Avricore Health Refocuses Strategy to Unlock Growth Potential

VANCOUVER, British Columbia, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Avricore Health Inc. (TSX-V: AVCR) ("Avricore" or the "Company"), a leader in pharmacy-based point-of-care testing solutions, today announces a strategic shift to increase its focus on the rapidly expanding UK healthcare market and begin concluding its Canadian pharmacy partnership with Shoppers Drug Mart.

This shift in market development builds on the UCL Partners announcement of its rapid cholesterol initiative in community pharmacies in North East London.

Key Business Update:

• Shoppers Drug Mart existing program to wind down over a multi-month transition period, ending March 30, 2025
• Continuing growth strategy execution with Canadian pharmacy customers such as Rexall throughout 2025
• Advancing ongoing business development initiatives and discussions to expand within domestic and international markets
• Strategic plan to redeploy assets to UK market, where NHS investment in pharmacy services exceeds CAD$1 billion
• Initial UK deployment has already commenced with UCL Partners in North East London
• Strong cash position maintained to support market expansion

"While the conclusion of our Shoppers Drug Mart relationship represents the end of a first stage for us, it’s provided us with the insights and resources for us to make a strategic choice to focus on the UK market where we see significantly greater potential for HealthTab," said Hector Bremner, CEO of Avricore Health. "The NHS's massive investment in pharmacy services, combined with their integrated health system and commitment to preventative care presents an opportunity that far exceeds what we could achieve in the Canadian market. Our early traction in London demonstrates the strategic value of this pivot."

HealthTab has proven that it can rapidly scale nationally and elevate patient and practitioner experience with point-of-care testing in community pharmacy. It has also proven that the pharmacy practice and patient benefit greatly from its utilization, by making it easy to scale rapid screening and early diagnosis related to chronic disease.

During screening periods in Canada, thousands of patients were screened and received valuable interventions in their care, improving patient outcomes. For example, up to 19% of patients tested during one period presented with elevated A1c levels which indicated undiagnosed pre-diabetes or diabetes, with 6% being undiagnosed diabetics.