October 12, 2021 -- InvestorsHub NewsWire -- NetworkNewsWire
Editorial Coverage: Today it seems almost unimaginable to wait
days or weeks for results from a blood test, but that was the case
only a few decades ago. Automated equipment, portable devices and
medical innovation have underscored a healthcare evolution that
allows for faster diagnoses and subsequent treatment to improve
patient outcomes. Innovation remains at the heart of healthcare,
keeping up with the times as doctors, patients and insurance
companies now expect near-instant results that detect disease at
earlier and earlier stages, sometimes even before symptoms present.
Early detection and screening have been proven to save lives and
billions of dollars, lending to the rise of point-of-care testing
(“POCT”), a nascent industry seeing exciting potential. POCT is the
wheelhouse for Avricore Health Inc. (TSX.V: AVCR)
(OTCQB: AVCRF) (Profile), whose turnkey POCT-solution-branded
HealthTab(TM) delivers real-time results, with the new technology
currently being evaluated at leading pharmacies in Canada with
North American expansion planned for the future. Harnessing the
power of real-world data is an essential piece of the next
generation of medical technology as companies such as Abbott Laboratories (NYSE:
ABT), Roche Holding AG ADR (OTCQX:
RHHBY), IQVIA Holdings Inc. (NYSE:
IQV) and Walgreens Boots Alliance Inc. (NASDAQ:
WBA) look to remain stewards in helping people
live longer, healthier lives.
- The global point-of-care diagnostics market size is projected
to reach an estimated $81.37 billion by 2028.
- Avricore Health has started commercialization of HealthTab, a
fully automated, turnkey point-of-care testing system capable of
scanning for up to 23 key biomarkers related to chronic and
infectious diseases.
- Avricore has significant partners, including a pilot program
running in Shopper’s Drug Mart and an agreement to use Abbott’s
Afinion(TM) 2 and ID NOW(TM).
- The Shopper’s program has been expanded from 11 to 15 stores
with an emphasis on care for diabetes, a disease that affects one
in three Canadians.
Click here to view the custom infographic of
the Avricore Health Inc. editorial.
A Surge in Demand for POCT
According to Fortune Business Insights, the global
point-of-care diagnostics market size is projected to
reach an estimated $81.37 billion by 2028, up from $34.49 billion
in 2020, representing a CAGR of 9.4% between 2021 and 2028. There
are several factors driving growth including rising demand for
rapid screening for chronic and infectious diseases, technological
advancements to rapidly identify biomarkers outside of the
laboratory setting and large investments by key players, among
other things.
As noted by Deloitte, insurers, healthcare providers, life
sciences companies and governments are challenged with rising costs
and inconsistent outcomes. This wends way to demand for real-world
evidence to play a bigger role in study and monitoring because it
is more accurate and is more cost efficient. Furthermore, there is
a paradigm shift ongoing in healthcare related to the patient
mentality: younger generations are no longer passive about their
health journey, becoming increasingly proactive and expecting
data-driven care.
And then there are pharmacies, which are under pressure from all
angles — regulators, competition and industry — and need to
generate additional revenue, which points squarely at adding
services catering to the above market drivers. That’s
where Avricore Health Inc. (TSX.V: AVCR) (OTCQB:
AVCRF) specializes, as a pharmacy service innovator
focused on acquiring and developing early-stage technologies aimed
at moving pharmacy forward. The Vancouver-based company’s wholly
owned HealthTab(TM) subsidiary is commercializing an eponymous
product that is unlike anything in pharmacies today. The solution
is part of AVCR’s mission to make actionable health information
more accessible to all by creating the world’s largest network of
rapid-testing devices in community pharmacies.
HealthTab is a fully automated, turnkey point-of-care testing
system that includes a blood chemistry analyzer, consumer facing
touchscreen with user questionnaires and consent collection, as
well as software with both end-user and backend interfaces. It
combines best-in-class, point-of-care technologies with a secure,
cloud-based platform that, with only a few drops of blood from a
finger prick or nasal swab to generate lab-accurate results in real
time at any pharmacy. Currently, the system tests for up to 23 key
biomarkers for screening and managing chronic diseases such as
diabetes and heart disease as well as testing for bacteria and
viruses.
