SCWorx Confirms Plans for Distribution of COVID-19 Rapid Testing Units
April 17 2020 - 2:15PM
SCWorx Corp. (Nasdaq: WORX) announced today that
it confirms previously disclosed plans to distribute COVID-19 Rapid
Testing Units. Previously, the company announced receiving a
committed purchase order from Rethink My Healthcare, a U.S.-based
virtual healthcare network, for two million COVID-19 Rapid Testing
Units, with provision for additional weekly orders of 2 million
units for 23 weeks, valued at $35M per week.
Under the previously disclosed purchase order,
SCWorx will supply Rethink My Healthcare with IgM/IgG Rapid
Detection Kits. SCWorx continues to anticipate receiving the first
2 million rapid detection kits within approximately two weeks and
looks forward to providing incremental updates as they become
available.
About SCWorx Corp.
SCWorx has created The Ultraverse Platform™, an
advanced attributed virtualized item data warehouse (“VDW”)
utilizing machine learning and artificial intelligence to offer a
suite of software-as-a-service based solutions for healthcare
providers. The value proposition for customers revolves around full
integration of all solution modules with the VDW platform. The
solution modules include Virtual Item Master, contract management
and request for pricing (RFP) module, automated rebate management
module, data interoperability (EMR, MMIS, finance) module,
Automated Item Add Portal, Virtual General Ledger, and the data
analytics module. SCWorx’s Ultraverse Platform™ creates a single
source for information for healthcare providers’ data governance
and data analytics for executives.
SCWorx recently formed Direct-Worx to assist its
client base in their efforts to acquire Covid-19 related products
and services. Direct-Worx has created a Multi-Billion Dollar
Healthcare Purchasing Coalition with SCWorx customers.
Forward-Looking Statements
This press release contains “forward-looking
statements” that involve substantial risks and uncertainties for
purposes of the safe harbor provided by the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this press release
regarding strategy, future operations, future contract renewals and
terminations, future financial position, prospects, plans and
objectives of management are forward-looking statements. You can
identify many (but not all) such forward-looking statements by
looking for words such as “assumes,” “approximates,” “believes,”
“expects,” “anticipates,” “estimates,” “projects,” “seeks,”
“intends,” “plans,” “could,” “would,” “may” or other similar
expressions. You should not place undue reliance on these
forward-looking statements. Such statements are based on
management’s current expectations and involve risks and
uncertainties. Actual results and performance could differ
materially from those projected in the forward-looking statements
as a result of many factors, including, without limitation,
securing future contracts and orders, future product sourcing,
supply disruptions, containing costs, the ability to project future
cash utilization and reserves needed for contingent future
liabilities and business operations, the availability of
sufficient resources of the company to meet its business objectives
and operational requirements and other important factors that are
detailed in filings with the Securities and Exchange Commission
made from time to time by SCWorx, including its Annual Report on
Form 10-K for the year ended December 31, 2018, Quarterly Reports
on Form 10-Q, and Current Reports on Form 8-K. Matters described in
forward-looking statements may also be affected by other known and
unknown risks, trends, uncertainties and factors, many of which are
beyond the company’s ability to control or predict. SCWorx
undertakes no obligation to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
Contacts:Marc Schessel mschessel@scworx.com
Investor Contact: John Marco Managing
DirectorCORE IR johnm@coreir.com
Media Contact: Jules Abraham Director of Public
Relations CORE IR 917-885-7378 julesa@coreir.com
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