- Avricore Health is an innovator in pharmacy based point-of-care diagnostics
- The company introduced its flagship technology platform in an Ontario Shoppers Drug Mart pharmacy earlier this month as the lead-out to a 12-store rollout throughout the province
- Avricore’s trademarked HealthTab network is making diagnostic tools for diabetes and cardiovascular disease management accessible to patients and the Shoppers Drug Mart agreement provides community locations as well as pharmacist support
- The trial rollout showed successful use by over 90 patients during a week-and-a-half period with seamless pharmacist personnel assistance for more than 600 test results
- Financing programs in January and February helped Avricore retire $1 million in debt with enough left over to help fund the company’s platform expansion
Pharmacy diagnostics solutions developer Avricore Health (TSX.V: AVCR) (OTCQB: AVCRF) is celebrating the successful test rollout of its flagship platform for assessing cardiovascular disease and diabetes in Shoppers Drug Mart, Canada’s largest pharmacy network.
Avricore’s trademarked HealthTab network technology platform using Abbott Afinion 2(TM) analyzers for assessing cardiovascular and diabetes markers will be rolled out for point-of-care service in 12 Shoppers Drug Mart locations under an agreement announced June 3 (https://ibn.fm/I4Lg6).
Between July 5 and July 18, Avricore conducted an initial trial period of the health management data platform in an Ontario, Canada Shoppers Drug Mart store and found that more than 90 patients were tested and over 600 results were reported during the week and a half period.
“This is really profound because having access to lab-accurate results at our fingertips means we can better help family physicians by conducting regular follow up using advanced diagnostics with our diabetic and cardiovascular patients more effectively,” pharmacist and associate owner Mohamed Adel Elsabakhawi stated (https://ibn.fm/QId4K).
The purpose of the rollout is to help patients, beginning in Ontario, to live life well using effective tools and services to successfully manage their overall health with the support of a trusted pharmacist.
The world’s leading health organizations and experts have made accessibility to self-help management technology an increasing priority, and walk-in community pharmacies are ideal hub locations for patients to seek those services for diagnosing infections and preventing or treating chronic medical conditions.
Last year, the global point-of-care diagnostics market was evaluated at nearly $34.5 billion in revenue, according to Fortune Business Insights, and was expected to grow at a compound annual growth rate (“CAGR”) of 9.4 percent through 2028 to reach $81.37 billion (https://ibn.fm/juCx0).
Avricore secured two rounds of financing in early 2021 — one that closed $1.5 million and a second that brought in $1.54 million, with warrants for more than $1 million also exercised — which allowed the company to repay a secured debt of $1 million with sufficient extra cash to advance expansion plans (https://ibn.fm/SfMO3).
The 12 Ontario Shoppers Drug Mart pharmacies have now all received their HealthTab systems and are in the process of bringing them online as part of that expanding effort to help patients manage their care.
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://ibn.fm/AVCRF
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