(NewsDirect)
PITTSBURGH, PA – McDade Products,LLC and G Medical Tests and Services, a division of G MedicalInnovations Holdings Ltd . (NASDAQ: GMVD), todayannounced an additional $6.5 million purchase order for two millionCOVID-19 PCR collection test kits.
G Medical will be selling these units wholesale for$3.25 each, reflecting a gross profit of approximately $3.5 million.Additionally, G Medical expects to be paid an average of $85.00 pertest through each patient’s insurance.
“McDade is pleased to be expanding upon itsexisting purchase order so quickly and expects to be ordering afurther seven million test kits in the next thirty days.”
These orders seem tocome at a pertinent moment with the Biden Administration recentlyrequiring that private insurers pay for a minimum of eight COVID 19test kits per person per month starting January 15 th .
G Medical Tests andServices is delighted to provide McDade with current and futurepurchase orders.
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, patientsand providers to better monitor, manage and improve clinical andpersonal 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(or Prizma), a clinical grade device that can transform almost anysmartphone into a medical monitoring device enabling both healthcareproviders and individuals to monitor, manage and share a wide range ofvital signs and biometric indicators; its Extended Holter PatchSystem, a multi-channel patient-worn biosensor that captureselectrocardiography (or ECG) data continuously, including its QTSyndrome Prolongation Detection Capabilities Patch. In addition, theCompany is developing its Wireless Vital Signs Monitoring System (orVSMS), which is expected to provide full, continuous and real timemonitoring of a wide range of vital signs and biometrics. Itsmonitoring services include provision of Independent DiagnosticTesting Facility (or IDTF) monitoring services and private monitoringservices. Visit https://gmedinnovations.com/ .
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. Because such statements deal with futureevents and are based on G Medical’s and McDade Products’ currentexpectations, they are subject to various risks and uncertainties, andactual results, performance or achievements of G Medical and McDadeProducts could differ materially from those described in or implied bythe statements in this press release. For example, G Medical is usingforward-looking statements when it discusses delivery of purchaseorders and anticipated gross profits. The forward-looking statementscontained or implied in this press release are subject to other risksand uncertainties, 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, and in any subsequent filings with theSEC. Except as otherwise required by law, the companies undertakes noobligation to publicly release any revisions to these forward-lookingstatements to reflect events or circumstances after the date hereof orto reflect the occurrence of unanticipated events. References andlinks to websites have been provided as a convenience, and theinformation contained on such websites is not incorporated byreference into this press release. G Medical and McDade Products arenot responsible for the contents of third-party websites.
Investor RelationsCONTACT:
G MedicalInnovations
Kobi Ben-Efraim, CFO
+972 8-958-4777
ContactDetails
Kobi Ben-Efraim, CFO
+972 8-958-4777
CompanyWebsite
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