(NewsDirect)
Avricore Health CEO Hector Bremnerdiscussed the company's significant growth, partnerships, andexpansion into new markets during an interview with Steve Darling fromProactive.
Bremner shared how thesedevelopments position Avricore Health for future success, with astrong focus on the company's flagship product, HealthTab.
Bremner emphasized that the core ofAvricore Health's operations centers around HealthTab, aninnovative health monitoring solution. The company is working onexpanding the reach of HealthTab by partnering with more pharmaciesnot only across Canada but also on a global scale.
This expansion strategy aims to bringHealthTab's benefits to a wider audience and increase thecompany's market presence.
Regarding financial performance, Bremner highlighted theimpressive growth achieved by Avricore Health. Revenues for the firsthalf of 2023 reached $1,177,290, representing a remarkable 437%increase compared to the same period in the previous year. This growthwas attributed to the deployment of more HealthTab systems andincreased tests sold.
Additionally,the company's gross profit surged by 511% to $440,152, with agross margin of 37.39% — outperforming the company's targetmargin of 30%. This performance underscores the solid fundamentals ofthe company and its ability to increase scale while simultaneouslyimproving profitability.
AvricoreHealth's success story also includes its recent selection by acollaborative effort involving the renowned Barts Heart Centre and thenational cardiovascular charity HEART UK.
The company was chosento assess the feasibility of integrating cholesterol testing intocommunity pharmacies in the UK. This initiative aims to complementopportunistic blood pressure checks, assess cardiovascular risk, andexpand clinical services offered to patients.
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