Precheck Health Services Inc (OTCMKTS: HLTY) has gone into full beast mode after the Company announced an exclusive agreement with a U.S. based molecular diagnostics company, to distribute its coronavirus 2019 (COVID 19) test which currently detects both strains of the COVID 19 virus and all of its products in Russia. PreCheck has ordered an initial 7,500 COVID 19 test kits and now will be registering the product for Russia.
The news had the intended affect sending HLTY stock soaring from under $0.25 to well over $1 in less than an hour. coronavirus has been a game changer for many struggling biotechs breathing new life into otherwise forgotten socks. coronavirus has infected 120,000 people worldwide.
Precheck Health Services Inc (OTCMKTS: HLTY) provides a medical screening service, which makes early detection and monitoring of chronic diseases easy and cost-effective for patients and doctors. The Company distributes a non-invasive medical screening device which screens for biomarkers, which are precursors to chronic disease. The device assesses sudomotor function, cardiac autonomic function, and endothelial function and measures the ankle brachial indices. In addition, the device calculates a patented cardiometabolic risk score based on these assessments and measurements, body composition, vital signs, and fitness markers. Cardiometabolic risk refers to the chance of having or developing diabetes, heart disease, or stroke. This device is targeted at the rapidly growing $139 billion global preventive healthcare technologies and services market, according to Grand View Research. The Company has an experienced management team with several decades of combined experience in medical testing services and medical device sales. The technology has been developed to address the growing mandates from Medicare, Medicaid, and insurance companies regarding early detection and prevention of chronic diseases.
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PreCheck Health Services’ offering is based on the Company’s PC8B, an FDA-cleared and patented medical screening device, which performs a range of screening tests generally covered and reimbursed by Medicare, Medicaid, and most insurance companies. The non-invasive diagnostic tests are performed simultaneously, collectively taking under 10 minutes to perform and screening patients for multiple risk factors underlying certain chronic ailments, such as insulin resistance, cardiovascular disease (including PAD), endothelia dysfunction, digestive problems, and fatigue. The PC8B’s software helps the physician recommend a treatment plan for the patient.
HLTY got a huge boost after the Company said it has reached an exclusive agreement with a U.S. based molecular diagnostics company, to distribute its coronavirus 2019 (COVID 19) test which currently detects both strains of the COVID 19 virus and all of its products in Russia. PreCheck has ordered an initial 7,500 COVID 19 test kits and now will be registering the product for Russia.
Justin Anderson, Chief Executive Officer of PreCheck Health Services, commented, “We’re excited to enter into this agreement which launches PreCheck into the global infectious disease diagnostic market. Although we are focused currently on the COVID 19 test to address the global crisis, we also look forward to leveraging the opportunity with all of our partner’s products, to maximize shareholder value.”
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Currently trading at a $1.8 million market valuation based on 12 million OS HLTY has little cash, manageable debt on the books and some revenues reporting $132k for the 9 months ended September 30, 2019. HLTY is an exciting story in small caps and the latest biotech to jump onto the booming coronavirus bandwagon announcing an exclusive agreement with a U.S. based molecular diagnostics company, to distribute its coronavirus 2019 (COVID 19) test which currently detects both strains of the COVID 19 virus and all of its products in Russia. We will be updating on HLTY when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HLTY.
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Disclosure: we hold no position in HLTY either long or short and we have not been compensated for this article.