Avricore Health DD - AVCR.V This is to summarize not only the company but where the future of POCT is going.
For those of you who are new to the company, there are some common abbreviations you will run into. POCT (Point of Care Testing) SDM (Shoppers Drug Mart) .
**What is Avricore Health and what is the purpose of the company?**
Avricore Health offers multiple products related to POCT. The first one is their flagship product HealthTab. This is what is rapidly being installed in SDM locations across Canada (615 as of this post) as well as Rexall clinics.
Additionally Avricore sells the consumable reagents (“tests”) for each test type.
Avricore also leases the devices. The Afinion 2 blood-chemistry analyzer, ID Now molecular platform, and the I-STAT by Abbott Rapid Diagnostics. These 3 machines can test for up to 27 biomarkers, specifically: A1c (diabetes), Lipid Profile (heart), C-Reactive Protein, RSV, Strep, Influenza A & B, Kidney Function, and Electrolytes.
**What is HealthTab and how does it work?**
HealthTab is the system that stores the results from your tests over a cloud network. HealthTab gives patients (and their pharmacists) direct access to their Health Information. Each system costs the pharmacy $250/mth.
**How the process works**
You book your appointment at your local pharmacy for basic testing (Cholesterol, diabetes, Covid, strep throat). You go in and get a drop of blood analyzed (or in the case of strep test or Covid test a swab)
Then you are given results. You and your pharmacist go over the results and it’s saved to the HealthTab system. If those results indicate an issue, then you would book an appointment with your doctor to review the results. 10min-15min and you’re good to go.
Each test costs $25-$30. There is a push to have this covered under public (provincial) or private health plans and it looks very promising… however, there is no timeline for when this could happen.
**So, why should I invest in this?**
Google “health care system canada overrun” and read the articles. You will see that there is an immediate need to try and alleviate the pressure hospitals around the country are faced with.
Shoppers Drug Mart is taking steps to create the pharmacy of the future. They are investing $millions into renovating their current locations to offer POCT. HealthTab is a part of that future. POCT testing is not only for Canada. The UK, Australia, and USA pharmacy chains are all changing to incorporate POCT in their business models.
Over the course of the next few years, this is the way that health care will change. It will save time all around. Which, in turn, saves everyone money overall.
- People will have shorter commute and wait times.
- Doctors, because they will have less patient volume. Instead of seeing everyone to test for Cholesterol, diabetes,strep and Covid tests, they will Instead be seeing the patients that require further testing.
- Insurance companies because they save $$ with early detection.
Feel free to browse the POCT world news section for an idea of how BIG this is. Avricore Health is growing rapidly and is a part of this.
**Who is Avricore Health Partnered with?**
- Shoppers Drug Mart & Loblaws - $36B market cap
- Rexall - Subsidiary of McKesson, $57B market cap
- Ascensia - Subsidiary of PHC Holdings, $1.5B market cap
- Abbott(reseller agreement) - $156B market cap
- market caps are accurate as of the week of this post. Sept 29th, 2023
**How does Avricore Health make money?**
Avricore Health has 3 streams of income as of this writing.
- Monthly system fee - $250 for each system installed
- Tests - 30% of the revenue for all tests sold
- Data collection - Avricore can sell the data for scientific research
- API integration