Todos Medical Sees Significant Ramp Up in COVID PCR Testing Volume at Its Provista CLIA/CAP Lab with New Automation in Place
Automation enabled Provista to conduct over 7,600 PCR tests for the month of October, more than in the first 8 months of 2021 combined
Company sees expanding testing for COVID PCR, neutralizing antibody and flu a&b/RSV opportunities leading to a marked increase in revenue in the coming quarters
Company to present at the GCFF Virtual Conference 2021 Main Event on Thursday November 4, 2021
New York, NY, and Tel Aviv, ISRAEL, Nov. 02, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire --Todos Medical, Ltd. (OTCQB: TOMDF), a comprehensive medical diagnostics and related solutions company, today announced that its wholly-owned high complexity CLIA/CAP certified laboratory Provista Diagnostics is seeing a significant ramp up in PCR testing volume with its new automation in place. Concurrent with this announcement, the Company announced that President & CEO Gerald Commissiong is presenting at the GCFF Virtual Conference 2021 Main Event at 2:20pm ET / 11:20pm PT with registration available at https://gcff-nov-2021.eventbrite.ca/?aff=TOMDF .
Todos completed automation installation in Q3 2021 and began ramping up sales efforts heading into Q4. James Doherty was hired in Q3/21 as Senior Director of Business Development to help drive growth. This led to a significant increase in testing volume in October. With reimbursement rates of up to $130 per test, and large volume reference work available, PCR testing capacity at Provista today stands 10,000 tests per day, with capacity expected to approach 20,000 tests by the end of November as the Company begins to hire additional lab staff to meet customer demands. We believe PCR testing represents a significant financial opportunity for Todos heading into 2022.
“We are very excited about the pace of COVID PCR testing volume growth at Provista thus far in the fourth quarter of 2021,” said Gerald E. Commissiong, President & CEO of Todos Medical. “We are just beginning to scratch the surface of what is possible in regards to our automation strategy at Provista. Our new sales team is energized and looking to drive growth by expanding our marketing efforts and broadening our testing suite of products. There has been a heightened focus on the cPass neutralizing antibody testing that is becoming more relevant as pediatric vaccine and booster programs are beginning to roll out across the country. We strongly encourage children to be tested by PCR for COVID before administering the vaccines in order to reduce the risk that an asymptomatic case becomes a symptomatic infection prior to a child being considered fully vaccinated. We are confident that our strategy will lead to progressive, profitable sales growth at Provista in the quarters and years to come.”
“We see reference lab work as the major drive of growth in the near-term for COVID PCR testing, cPass neutralizing antibody testing and respiratory pathogen panel (RPP),” said James Doherty, Senior Director of Business Development at Provista Diagnostics. “As other labs who have been servicing nursing homes, schools and the travel industry with COVID testing services begin to move back into their traditional lab testing models, they are looking for trusted COVID-focused reference lab partners that can deliver fast turnaround times with high quality customer service. This is exactly the type of offering we deliver at Provista Diagnostics, and as we begin to scale our offerings it is my strong believe that we can steadily increase sample volume running through the lab for COVID, cPAss and RPP.”
https://investor.todosmedical.com/news-events...cr-testing
Automation enabled Provista to conduct over 7,600 PCR tests for the month of October, more than in the first 8 months of 2021 combined
Company sees expanding testing for COVID PCR, neutralizing antibody and flu a&b/RSV opportunities leading to a marked increase in revenue in the coming quarters
Company to present at the GCFF Virtual Conference 2021 Main Event on Thursday November 4, 2021
New York, NY, and Tel Aviv, ISRAEL, Nov. 02, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire --Todos Medical, Ltd. (OTCQB: TOMDF), a comprehensive medical diagnostics and related solutions company, today announced that its wholly-owned high complexity CLIA/CAP certified laboratory Provista Diagnostics is seeing a significant ramp up in PCR testing volume with its new automation in place. Concurrent with this announcement, the Company announced that President & CEO Gerald Commissiong is presenting at the GCFF Virtual Conference 2021 Main Event at 2:20pm ET / 11:20pm PT with registration available at https://gcff-nov-2021.eventbrite.ca/?aff=TOMDF .
Todos completed automation installation in Q3 2021 and began ramping up sales efforts heading into Q4. James Doherty was hired in Q3/21 as Senior Director of Business Development to help drive growth. This led to a significant increase in testing volume in October. With reimbursement rates of up to $130 per test, and large volume reference work available, PCR testing capacity at Provista today stands 10,000 tests per day, with capacity expected to approach 20,000 tests by the end of November as the Company begins to hire additional lab staff to meet customer demands. We believe PCR testing represents a significant financial opportunity for Todos heading into 2022.
“We are very excited about the pace of COVID PCR testing volume growth at Provista thus far in the fourth quarter of 2021,” said Gerald E. Commissiong, President & CEO of Todos Medical. “We are just beginning to scratch the surface of what is possible in regards to our automation strategy at Provista. Our new sales team is energized and looking to drive growth by expanding our marketing efforts and broadening our testing suite of products. There has been a heightened focus on the cPass neutralizing antibody testing that is becoming more relevant as pediatric vaccine and booster programs are beginning to roll out across the country. We strongly encourage children to be tested by PCR for COVID before administering the vaccines in order to reduce the risk that an asymptomatic case becomes a symptomatic infection prior to a child being considered fully vaccinated. We are confident that our strategy will lead to progressive, profitable sales growth at Provista in the quarters and years to come.”
“We see reference lab work as the major drive of growth in the near-term for COVID PCR testing, cPass neutralizing antibody testing and respiratory pathogen panel (RPP),” said James Doherty, Senior Director of Business Development at Provista Diagnostics. “As other labs who have been servicing nursing homes, schools and the travel industry with COVID testing services begin to move back into their traditional lab testing models, they are looking for trusted COVID-focused reference lab partners that can deliver fast turnaround times with high quality customer service. This is exactly the type of offering we deliver at Provista Diagnostics, and as we begin to scale our offerings it is my strong believe that we can steadily increase sample volume running through the lab for COVID, cPAss and RPP.”
https://investor.todosmedical.com/news-events...cr-testing
