DGAP-News

G Medical Innovations Joins Forces with Serology Covid Testing to Support Safer Classroom Learning in California School Districts Amid Omicron Variant Surge

DGAP-News: G Medical Innovations Holdings G Medical Innovations Joins Forces with Serology Covid Testing to Support Safer Classroom Learning in California School Districts Amid Omicron Variant Surge 25.01.2022 / 10:03 The issuer is solely responsible for the content of this announcement. G Medical Innovations Holdings Ltd. (NASDAQ:GMVD) ('G Medical' or the "Company"), a Telehealth, medical device, and remote patient monitoring company providing clinical-grade solutions for consumers, medical professionals, and healthcare institutions, today announced it has formed an agreement with Serology Covid Testing to provide zero-cost COVID-19 testing to students, families, and school employees across the State of California. G Medical's wholly owned subsidiary, G Medical Tests and Services, Inc., will provide end-to-end testing services including setup; certified medical staff; testing kits, supplies and necessary personal protective equipment; and an online patient portal to easily administer tests and provide digital certified lab results. "It's an honor for us to partner with Serology Covid Testing and collaborate with educators and public health officials across the State of California to help keep children and their families safe," said Dr. Yacov Geva, President and CEO of G Medical. "Testing programs like these give schools the freedom and flexibility they need to halt transmission chains and minimize disturbance to all of the vital activities that take place in school communities daily." As phase one of the agreement, the co-branded testing venture includes contracts with multiple private and public institutions enabling more than 5,000 students (not including families and faculty) to be tested weekly. On average, G Medical expects to collect an average of $197.88 per patient encounter, which could amount to more than $1,000,000 in gross revenue per week. The agreement stems from a shared commitment to "keeping schools open" by assisting in the recovery of the U.S. teaching market, reducing educational staff turnover, and assisting in the reversal of the pandemic's disproportionate impact on the education-sector workforce.