Fingerprint Drug Test Delivers Quantifiable Benefits for Customers as Adoption in Workplaces Accelerates
January 30 2024 - 8:30AM
Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the
“Company”), a medical technology company delivering intelligent,
rapid, non-invasive testing solutions, today reported on the key
operational benefits that customers are experiencing following
deployment of the Intelligent Fingerprinting Drug Screening System
to support workplace drug testing.
Customers across critical sectors such as
construction, manufacturing and logistics are reporting substantial
advantages post-implementation of the system, including:
- enhanced control over drug
screening processes by transitioning to in-house
- improvements in workplace
productivity
- streamlined project compliance
and
- significant cost savings
A shift in preference toward fingerprint
sweat-based drug screening has been observed, with many
organizations seeking alternatives to traditional methods such as
urine and oral fluid testing.
“We’re seeing an increasing need for drug and
alcohol testing across major construction and manufacturing
projects. Modern HSEQ and HR teams are recognizing that
conventional drug testing approaches simply are not meeting the
growing demands for improved operational efficiencies,” explained
Harry Simeonidis, President and Chief Executive Officer at
Intelligent Bio Solutions. “This realization is driving rapid
customer adoption of our Intelligent Fingerprinting Drug Screening
System, which not only offers a non-invasive, quick and easy
solution but also improves efficiencies and unlocks significant
productivity savings.”Recent examples include:
- A reduction in overall
testing costs for P&O Ferries: P&O Ferries expects
an estimated 90% reduction in overall drug testing costs by
switching to an in-house program using the Intelligent
Fingerprinting Drug Screening System, moving away from its former
external urine drug testing service provider that required multiple
cabins with toilet facilities, HR support, and external
testers.
- Well-supported employee
inductions on one of Europe’s largest construction sites:
Auctus Management Group has implemented a streamlined induction
process utilizing the Intelligent Fingerprinting Drug Screening
System at its core. This innovative approach allows for a
comprehensive screening process, including collecting fingerprint
sweat samples, alcohol breath analysis and biometric data
collection, all within an 11-minute timeframe per candidate.
According to Auctus: “we simply could not deliver this project at
scale using urine or saliva drug tests.”
- Maintained the presence of
DGP Plc employees and contractors at customer project
sites: Construction technology specialist firm DGP Plc has
around 450 employees and contractors working on customer project
sites at any time. DGP has effectively minimized on-site disruption
caused by half-day absences required for urine-based testing by
switching to quick, on-site fingerprint sweat-based drug screening
in minutes.
- Achieved greater control
through in-house management of drug testing: Independent
chemical manufacturer Robinson Brothers found that replacing its
external urine-based drug testing service with the Intelligent
Fingerprinting Drug Screening System meant it could conduct the
same volume of workplace drug screening at around half the
cost.
About Intelligent Bio Solutions
Inc.
Intelligent Bio Solutions Inc. (the “Company”)
(Nasdaq: INBS) is a medical technology company delivering
intelligent, rapid, non-invasive testing solutions. The Company
believes that its Intelligent Fingerprinting Drug Screening System
will revolutionize portable testing through fingerprint sweat
analysis, which has the potential for broader applications in
additional fields. Designed as a hygienic and cost-effective
system, the test screens for recent use of drugs commonly found in
the workplace, including opiates, cocaine, methamphetamine, and
cannabis. With sample collection in seconds and results in under
ten minutes, this technology would be a valuable tool for employers
in safety-critical industries. Additionally, the Company’s
biosensor platform has the potential to test for up to 130
indications, ranging from glucose to immunological conditions and
communicable diseases. The Company’s current customer segments
include construction, manufacturing and engineering, transport and
logistics firms, drug treatment organizations, and coroners.
For more information, visit: www.ibs.inc
Forward-Looking Statements:
Some of the statements in this press release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act
of 1934, and the Private Securities Litigation Reform Act of 1995,
which involve risks and uncertainties. Forward-looking statements
in this press release include, without limitation, Intelligent Bio
Solutions Inc.’s ability to successfully develop and commercialize
its drug and diagnostic tests, realize commercial benefit from its
partnerships and collaborations, and secure regulatory approvals.
Although Intelligent Bio Solutions Inc. believes that the
expectations reflected in such forward-looking statements are
reasonable as of the date made, expectations may prove to have been
materially different from the results expressed or implied by such
forward-looking statements. Intelligent Bio Solutions Inc. has
attempted to identify forward-looking statements by terminology,
including “believes,” “estimates,” “anticipates,” “expects,”
“plans,” “projects,” “intends,” “potential,” “may,” “could,”
“might,” “will,” “should,” “approximately” or other words that
convey uncertainty of future events or outcomes to identify these
forward-looking statements. These statements are only predictions
and involve known and unknown risks, uncertainties, and other
factors, included in Intelligent Bio Solutions’ public filings
filed with the Securities and Exchange Commission. Any
forward-looking statements contained in this release speak only as
of its date. Intelligent Bio Solutions undertakes no obligation to
update any forward-looking statements contained in this release to
reflect events or circumstances occurring after its date or to
reflect the occurrence of unanticipated events.
Company Contact:Intelligent Bio Solutions
Inc.info@ibs.incLinkedIn | Twitter
Media Contact:Cheryl BillsonComma
Communicationscheryl.billson@commacomms.com+44 (0)7791 720460
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