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VANCOUVER, British Columbia, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Global Care Capital Inc. (CSE:HLTH, FRANKFURT:L6V1) (the “Company” or “Global Care”) a global investment company which engages in early stage investment opportunities in private and public companies, is pleased to provide a corporate update from CEO, Alex Somjen.
For the period beginning April 1st, 2020 and ending June 30th, 2020, Global Care’s portfolio companies, High Standard Health Care Ltd. (“High Standard Health Care”) and ViraxClear through its joint venture partner, Shanghai Biotechnology Devices Ltd. (“ViraxClear”), on a consolidated basis, generated approximately CDN$ 3.95 million in gross revenue with a gross margin of approximately 39% from the sale of High Standard Health Care PPE products, ViraxClear branded COVID-19 Rapid Antibody Test Kits (“Test Kits”) and ViraxCare branded PPE products. The Company cautions that revenue figures have not yet been audited and are based on reports prepared by High Standard Health Care and ViraxClear management.
High Standard Health Care
High Standard Health Care anticipates an increase in purchase order volume as several customers are running out of existing PPE and are requesting follow up quotes. There has been increased interest from school districts within New York State and High Standard Health Care continues to work on long term vendor agreements. There has been a high volume of requests for children sized masks which High Standard Health Care has direct access to and believes is a key differentiator.
High Standard Health Care hopes to be in a position to announce multiple new partnerships with schools in the coming weeks as well as reorders from existing customers.
“We are excited about the growth prospects of our company over the next twelve months,” shared Pat Gray, CEO of High Standard Health Care. “Our main focus within our organization is and always has been customer service which we continue to see pay off. Maintaining strong relationships with our customers has always been our first priority and our customers have shown loyalty in return.”
ViraxClear
ViraxClear has multiple high-quality sources of supply for its Test Kits and has been selling Test Kits B2B as well as B2C through its website www.viraxclear.com, across five continents.
ViraxClear received approval for its Test Kits for the Chilean market from El Instituto de Salud Pública de Chile (“ISP”), through both its Innovita and Vazyme test kit suppliers. An LOI has been signed with Biosonda Biotecnologia (“Biosonda”) for the distribution of up to 3 million Test Kits for the Chilean market, valued at $17.25 million. Biosonda states that they have distributed the Test Kits they purchased to their network, submitted them for government trials and are gearing up for nationwide distribution through their own channels and via the government.
ViraxClear signed a contract for distribution with well-known Philippines medical device distribution company Novarad Asia Pacific Company, following the Philippines Food and Drug Administration (“PFDA”) approval for the ViraxClear Test Kits. The terms are for an initial one million test kits which having been bought and distributed will convert to a nationwide exclusivity deal. The first two orders have been processed with intent for large-scale nationwide distribution.
ViraxClear is progressing toward distribution deals to sell PCR testing machines and Test Kits across Africa and continues to turnover revenue through its online ecommerce platform www.viraxclear.com.
ViraxClear’s PPE ecommerce platform, ViraxCare, sells high quality, branded PPE to individuals, globally through its website www.viraxcare.com. KN95 masks, 3 ply masks, nitrile gloves, infrared thermometers, pulse oximeters and wipes are just some of the medical equipment and PPE available on the ViraxCare website for direct sales. ViraxCare also offers bulk PPE and medical equipment purchases for businesses and organizations.
ViraxClear is progressing the sales of its ViraxClear and ViraxCare brands, globally, with a view to imminently secure large Purchase Orders for their Test Kits, PCR Machines, PPE and detection devices and convert the deals it has been advancing over the last few months.
ViraxClear is in discussions to form joint venture agreements with innovative technology companies to offer solutions to offices that extend beyond PPE provision, such as self-sanitising products and anti-viral cleaning solutions.
ViraxClear has initiated discussions with procurement companies in the hospitality industry to provide both PPE and innovative technology for major hotel brands.
“ViraxClear has secured a high-quality supply chain of Test Kits and PPE, which we have branded and packaged, to stand out from the competition and establish ourselves as a credible long-term partner for our customers,” shared James Foster, CEO of ViraxClear. “We have nurtured multiple strategic relationships over the last few months, which we expect will materialize into sizeable sales. We have secured major distributors and vendors for our existing products. We are also very excited about the products we will bringing to market imminently via new partnerships.”
About High Standard Health Care
High Standard Health Care is a leading global PPE provider assisting front line workers during the global pandemic. To date the company has procured respiratory masks, gowns, hand sanitizer, infrared thermometers, and face shields. To date High Standard Health Care customers, include hospitals, municipalities, long-term care facilities, fire departments and police departments.
ViraxClear focuses on commercializing novel products that address significant healthcare needs with a specific target on the novel coronavirus (COVID-19). The company’s main focus is marketing its ViraxClear Rapid IgM-IgG Combined Antibody Test. The ViraxClear Rapid IgM-IgG Combined Antibody Test for COVID-19 is a lateral flow immunoassay used to qualitatively detect both early and late marker IgG/IgM antibodies. ViraxCare is aimed at minimizing at-work risks by supplying PPE for employees and innovative products and devices which monitor potential viral outbreaks.
Global Care Capital is a global investment company which specializes in providing early stage financing to private and public companies. The Company engages in new, early stage investment opportunities in previously underdeveloped assets and obtaining positions in early stage investment opportunities that adequately reflect the risk profile.
Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile onwww.sedar.com
