(NewsDirect)
G Medical Innovations HoldingsLtd . (NASDAQ: GMVD), a telehealth, medical device, and remotepatient monitoring company providing clinical-grade solutions forconsumers, medical professionals, and healthcare institutions, todayannounced that it has secured a 26,000 square foot site in Laguna, CA,to open one of the largest COVID-19 test processing laboratories inthe United States for its G Medical Labs, Tests and Services division.
“The newfacility will enable us to process a dramatic increase in samples wehave begun receiving via the distribution success of our LiveNowAt-Home PCR test kits developed in partnership with McDade Products,LLC. The first million test kits began shipping to retailersnationally last week, and millions more will be on retailers’shelves in the coming weeks,” said Dr. Yacov Geva, President, andCEO of G Medical Innovations.
The Laguna lab will enable the company to processapproximately 100,000 samples per day. The site will also offersame-day, walk-in COVID-19 PCR testing for the general public and hasthe capacity to process samples for other labs and entities thatrequire expedited results. The facility is expected to open by nextweek.
In January,Pittsburgh-based McDade Products, LLC and G Medical Tests and Servicespartnered to make millions of FDA EUA-approved COVID-19 PCR collectiontest kits available for retailers in response to a national shortageof COVID-19 test options. The LiveNow COVID-19 PCR Test CollectionKits provide 24 to 48-hour certified lab results and retail for $9.99.Visit https://www.mcdadegrp.com/ toplace orders for the LiveNow PCR Collection Kits.
G Medical Labs, Testsand Services currently operates storefront testing locations inCalifornia. During the next few months, the company expects to expandits network of storefront testing locations in other U.S. regions tobe announced at a later date.
About G Medical Innovations
G Medical Innovations Holdings Ltd. is anearly commercial-stage healthcare company engaged in the developmentof next-generation mHealth and telemedicine solutions and monitoringservice platforms. The Company’s solutions and services can empowerconsumers, patients, and providers to better monitor, manage andimprove clinical and personal health outcomes, especially for thosewho suffer from cardiovascular disease (or CVD), pulmonary disease,and diabetes. The Company’s current product lines consist of itsPrizma medical device (or Prizma), a clinical-grade device that cantransform almost any smartphone into a medical monitoring device,enabling both healthcare providers and individuals to monitor, manageand share a wide range of vital signs and biometric indicators; itsExtended Holter Patch System, a multi-channel patient-worn biosensorthat captures electrocardiography (or ECG) data continuously,including its QT Syndrome Prolongation Detection Capabilities Patch.In addition, the Company is developing its Wireless Vital SignsMonitoring System (or VSMS), which is expected to provide full,continuous, and real-time monitoring of a wide range of vital signsand biometrics. Its monitoring services include provision ofIndependent Diagnostic Testing Facility (or IDTF) monitoring servicesand private monitoring services. Visit https://gmedinnovations.com/ .
About McDadeGroup
McDadeProducts is a division of McDade Group, a privately held specialtysales, marketing, and distribution company serving the U.S. retailindustry. Founded in 1994, McDade Group is a growingand dynamic sales, marketing, and distribution services companyheadquartered in Pittsburgh, PA. The company has expanded to providesolutions 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: .
Forward-LookingStatements
This press release contains forward-looking statements withinthe meaning of the “safe harbor” provisions of the PrivateSecurities Litigation Reform Act of 1995 and other Federal securitieslaws. Words such as “expects,” “anticipates,” “intends,”“plans,” “believes,” “seeks,” “estimates,” and similarexpressions or variations of such words are intended to identifyforward-looking statements. For example, G Medical is usingforward-looking statements when it discusses opening one of thelargest COVID-19 test processing laboratories in the United States,that the new facility will enable the company to process a dramaticincrease in samples, distribution of At-Home PCR test kits, theprocessing capacity of the Laguna lab, and that it will offersame-day, walk-in COVID-19 PCR testing, the timing of the opening ofthe facility, and that during the next few months, the company expectsto expand its network of storefront testing locations in other U.S.regions to be announced at a later date. Because such statements dealwith future events and are based on G Medical’s and McDadeProducts’ current expectations, they are subject to various risksand uncertainties, and actual results, performance, or achievements ofG Medical and McDade Products could differ materially from thosedescribed in or implied by the statements in this press release. Theforward-looking statements contained or implied in this press releaseare subject to other risks and uncertainties, including thosediscussed under the heading “Risk Factors” in G Medical’sprospectus filed pursuant to Rule 424(b)(4), filed with the Securitiesand Exchange Commission (“SEC”) on June 28, 2021, the registrationstatement on Form F-1 filed on January 31, 2022 (registration no.333-262422) and in any subsequent filings with the SEC. Except asotherwise required by law, the companies undertakes no obligation topublicly release any revisions to these forward-looking statements toreflect events or circumstances after the date hereof or to reflectthe occurrence of unanticipated events. References and links towebsites have been provided as a convenience, and the informationcontained on such websites is not incorporated by reference into thispress release. G Medical and McDade Products are not responsible forthe contents of third-party websites.
Investor Relations CONTACT:
G Medical Innovations
Kobi Ben-Efraim, CFO +972 8-958-4777 |
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