- Avricore Health has announced that it is ready to roll out its HealthTab rapid disease testing system in pharmacies across Canada
- The rapid disease testing system comprises two key components, Avricore’s web-based HealthTab and Abbott’s Affinion 2 multi-assay analyzer
- The global point-of-care diagnostics market was valued at $34.49 billion in 2020 and is expected to continue growing and reach $81.37 billion by 2028
Avricore Health (TSX.V: AVCR) (OTCQB: AVCRF), an innovator in pharmacy services focused on the acquisition and development of early-stage technology aimed to move pharmacies forward, is set to roll out its proprietary HealthTab rapid disease testing system in pharmacies across Canada. The rollout comes shortly after the company put its health screening system into 12 Shoppers Drug Mart stores located in the Greater Toronto area, as well as several independent pharmacies in Ontario and British Columbia (https://nnw.fm/opRA0).
“This adds a new dimension to the pharmacy practice. By providing this kind of service in a community pharmacy setting, we lower barriers to access to diagnostic information that’s often life-saving and outcome-improving,” Hector Bremner, CEO of Avricore, said. “Ultimately, we’re democratizing access to diagnosis while addressing the needs of pharmacists as they look to getting into more clinical services.”
Avricore’s screening process is built upon two key components — HealthTab and Affinion 2. HealthTab is Avricore’s web-based platform. It provides a console-accessible interface where patients can create an account and choose their tests, allowing pharmacists to review and monitor patient information. The Affinion 2 multi-assay analyzer, created by Abbott Laboratories, provides point-of-care patient testing.
Once the patient has registered and chosen a test, a pharmacist extracts a small amount of blood through a finger stick. The blood is then collected into a reagent disc and inserted into the Affinion 2. The results are ready in approximately 15 minutes. They are presented in a dashboard format that can be viewed from a computer, mobile device, or printed at the pharmacy. The information integrates easily into pharmacy EMR systems.
The screening system can measure up to 21 health markers and currently offers diabetes and cardiovascular disease testing. Depending on the factors, analyzer and number of testing instruments, pharmacies pay between $300 and $500 a month for the system plus the per-test cost between $15 to $40 to cover the single-use test cartridges.
Recently, Bremner sat down and spoke with Paul Benwell & Associates (“PBA”) for the “PBA à Noon” podcast, discussing HealthTab and the rapid diagnostic testing services (https://nnw.fm/pucv9). He highlighted the uniqueness of the company’s overall business structure — taking existing technology, bundling it together, and re-introducing it as an innovative service that people want and need.
Through HealthTab, data connections are created to interlock the pharmacies, patients and medical doctors. The ecosystem is created to provide seamless patient care while sharing information with telemedicine or other medical professionals for research for expedited real-time reporting capability. The system can be adapted to provide real-time infectious disease tracking.
Avricore’s goals for its rapid testing include expansion into more pharmacies across Canada and entry into the United States and United Kingdom’s markets. The partnerships that Avricore has created with companies like Abbott and the select Shoppers Drug Mart pharmacies place Avricore in a prime position to dominate the point-of-care (“POC”) diagnostics landscape — an expanding market rife with opportunities.
According to a Fortune Business Insights report, the global POC diagnostics market was valued at $34.49 billion in 2020 and an estimated $43.49 billion in 2021 (https://nnw.fm/ZvGZH). The market is expected to continue expanding and reach $81.37 billion in 2028, growing at a CAGR of 9.4% during the forecast period.
For more information, visit the company’s website at www.AvricoreHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to AVCRF are available in the company’s newsroom at https://nnw.fm/AVCRF
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