- Avricore Health recently announced that screening had begun at 15 select Shoppers Drug Mart Pharmacies
- The company intends to expand its rapid diagnostics to other parts of Canada, as well as the US, UK, and EU
- Avricore aims to use diagnostics to generate data that it can then use to make better decisions and create outcomes
- It hopes to be a tremendous contributor to the critical data pool that is going to make medicines cheaper, more effective, and get to patients quicker
When Avricore Health (TSX.V: AVCR) (OTCQB: AVCRF) signed a master agreement with Shoppers Drug Mart Inc., Canada’s leading pharmacy network, in June 2021, it intended to provide accessible, high-quality diagnostics with real-time data reporting. This, coupled with the support offered by the pharmacy chain, the company noted, would be a powerful combination in the battle against chronic disease, including diabetes and cardiovascular conditions, in Canada (https://ibn.fm/RR2a5) So far, this partnership has been fruitful.
In an August 10 update, Avricore announced 15 select Shoppers Drug Mart pharmacies had received the HealthTab(TM) systems, thus heralding the onset of patient testing to those with known conditions associated with pre-diabetes or already identified as diabetic. The systems, which feature the HealthTab-integrated Afinion 2 analyzers by Abbott (NYSE: ABT), aim at offering diagnostic support and pharmacist-led consultation services (https://ibn.fm/hZU1J).
Initially, the master agreement stipulated that only 11 Shoppers Drug Mart stores would receive the platform and offer screening services, but the figure has since been updated to 15 locations. This update appears to be in line with Avricore’s goals, given that the company intends to expand its rapid testing to more pharmacies and pharmacy brands across Canada. It is also looking to expand to the US, UK, and EU.
Notably, though, diagnostics are only a cog in the company’s ever-rotating wheel. In a podcast interview with Paul Benwell & Associates, Avricore CEO Hector Bremner described the testing as a means to an end (https://ibn.fm/0tTQv). “One of the many things I’ve learned in Covid testing, in particular, is that buying tests or doing testing is not a strategy. The only reason you are testing is to get information. That information is what you are supposed to be focusing on,” Bremner stated.
He noted that HealthTab is about obtaining data and using it to make better decisions and create outcomes. It is this data that Avricore also intends to capitalize on as part of its monetization plan, particularly through de-identification. The platform can be used by major drug makers who wish to screen patients with chronic conditions in decentralized clinical trials; these manufacturers would pay depending on the agreed-upon model.
In cases where drugs are extremely particular about kidney and heart functions, drug makers can use HealthTab to get the efficacy of the drug right. “So, every time that person [a patient taking such drugs] comes in and picks up their prescription, they should be tested, and their biomarkers should be matched up against what their current prescription level is and that dosage modified. That’s another way a drug maker can have an ongoing program to pay to make sure that their patients are more effectively served,” Bremner explained.
By working with a pharmacy network, Avricore also aims to provide contract research organizations (“CROs”) the desired level of engagement with patients. These CROs, which are companies that run clinical trials on behalf of drug makers, can also purchase the de-identified data for their predictive software programs.
“We think in the long run, Avricore is going to be a tremendous contributor to that critical data pool that is going to make medicines cheaper, more effective, and get to patients quicker,” Bremner explained.
Avricore is a pharmacy service innovator focused on revolutionizing point-of-care data reporting for better patient outcomes. Aiming to become a leading health data company globally, AVCR is utilizing its point-of-care technologies, packaged into HealthTab, within the community of pharmacies.
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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