Avricore has premier partners with the system using the Abaxis
Piccolo Express(TM) and the Abbott Afinion to generate test
results. Avricore first signed an agreement with Abbott on in May
2021 for use of its Afinion 2 and associated tests for diabetes and
heart disease screening in Canada. In July the agreement
was amended to add Abbott’s popular ID NOW(TM)
molecular testing device, which will add onsite testing and
reporting capabilities for SARS-CoV-2 as well as RSV, influenza A
and B, and strep.
COVID-19 Accelerates Trend
For nearly two years, the world has been staggering from the
COVID-19 pandemic with no real end in sight as new variants crop up
and vaccines, while capable of arresting any symptoms, fail to stop
contraction or transmission of the coronavirus. The resilient virus
has permanently changed many things in the world, including the
diagnostics space and a transition to primary care outside of the
hospital or doctor’s office.
Considering that it is becoming
clearer that late presentation of COVID-19 symptoms is
directly associated with increased mortality, the need to reimage
disease epidemiology with new screening tools has come front and
center. Early detection is a primary goal in nearly every disease
and condition today to improve care and contain costs.
Against the backdrop of this paradigm shift, HealthTab(TM) is
being rolled out in leading pharmacies throughout Canada. Following
successful beta
testing in July (90 patients with more than 600 test
results), patient testing in a pilot
program began in August of the HealthTab platform in
select Shoppers Drug Mart(R), a business of food giant Loblaw
Companies and the largest pharmacy chain in Canada with more than
1,300 locations. Frank Hack, director of complex care at
Shoppers Drug Mart, summed up the opportunity for HealthTab
in saying,
“We are committed to improving access to care through our pharmacy
network and enabling our pharmacists to drive improved patient
outcomes by providing value added patient care services.”
Diabetes: A Perfect Target for Mass
Acceptance
Shoppers started the pilot program at 11 retail locations and
quickly increased it to 15, with a focus on prediabetes and
diabetes patients. Within the HealthTab system, Abbott’s Afinion 2
diagnostic is used to define the HbA1c (glucose) level in a
patient’s blood, with HealthTab taking care of the rest to better
inform the pharmacist and patient when and if further action needs
to be taken.
Diabetes is arguably one of the most costly and common diseases
on the planet. It is estimated that approximately 463 million
people had diabetes in 2019, a number that is expected to rise
to 700
million by 2045. In Canada, diabetes affects one in three
people, with an average day seeing 20 Canadians die from
diabetes-related complications, 480 more being diagnosed and 14
suffering lower-limb amputations. Early detection through
monitoring HbA1c levels is critical in managing diabetes and its
litany of comorbidities, such as amputations, stroke,
cardiovascular disease and kidney failure. A proactive approach
like that of HealthTab is a welcome addition to the tool chest to
fight the disease.
A Win All the Way Around
Avricore Health earns revenues from a variety of streams via the
HealthTab platform. These include equipment leasing, sales of
real-world data sets, consumables, API integration (Software as a
Service) and screening tests. The fully customizable platform
allows Avricore to tailor make programs specific to a client’s
needs in different jurisdictions throughout the world. Furthermore,
the in-pharmacy network allows Avricore to offer the world’s first
permanent network of real-world evidence deidentifying
data-collecting analyzers to researchers to continue to innovate
with the added perk of decentralized clinical trials.
HealthTab is a big win for patients and pharmacies alike.
Pharmacists can generate additional revenue while playing a more
prominent role in primary care delivery. Following the trend
towards self-care and data-backed treatment plans, patients are
empowered to take more control of their health, with a pharmacist
right there for support and guidance. This goes without mentioning
the significant reductions in healthcare costs for patients and
payers, including already strained government systems and a higher
quality of life for patients by catching any number of potentially
deadly maladies at earlier stages.
POCT and Big Data: The Evolution of
Healthcare
Companies big and small are pioneering different types of
innovation to quickly advance POCT, an opportunity born out of
necessity. COVID-19 may have put a spotlight on the market, but the
trend was already in the works — the pandemic just expedited the
inevitable.
A leader in
POCT, Abbott Laboratories (NYSE:
ABT) delivers more than one billion tests
worldwide, resulting in shortened treatment times and improved
outcomes. For example, HIV patients who were tested with a POC
device received antiretroviral therapy (“ART”) treatment 130 days
faster than those diagnosed with the help of a traditional lab. In
addition, heart-failure patients who received a POC test were
discharged from the hospital three days sooner than those who
didn’t have the advantage of POC testing, improving both economic
and healthcare outcomes.
