend a
treatment plan for the patient.
Disclaimer for Forward-Looking Information
Certain statements contained in this press release, including,
without limitation, statements containing the words “believes,”
“anticipates,” “expects” and words of similar import, constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve both known and unknown risks and uncertainties.
The Company’s actual results may differ materially from those
anticipated in its forward-looking statements as a result of a
number of factors, including our ability to obtain substantial
funding required for our operations; our ability to market our
product to physicians, our ability to generate a gross margin from
any sales we may make; our dependence upon a sole suppliers for our
products and our reliance of the supplier to protect its
intellectual property incorporated in our product; our ability to
obtain rights to and to market successfully market products, our
ability to develop the business of these businesses, as well as
other risks contained in “Forward Looking Statements,” “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in the Company’s Form 10-K for
the year ended December 31, 2018 and in “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” in
its Form 10-Q for the quarter ended September 30, 2019, and any
information contained in any other filings we make with the
SEC.
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Brett Maas Hayden IR (646) 536-7331
brett@haydenir.com
James Carbonara Hayden IR (646)-755-7412
james@haydenir.com
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