Increased Testing Demand Leading to More Healthcare Security Options in the Workplace

VANCOUVER – Equity Insider - After the launch of US President Joe Biden’s pushing of mandatory vaccination/testing in the workplace, new problems have arisen, such as expensive testing costs, and rampant supply shortages. On top of that, accuracy issues have also plagued the cause, as a series of false positive test results demonstrated on the popular TV show The View recently, and highlighted flaws in current Covid-19 testing protocols. False positives are becoming increasingly likely, with false positive rates as high as 16.7%. Now new options for businesses and their employees are coming from companies such as Bloom Health Partners Inc. (CSE:BLMH), Abbott Laboratories (NYSE:ABT), Becton, Dickinson and Company (NYSE:BDX), Qiagen N.V. (NYSE:QGEN), and Quest Diagnostics Incorporated (NYSE:DGX).

Now with the USA’s pending mandates coming from Occupational Health and Safety Administration (OSHA) and the Biden Administration, organizations with more than 100 employees will be required to either have employees vaccinated or test regularly.

In the wake of this shift, global healthcare security, diagnostic treating and occupational health-tech providers Bloom Health Partners Inc. (CSE:BLMH) have steadily gained new clients with their scalable, integrated platform that manages health and safety data in the workplace. The company is coming off of a recent rebranding from its previous name, Maitri Health.

"Going to market with our new brand marks an exciting milestone for our business," said Andrew Morton, CEO of Bloom. "We've worked hard over the past few months to align health services, products and strategy on a single platform.”

After the acquisition of Round Hill Health Partners LLC on July 14, 2021, Bloom has since combined its network of labs and clinical expertise with a cloud software platform strategy.

Now operating under one brand, Bloom is defining 'Occupational Health Tech' as a complete solution for organizations to run safely today and more efficiently in the future.

Bloom’s clients include film and tv productions, Fortune 500, government, sports and entertainment, and the company has reported experiencing tremendous demand for testing across the US and Canada.

“We've created a unified brand message for our clients that represents a focus on intelligent health products and services,” added Morton. “Bloom is defining a new category: Occupational Health-Tech. Our platform combines technology, laboratories, advisory services and clinical expertise. We're successfully getting clients through the pandemic and helping them structure health strategies that will continue through the years to come."

As an end-to-end provider, Bloom has onsite clinical services, best in class laboratories and advisory services integrated with a data driven digital platform.

Abbott Laboratories (NYSE:ABT) has witnessed similar trends, especially for its BinaxNOW tests, which spokesperson for the company, John Koval, claims are seeing “unprecedented demand”.

“Today, there are tens of millions of BinaxNOW tests in various settings and supply chains,” Koval said in an email. “We're working with our customers to ensure tests get to where they're most needed and we're ramping back up, as we did last year… There will be some supply constraints over the coming weeks as increased capacity comes online.”

Unfortunately for Abbott, in mid October, issues regarding false-positives and accuracy led to a recall of two lab test kits, according to the FDA.

Earlier this year the FDA granted an Emergency Use Application (EUA) to Becton, Dickinson and Company (NYSE:BDX) (or ‘BD’) for its BD VeritorTM At-Home Covid-19 Test—the first at-home Covid-19 rapid antigen test to use computer vision technology in a smartphone to interpret and provide digital display of testing results.

"The rise in COVID-19 cases from the Delta variant has increased the demand for at-home testing, and the BD Veritor™ At-Home COVID-19 Test is an easy-to-use test with definitive digital results that is ideal for use in the home," said Dave Hickey, president of Life Sciences for BD. "New mandates from governments and businesses are specifying the need for periodic testing for those who cannot or chose not to be vaccinated, and this new test may help businesses, governments or schools fulfill those requirements."

The BD Veritor™ At-Home COVID-19 Test is designed to be easily performed at home by people 14 years of age or older, using Scanwell Health's app to provide clear digital results in 15 minutes.

Another home test from German genetic testing specialists Qiagen N.V. (NYSE:QGEN) is seeking to capitalize on the detection of even more everyday infections. So far, Qiagen’s net profit of $250m in the first six months of 2021 has been almost double that of the same period in 2020, when Covid-19 testing was still limited.

“[Demand for Covid-19 tests] completely changed the paradigm for a company like ours,” Thierry Bernard, chief executive, told the Financial Times. The shift exploded the value of Qiagen, which saw multibillion takeover attempts from majors in the industry last year.

After being much more conservative in its estimates earlier this year, Quest Diagnostics Incorporated (NYSE:DGX) recently updated its outlook in late October.

"We have raised our outlook for the remainder of the year based on higher than anticipated COVID-19 volumes," the company said.

The company raised its full-year forecast for profit and revenue and beat third-quarter estimates, on strong demand for its COVID-19 tests due to the spread of the virulent Delta variant in the United States.

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