Collection Sites Launches Business to Business Sales Initiatives; Provides Update With February Sales of 30,717 Tests at an Average Price of $98 per Test

Collection Sites launched multi-week custom testing solutions for a high-school athletics department in Redlands, California and a film production company in Los Angeles as part of its new business-focused sales strategy. Further, Medivolve announces an investor webinar Tuesday, March 23rd at 1 pm ET

TORONTO, March 18, 2021 (GLOBE NEWSWIRE) -- Medivolve Inc. (“Medivolve”) (NEO:MEDV; OTC:COPRF; FRA:4NC) is pleased to provide investors with a sales update and announces the launch of a new business to business sales strategy, including the initiative of two custom testing solutions.

On Monday, March 8^th, 2021, Collection Sites launched two multi-week custom COVID-19 testing programs as part of its new business-focused testing services. Moving forward, Collection Sites will be dedicating additional efforts to securing testing contracts with businesses across the United States to provide custom testing solutions.

The first program is with a TV & Film production studio based in Los Angeles, where Collection Sites staff provide 24 hour PCR test results on-site for crew, talent and staff in accordance with the required COVID-19 testing policies. The testing program will last four weeks, with approximately 500 PCR tests expected to be completed.

The second program is with the athletics department of a school district in Redlands, California. Collection Sites will supply and conduct on-site rapid antigen tests on students, athletes, and staff as required by the athletics department. The testing program will last until the end of June 2021, where up to 3,750 rapid antigen tests can be completed over the period.

February Sales

During the month of January, the Company realized the sale of 30,717 tests at an average sale price of $98 per test across its network. Approximately 59% 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.

“In February we saw another solid month of sales with over 30,000 tests conducted across our network. While we experienced some operating challenges due to winter weather, particularly in Texas and along the east coast during the month, we are still very happy with the sales results,” commented Medivolve CEO Doug Sommerville. “As vaccination efforts rollout, we anticipate retail demand to soften and as such are turning to exciting new sales initiatives focused on custom testing solutions for businesses. While COVID cases have receded across America, we believe the need for proper testing will remain for the foreseeable future. This also highlights the strategic importance of our telehealth initiatives and the launch of a disruptive and sustainable business model that helps to provide accessible and convenient medical services to our patients.”