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G Medical Innovations HoldingsLtd . (NASDAQ: GMVD) announced today that more than 200,000 of its LiveNow COVID-19 PCR collection kit tests are nowavailable at more than 4,000 Circle K convenience storesnationally. Another 300,000 kits will ship to the retailer within thenext few weeks.
The kits are expected to generate approximately $12 million inrevenue, based on the expected return of at least 100,000 kit samplesto the company’s testing lab. Circle K is one of the largestindependent convenience store operators in the United States.
“As a result of ourhighly successful partnership with McDade Products for branddevelopment and national retail distribution, millions more of the LiveNow PCR Collection Kits are in production.They will continue to ship to Circle K stores and will fulfillsignificant orders for kits from other national retailers to beannounced soon”, said Dr. Yacov Geva, President and CEO of G MedicalInnovations.
Inresponse to a national shortage of COVID-19 test options,Pittsburgh-based McDade Products, LLC and G Medical Tests andServices, a division of G Medical Innovations, partnered in January tomake several million COVID-19 PCR collection kit tests available forretailers. G Medical Innovations is a telehealth, medical device, andremote patient monitoring company providing clinical-grade solutionsfor consumers, medical professionals, and healthcare institutions.McDade Products is a division of McDade Group, a specialty sales,marketing, and distribution company serving the U.S. retail industry.
The LiveNow diagnostic PCR (polymerase chainreaction) test detects the presence or absence of SARS-CoV2, the virusthat causes COVID-19. The PCR test type, which requires approved labcertification, has been widely recognized as more accurate because itis more sensitive than antigen tests.
Visit https://www.mcdadegrp.com/ toplace orders for the LiveNow PCR Collection Kits.
About McDadeGroup
Foundedin 1994, McDade Group is a growing and dynamic sales, marketing, and distribution servicescompany headquartered in Pittsburgh, PA. The company has expanded toprovide solutions in distribution, category management, full-servicemerchandising, and consulting across the U.S. retail industry. Many ofthe world’s leading CPG manufacturers rely on the ability of McDadeGroup to build strong industry relationships and deliver services,insights, and expertise for hundreds of their products. Visit: https://www.mcdadegrp.com/ orLinkedIn: .
About G MedicalInnovations
GMedical Innovations Holdings Ltd. is an early commercial-stagehealthcare company engaged in the development of next-generationmHealth and telemedicine solutions and monitoring service platforms.The Company’s solutions and services can empower consumers,patients, and providers to better monitor, manage and improve clinicaland personal health outcomes, especially for those who suffer fromcardiovascular disease (or CVD), pulmonary disease, and diabetes. TheCompany’s current product lines consist of its Prizma medical device, a clinical-grade device that can transform almost any smartphoneinto a medical monitoring device, enabling both healthcare providersand individuals to monitor, manage and share a wide range of vitalsigns and biometric indicators; its Extended Holter Patch System, amulti-channel patient-worn biosensor that captures electrocardiography(or ECG) data continuously, including its QT Prolongation SyndromeDetection Capabilities Patch. In addition, the Company is developingits Wireless Vital Signs Monitoring System (or VSMS), which isexpected to provide full, continuous, and real-time monitoring of awide range of vital signs and biometrics. Its monitoring servicesinclude provision of Independent Diagnostic Testing Facility (or IDTF)monitoring services and private monitoring services. Visit https://gmedinnovations.com/ .
Forward-LookingStatements
This press releasecontains forward-looking statements within the meaning of the “safeharbor” provisions of the Private Securities Litigation Reform Actof 1995 and other Federal securities laws. Words such as“expects,” “anticipates,” “intends,” “plans,”“believes,” “seeks,” “estimates,” and similar expressionsor variations of such words are intended to identify forward-lookingstatements. For example, G Medical is using forward-looking statementswhen it discusses delivery of purchase orders, anticipated revenue,production of additional LiveNow PCR Collection Kits, that it willcontinue to ship to Circle K stores and will fulfill significantorders for kits from other national retailers to be announced soon.Because such statements deal with future events and are based on GMedical’s and McDade Products’ current expectations, they aresubject to various risks and uncertainties, and actual results,performance, or achievements of G Medical and McDade Products coulddiffer materially from those described in or implied by the statementsin this press release. The forward-looking statements contained orimplied in this press release are subject to other risks anduncertainties, including those discussed under the heading “RiskFactors” in G Medical’s prospectus filed pursuant to Rule424(b)(4), filed with the Securities and Exchange Commission(“SEC”) on June 28, 2021, the registration statement on Form F-1filed on February 14, 2022 (registration no. 333-262724) and in anysubsequent filings with the SEC. Except as otherwise required by law,the companies undertake no obligation to publicly release anyrevisions to these forward-looking statements to reflect events orcircumstances after the date hereof or to reflect the occurrence ofunanticipated events. References and links to websites have beenprovided as a convenience, and the information contained on suchwebsites is not incorporated by reference into this press release. GMedical and McDade Products are not responsible for the contents ofthird-party websites.
Contact Details
GMedical Innovations
Kobi Ben-Efraim, CFO
+9728-958-4777
CompanyWebsite
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