Avricore Health (TSX.V: AVCR) (OTCQB: AVCRF) is reporting on its second-quarter 2022 financial results and sharing a corporate update. According to the announcement, key developments for the company have included a significant increase of Shoppers Drug Mart(R) pharmacies offering AVCR’s Healthtab(TM) point-of-care (“POC”) testing platform; the total has reached 450 locations nationwide. According to the announcement, Avricore’s new master service agreement (“MSA”) and corresponding Statement of Work (“SOW”) also allows for affiliated locations under the Loblaw family of brands to utilize Healthtab upon request. In addition, the company noted that Healthtab placed in the first pharmacist-led primary healthcare clinic located in Lethbridge, Alberta, and the government of Ontario implemented an expanded scope of practice for community pharmacists in the province. The company also noted that Shoppers Drug Mart pilot data indicated more than 15,000 Healthtab tests were completed for approximately 6,900 patients. AVCR also developed a quality-assurance program with a third-part reference laboratory and is in the process of developing new pilot programs with national pharmacy chains as well as negotiating new POC service integrations to expand the HealthTab testing menu. In addition, the company also released its financial numbers for the quarter, reporting comprehensive loss of $207,363 for the three months ended June 30, 2022, while revenues increased to $176,175 with gross profit coming in at $56,874. “We have now begun a new era for Healthtab and the company as we expand Shoppers Drug Mart significantly over the coming weeks,” said Avricore Health CEO Hector Bremner in the press release. “We are now realizing our revenue targets and are on track to realize long-term profitability as we continue to successfully execute our plan.”
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About Avricore Health Inc.
Avricore Health is a pharmacy service innovator focused on acquiring and developing early-stage technologies aimed at moving pharmacy forward. Through its flagship offering HealthTab(TM), a wholly owned subsidiary, the company’s mission is to make actionable health information more accessible to everyone by creating the world’s largest network of rapid testing devices in community pharmacies. For more information about the company, please visit www.AvricoreHealth.com
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