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Nov. 9, 2021, 10:13 a.m. EST

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

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Nov 09, 2021 (Baystreet.ca via COMTEX) -- 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. /zigman2/quotes/204872732/delayed CA:BLMH -18.75% , Abbott Laboratories /zigman2/quotes/203724446/composite ABT +4.08% , Becton, Dickinson and Company /zigman2/quotes/205527610/composite BDX +1.81% , Qiagen N.V. /zigman2/quotes/204869908/composite QGEN +2.70% , and Quest Diagnostics Incorporated /zigman2/quotes/201001842/composite DGX -0.17% .

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. /zigman2/quotes/204872732/delayed CA:BLMH -18.75% 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 /zigman2/quotes/203724446/composite ABT +4.08% 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 /zigman2/quotes/205527610/composite BDX +1.81% (or ‘BD’) for its BD Veritor [TM] 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. /zigman2/quotes/204869908/composite QGEN +2.70% 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 /zigman2/quotes/201001842/composite DGX -0.17% 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.

Article Source: https://equity-insider.com/2020/11/04/a-healthcare-company-with-a-technological-advantage/

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Bloom Health Partners Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Bloom Health Partners Inc. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Bloom Health Partners Inc. and reserves the right to buy and sell, and will buy and sell shares of Bloom Health Partners Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

COMTEX_396581061/2559/2021-11-09T10:12:42

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/204872732/delayed
CA : Canadian Securities Exchange
$ 0.26
-0.06 -18.75%
Volume: 32,650
Jan. 28, 2022 2:09p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$11.82 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/203724446/composite
US : U.S.: NYSE
$ 125.35
+4.91 +4.08%
Volume: 8.29M
Jan. 28, 2022 4:02p
P/E Ratio
31.74
Dividend Yield
1.50%
Market Cap
$212.97 billion
Rev. per Employee
$395,183
loading...
/zigman2/quotes/205527610/composite
US : U.S.: NYSE
$ 255.73
+4.54 +1.81%
Volume: 1.48M
Jan. 28, 2022 4:00p
P/E Ratio
37.34
Dividend Yield
1.36%
Market Cap
$71.60 billion
Rev. per Employee
$269,973
loading...
/zigman2/quotes/204869908/composite
US : U.S.: NYSE
$ 48.61
+1.28 +2.70%
Volume: 520,641
Jan. 28, 2022 4:00p
P/E Ratio
19.01
Dividend Yield
N/A
Market Cap
$10.81 billion
Rev. per Employee
$399,375
loading...
/zigman2/quotes/201001842/composite
US : U.S.: NYSE
$ 134.85
-0.23 -0.17%
Volume: 1.88M
Jan. 28, 2022 4:02p
P/E Ratio
8.10
Dividend Yield
1.84%
Market Cap
$16.57 billion
Rev. per Employee
$220,204
loading...
/zigman2/quotes/204872732/delayed
CA : Canadian Securities Exchange
$ 0.26
-0.06 -18.75%
Volume: 32,650
Jan. 28, 2022 2:09p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$11.82 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/203724446/composite
US : U.S.: NYSE
$ 125.35
+4.91 +4.08%
Volume: 8.29M
Jan. 28, 2022 4:02p
P/E Ratio
31.74
Dividend Yield
1.50%
Market Cap
$212.97 billion
Rev. per Employee
$395,183
loading...
/zigman2/quotes/205527610/composite
US : U.S.: NYSE
$ 255.73
+4.54 +1.81%
Volume: 1.48M
Jan. 28, 2022 4:00p
P/E Ratio
37.34
Dividend Yield
1.36%
Market Cap
$71.60 billion
Rev. per Employee
$269,973
loading...
/zigman2/quotes/204869908/composite
US : U.S.: NYSE
$ 48.61
+1.28 +2.70%
Volume: 520,641
Jan. 28, 2022 4:00p
P/E Ratio
19.01
Dividend Yield
N/A
Market Cap
$10.81 billion
Rev. per Employee
$399,375
loading...
/zigman2/quotes/201001842/composite
US : U.S.: NYSE
$ 134.85
-0.23 -0.17%
Volume: 1.88M
Jan. 28, 2022 4:02p
P/E Ratio
8.10
Dividend Yield
1.84%
Market Cap
$16.57 billion
Rev. per Employee
$220,204
loading...

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