Collection Sites Provides Update With January Sales of 73,973 Tests at an Average Price of $96 per Test
To date Collection Sites has launched a total of 62 sites across its network with additional new openings in Texas, Florida, and North Carolina. Further, Medivolve will host a webinar today,
Thursday, February 4th at 1 pm ET.
TORONTO, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Medivolve Inc. (“Medivolve” or the “Company”) (NEO:MEDV; OTC:COPRF; FRA:4NC) is pleased to provide investors with a sales update and announces the launch of new COVID-19 testing centres by its wholly owned subsidiary, Collection Sites, LLC. Collection Sites has launched new sites in Texas, Florida, and North Carolina.
During the month of January, the Company realized the sale of 73,973 COVID-19 tests at an average sale price of $96 per test across its expanding network. Approximately 52% of the sales were cash pay, with the balance as insurance sales. The Company continued to see the strongest demand for antigen tests, followed by antibody and then PCR.
Upcoming Corporate Webinar
Medivolve is pleased to announce it is hosting a Corporate Update webinar, today Thursday February 4th at 1 pm ET that will provide investors with an update on the Company's recent business developments.
Registration Link: https://us02web.zoom.us/webinar/register/WN_MwefnnmjR2y4mZb7xJq-ZA
Specifically, the webinar will feature Medivolve CEO, Doug Sommerville, and Collection Sites, LLC President, Tim Shelburn, who will discuss the growth of Collection Sites’ COVID-19 testing network and recent sales performance. It will also feature a special presentation from the UCLA-based research team behind Marvel Diagnostics and its novel technology. Medivolve has signed a share purchase agreement to acquire up to 40% of Marvel Diagnostics Inc, for an aggregate price of up to US$1 million through a series of milestone-based payments. This funding will be used to complete clinical studies for the BlowFISH collection system and to design and optimize, manufacture and market the device.
“We are thrilled by the strong sales performance in the month of January and are excited for future sales with the rapid growth of our network,” commented Collection Sites President Tim Shelburn. “We know COVID-19 testing is an important component of fighting back this virus and are proud to offer our testing services to Americans across the country.”
In order to maximize operational efficiency, Collection Sites is conducting a state by state expansion where possible. The new sites are currently located on the properties of Simon’s Property Group, an investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company as well as Sandor Development Group. Additional sites are expected to be open in Texas, Florida, and Georgia within the coming weeks.