Market soon to get a Look @ what HLTH.c is about to deliver on the Same Front. So Undervalued.
QSC type Mover
Global Care says JV has $3.95M revenue in June quarter
2020-08-03 22:37 ET - News Release
Mr. Alex Somjen reports
GLOBAL CARE CAPITAL INC. CEO PROVIDES CORPORATE UPDATE
Global Care Capital Inc. has provided a corporate update from chief executive officer, Alex Somjen.
For the period beginning April 1, 2020, and ending June 30, 2020, Global Care's portfolio companies, High Standard Health Care Ltd. and ViraxClear through its joint venture partner, Shanghai Biotechnology Devices Ltd., on a consolidated basis, generated approximately $3.95-million in gross revenue with a gross margin of approximately 39 per cent from the sale of High Standard Health Care PPE (personal protective equipment) products, ViraxClear-branded COVID-19 rapid antibody test kits and ViraxCare-branded PPE products. The company cautions that revenue figures have not yet been audited and are based on reports prepared by High Standard Health Care and ViraxClear management.
High Standard Health Care
High Standard Health Care anticipates an increase in purchase order volume as several customers are running out of existing PPE and are requesting follow-up quotes. There has been increased interest from school districts within New York State, and High Standard Health Care continues to work on long-term vendor agreements. There has been a high volume of requests for child-sized masks, which High Standard Health Care has direct access to and believes is a key differentiator.
High Standard Health Care hopes to be in a position to announce multiple new partnerships with schools in the coming weeks, as well as reorders from existing customers.
"We are excited about the growth prospects of our company over the next 12 months," shared Pat Gray, chief executive officer of High Standard Health Care. "Our main focus within our organization is and always has been customer service, which we continue to see pay off. Maintaining strong relationships with our customers has always been our first priority, and our customers have shown loyalty in return."
ViraxClear
ViraxClear has multiple high-quality sources of supply for its test kits and has been selling test kits business to business, as well as business to consumer through its website across five continents.
ViraxClear received approval for its test kits for the Chilean market from El Instituto de Salud Publica de Chile (ISP), through both its Innovita and Vazyme test kit suppliers. A letter of intent has been signed with Biosonda Biotecnologia for the distribution of up to three million test kits for the Chilean market, valued at $17.25-million. Biosonda states that it has distributed the test kits it purchased to its network, submitted them for government trials and is gearing up for nationwide distribution through its own channels and through the government.
ViraxClear signed a contract for distribution with Philippines medical device distribution company Novarad Asia Pacific Company, following the Philippines Food and Drug Administration (PFDA) approval for the ViraxClear test kits. The terms are for an initial one million test kits, which, having been bought and distributed, will convert to a nationwide exclusivity deal. The first two orders have been processed with intent for large-scale nationwide distribution.
ViraxClear is progressing toward distribution deals to sell PCR testing machines and test kits across Africa and continues to turn over revenue through its on-line e-commerce platform.
ViraxClear's PPE e-commerce platform, ViraxCare, sells high-quality, branded PPE to individuals and globally through its website. KN95 masks, three-ply masks, nitrile gloves, infrared thermometers, pulse oximeters and wipes are just some of the medical equipment and PPE available on the ViraxCare website for direct sales. ViraxCare also offers bulk PPE and medical equipment purchases for businesses and organizations.
ViraxClear is progressing the sales of its ViraxClear and ViraxCare brands, globally, with a view to imminently secure large purchase orders for its test kits, PCR machines, PPE and detection devices, and convert the deals it has been advancing over the last few months.
ViraxClear is in discussions to form joint venture agreements with innovative technology companies to offer solutions to offices that extend beyond PPE provision, such as self-sanitizing products and anti-viral cleaning solutions.
ViraxClear has initiated discussions with procurement companies in the hospitality industry to provide both PPE and innovative technology for major hotel brands.
"ViraxClear has secured a high-quality supply chain of test kits and PPE, which we have branded and packaged, to stand out from the competition and establish ourselves as a credible long-term partner for our customers," shared James Foster, chief executive officer of ViraxClear. "We have nurtured multiple strategic relationships over the last few months, which we expect will materialize into sizable sales. We have secured major distributors and vendors for our existing products. We are also very excited about the products we will bring to market imminently via new partnerships."
About Global Care Capital Inc.
Global Care Capital is a global investment company which specializes in providing early-stage financing to private and public companies. The company engages in new, early-stage investment opportunities in previously underdeveloped assets and obtaining positions in early-stage investment opportunities that adequately reflect the risk profile.
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