Roche
Holding AG ADR (OTCQX: RHHBY) has a POCT goal
to provide
products that help healthcare professionals and patients
alike achieve improved clinical and health-economic outcomes. The
company does this by delivering robust, connected, easy-to-use POC
solutions outside the central lab, providing immediate results and
allowing treatment decisions to be made more quickly, both inside
and outside of the hospital. Roche Point of Care delivers those
solutions meeting the clinical need for quick and accurate test
results delivered where needed and when needed, whether on a
device, in the electronic healthcare record, to the clinician on
the move or directly to the patient.
Walgreens Boots Alliance Inc. (NASDAQ:
WBA) is actively supporting POCT with
its free,
contactless COVID-19 testing for patents age three and up
at locations across the country. The company has a century-old
reputation for innovating and is dedicated to providing
pharmacy and health and wellness services in communities
across America. The company has a strong digital platform and its
Walgreens Find Care platform offers telehealth service providers,
connecting patients and customers with options to access convenient
and affordable care from their mobile device.
IQVIA Holdings Inc. (NYSE:
IQV) supports healthcare with its Real World
Data technology, which provides a combination of clinically
rich data, advanced analytics; and human knowledge throughout the
clinical development pathway. Real World Data can be used for many
different objectives across the drug-development lifecycle from
development to after commercialization. With this data, studies can
start sooner, drugs can get to market faster and patient safety can
be firmly established.
Innovation in data, development, equipment and accessibility
have fueled the evolution that is reshaping healthcare and enabling
faster diagnoses and treatment as well as improved patient care.
The movement is saving lives and money — both indescribable
benefits that will undoubtedly ensure continued growth and progress
moving forward.
For more information about Avricore Health
Inc., please visit Avricore Health
Inc.
About NetworkNewsWire
NetworkNewsWire (“NNW”) is a financial news and
content distribution company, one of 50+ brands within
the InvestorBrandNetwork (“IBN”), that
provides: (1) access to a network of wire
solutions via InvestorWire to reach all target markets,
industries and demographics in the most effective manner
possible; (2) article and editorial
syndication to 5,000+ news outlets; (3)
enhanced press release solutions to ensure maximum
impact; (4) social media distribution via IBN
millions of social media followers; and (5) a
full array of corporate communications solutions. As a multifaceted
organization with an extensive team of contributing journalists and
writers, NNW is uniquely positioned to best serve private and
public companies that desire to reach a wide audience comprising
investors, consumers, journalists and the general public. By
cutting through the overload of information in today’s market, NNW
brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text
“STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the
NetworkNewsWire website applicable to all content provided by NNW,
wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article
and content set forth above. References to any issuer other than
the profiled issuer are intended solely to identify industry
participants and do not constitute an endorsement of any issuer and
do not constitute a comparison to the profiled issuer. The
commentary, views and opinions expressed in this release by NNW are
solely those of NNW. Readers of this Article and content agree that
they cannot and will not seek to hold liable NNW for any investment
decisions by their readers or subscribers. NNW is a news
dissemination and financial marketing solutions provider and are
NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy
any security.
The Article and content related to the profiled company
represent the personal and subjective views of the Author, and are
subject to change at any time without notice. The information
provided in the Article and the content has been obtained from
sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all
such information. None of the Author, NNW, or any of their
respective affiliates, guarantee the accuracy or completeness of
any such information. This Article and content are not, and should
not be regarded as investment advice or as a recommendation
regarding any particular security or course of action; readers are
strongly urged to speak with their own investment advisor and
review all of the profiled issuer’s filings made with the
Securities and Exchange Commission before making any investment
decisions and should understand the risks associated with an
investment in the profiled issuer’s securities, including, but not
limited to, the complete loss of your investment.
NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. “Forward-looking statements” describe future expectations,
plans, results, or strategies and are generally preceded by words
such as “may”, “future”, “plan” or “planned”, “will” or “should”,
“expected,” “anticipates”, “draft”, “eventually” or “projected”.
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company’s annual report on Form 10-K or 10-KSB and
other filings made by such company with the Securities and Exchange
Commission. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this
release are made as of the date hereof and NNW undertakes no
obligation to update such statements.
Avricore Health (TSXV:AVCR)
Historical Stock Chart
From Oct 2024 to Nov 2024
Avricore Health (TSXV:AVCR)
Historical Stock Chart
From Nov 2023 to Nov 2024
