ShopHQ Offers Exclusive FDA-Authorized, At-Home COVID-19 Tests
January 05 2021 - 8:30AM
iMedia Brands, Inc. (the “Company”) (Nasdaq: IMBI) television
networks ShopHQ, ShopHQHealth and ShopBulldogTV have become the
first and only shopping television networks to offer an
FDA-authorized, at-home COVID-19 test to consumers in the United
States.
The Company’s ShopHQHealth television network is
squarely focused on the growing $11 billion dollar U.S. Telehealth
marketplace that offers consumers health-related products and
services in their own homes via interactive video, delivered to
them via a cable box, the Internet, over-the-top services like
Apple TV, Roku or over-the-air services from
broadcasters.
The core customer in the Telehealth space is the
same core customer iMedia interacts with today, men and women who
are 45 and older. The Company believes the growth in this
marketplace is being driven by consumers who are seeking to
purchase an advanced level of health education, products and/or
services at lower costs via interactive video in their own homes.
Based on these characteristics, the Company believes it is
strategically situated to capture a meaningful share of this
growing marketplace.
The Company officially launched its COVID-19
test on live national television on January 2nd with Dr. Terry
Dubrow and broadcast it across its television networks and streamed
across its associated websites and OTT Apps. iMedia is offering
consumers a highly effective, Emergency Use Authorized (“EUA”),
safe and reliable solution to help them combat the spread of
COVID-19 from their own homes.
iMedia has partnered with Biotech Accelerated to
facilitate and operate this testing program, along with P23 Labs as
its FDA EUA authorized testing lab facility.
iMedia’s tests are saliva-based, rRT-PCR tests,
which are the gold standard in molecular diagnostics and the most
accurate type of test for COVID-19. iMedia is making it easy and
affordable for its customers to test from their own homes and
receive results within 48 hours.
A physician’s order is provided to the customer
after a CDC-compliant health screening is completed. The collection
device, which is overnighted to the lab after collection,
inactivates the SARS-CoV-2 virus on contact, which makes the test
safer for transport. Refrigerant or cold-chain processing is not
required, which reduces the risk of false-negative test results.
Results are then delivered through an encrypted portal via text and
email. As part of the product, iMedia offer its customers a
telemedicine medical review of the results with a healthcare
professional.
Equally important, iMedia’s product offering
qualifies for FSA/HSA reimbursement, and the results of these tests
are maintained in a HIPAA-protected database through Curogram to
ensure consumer privacy.
“As I have talked about since the launch of our
ShopHQHealth TV network, these large, fast-growing telehealth
marketplaces are important opportunities for us,” said Tim
Peterman, CEO of iMedia Brands. “ShopHQHealth’s reason for being is
to help consumers manage their health and wellness from their own
homes. We are just getting started.”
About iMedia Brands, Inc.iMedia
Brands, Inc. (Nasdaq: IMBI) is a leading interactive media company
that owns a growing portfolio of lifestyle television networks,
consumer brands and media commerce services. Its brand portfolio
spans multiple business models and product categories. Its
television brands are ShopHQ, ShopBulldogTV, ShopHQHealth and
LaVenta. Its media commerce services brands are Float Left
Interactive and i3PL. Its consumer brands include J.W. Hulme, Live
Fit and Indigo Thread. Please visit www.imediabrands.com for more
investor information.
About Biotech Accelerated,
LLCBiotech Accelerated is a biotechnology company that
strives to bring the best health technology to public and private
communities locally and internationally. It is currently and
actively delivering solutions for the COVID-19 Pandemic to
corporations, governments, and individuals. Contact
media@biotechaccelerated.com with inquiries or visit
biotechaccelerated.com.
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995This release
contains statements, estimates, projections, guidance or outlooks
that constitute “forward-looking” statements as defined under U.S.
federal securities laws. Generally, the words “believe,” “expect,”
“intend,” “estimate,” “anticipate,” “plan,” “project,” “should” and
similar expressions identify forward-looking statements, which
generally are not historical in nature. These statements may
contain information about our prospects, including anticipated
show, event, or product line launches, and involve risks and
uncertainties. We caution that actual results could differ
materially from those that management expects, depending on the
outcome of certain factors.
Contacts:
Media:press@imediabrands.com(800) 938-9707
Investors:Gateway Investor
RelationsCody SlachIMBI@gatewayir.com(949) 574-3860
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