Questcap to roll out 25 COVID testing sites across U.S.Read this and tell us if this is an insider info or public Mr. Doug Sommerville reports
COLLECTION SITES EXPANDS CONVENIENT COVID-19 TESTING ACROSS AMERICA WITH 25 ADDITIONAL TESTING SITES
Questcap Inc. had strong initial test sales at its wholly owned subsidiary, Collection Sites LLC.
Highlights include:
- Surging test sales amid recent Collection Sites media coverage and increasing COVID-19 cases across the United States; demand for Collection Sites unique value-proposition of convenient and effective COVID-19 testing verifies operational model;
- Initial 20 sites showing strong tests sales with seven-day rolling average of 73 tests per day per site and average test price exceeding $95 per test;
- Rapid antigen tests' point-of-care capabilities allows for increased testing capacity, with one Collection Site recording sales of 186 tests in a single day;
- The launch of 25 additional collection sites in hand-picked, high-traffic locations across the United States, with installation beginning this week;
- The leasing of new portable trailers from WillScot, drastically reducing upfront capital requirements and providing refuge for customers in the coming winter season;
- Continued engagement with retailers, with up to 743 contracted Collection Sites locations across the United States with partners like Simon's Property Group, Brookfield Properties and Sandor, among others;
- Questcap is hosting a corporate update webinar on Thursday, Dec. 10, 2020, at 1 p.m. ET for investors.
"As COVID-19 cases continue to rise across the United States, Collection Sites testing centres are seeing increased demand from both consumers, as well as businesses eager to offer COVID-19 testing to employees and customers," says Doug Sommerville, chief executive officer of Questcap. "Having now refined our operational model with the launch of the first 20 cubes, we are now ready to expand our network and get convenient and effective COVID-19 test results to everyday Americans so we can flatten the curve."
Collection Sites expands test offerings and footprint
Starting on Nov. 16, COVID-19 rapid antigen tests were distributed to the operating Collections Sites. These tests retail for $99 (U.S.) per test and are the most sought after by customers, with strong initial demand in the initial days. These tests also provide Collection Sites with the highest profit margin per test, strengthening profitability of each testing cube. The Collection Sites locations have an estimated capacity of up to 150 tests per day when fully staffed, where they operate seven days a week. However, due to the point-of-care capabilities of the rapid antigen tests, to date, one Collection Site recorded sales of 186 tests in a single day, with multiple other sites exceeding 150 tests in a single day.
As noted by Collection Sites president Tim Shelburn during the Questcap investor webinar with the NEO Exchange, the company continues to engage with retailers and similar businesses looking to host collection sites at their locations and will make further announcements as they are signed.
To summarize, to date the following agreements have been signed, for a total of up to 743 contracted collection sites:
- Brixmor -- 340 retail locations;
- Brookfield Properties -- 73 shopping mall locations;
- H&S Energy LLC -- up to 100 gas and convenience locations;
- Sandor -- 65 big-box store locations.
Simons Property Group -- 165 shopping mall locations
"Our initial strategy has been that of a land grab, securing convenient, high-traffic locations that will perform exceptionally during the upcoming holiday season and beyond," commented Mr. Shelburn, Collection Sites president. "With over 700 sites secured and counting, we believe we have the best footprint in the country for offering convenient and effective COVID-19 testing. With the operational model now proven, our team is laser focused on the execution fo the rollout of these sites."
25 new Collection Sites locations launched with WillScot Trailers
Starting this week, Collection Sites will roll out 25 portable trailers from WillScot in hand-picked high-traffic locations across the United States, including states like Texas, Indiana, Pennsylvania and Florida, among others. WillScot is a international company that sells or leases portable trailers to customers across the United States. After this initial site rollout with WillScot, Collection Sites will look to fulfill its previously announced network of Collection Sites locations.
WillScot has a fleet in excess of 360,000 trailers globally and over 140,000 trailers across the United States. These trailers are spread out across the country and can be deployed to a desired site in two to three days. The use of WillScot trailers allows Collection Sites to drastically reduce the upfront capital requirements and delivery cost.
These new trailers measure 20 inches by eight inches and offer customers and staff reprieve from the outdoor conditions during the winter season, including built-in heating units.
Questcap corporate update webinar
Questcap is hosting a corporate update webinar on Thursday, Dec. 10, 2020, at 1 p.m. ET that will provide investors with an update on the company's business developments since the last update, with a primary focus on the Collection Sites subsidiary.