Overview

The point-of-care testing (POCT) market is expected to reach US$103.2 billion by 2030 from US$40.6 billion in the year 2021 at a CAGR of 10.92 percent from 2022 to 2030.

The accessibility of POCT has been an increasing priority of the world’s leading health organizations and experts. Pharmacies are ideal ‘hubs’ within the community to offer patients better access to the numbers they need to know for preventing or treating conditions such as diabetes and heart disease or the timely diagnosis of infection.

Avricore Health Inc. (TSXV:AVCR, OTCQB: AVCRF) is a pharmacy service innovator focused on acquiring and developing early-stage technologies aimed at moving pharmacy forward. Through its flagship offering HealthTab™ (a wholly owned subsidiary), its mission is to make actionable health information more accessible to everyone by creating the world’s largest network of rapid testing devices in community pharmacies.

HealthTab™ is a turnkey point-of-care testing solution that effectively turns pharmacies into diagnostic hubs (sometimes known as ‘Community Diagnostic Centres’ or CDCs) and connects them on a single, cloud-based platform.

The HealthTab™ network model is unlike anything in pharmacy today. It gives knowledgeable and trusted pharmacists a greater role in primary care delivery while empowering patients to take more control of their health. It also reduces costs and waiting times and provides many potential revenue streams including: equipment leasing & consumables, direct access testing, disease prevention & management programs, sponsored health programs, decentralized clinical trials, real-world data (RWD) sets, and third-party app integration through API. In June 2021, Avricore signed a master agreement with select Shoppers Drug Mart pharmacies to pilot the HealthTab™ platform. This agreement allows patients access to point-of-care blood screening and health-data management for potential risks for developing diabetes and cardiovascular conditions through the HealthTab™-integrated Afinion 2™ analyzers by Abbott Rapid Diagnostics.

Avricore is the first pharmacy solutions provider to partner with Abbott (NYSE:ABT), the global healthcare company and diagnostics leader in Canada. In May 2021, it signed a supplier distribution agreement to expand the distribution of Abbott’s Afinion 2™ and associated tests for diabetes and heart disease screening in community pharmacies in Canada. This agreement includes valuable HbA1c testing, a critical marker for the screening and management of diabetes.

Near-term goals for the company include expansion into more pharmacies across Canada, followed soon after by entering the US and UK markets. It has made significant strides in testing and developing its technology and is moving into the commercialization stage.

Strategic partnerships like Abbott and pharmacy-focused pilot opportunities advance Avricore closer to becoming an incredibly dominant player in the community diagnostics space. The company aims to make actionable health information more accessible for everyone by creating the world’s largest rapid testing network in pharmacy.

Company Highlights

• Avricore Health Inc is a pharmacy solutions provider that combines best-in-class point-of-care technologies with a secure, cloud-based platform for tackling pressing global health issues
• The wholly owned subsidiary, HealthTab™, offers fast, accurate and cost-effective point-of-care screening. With just a few drops of blood from a finger prick, results are available on the spot and data is available in real time.
• The current test menu includes up to 23 key biomarkers for screening and managing chronic diseases, such as diabetes and heart disease (e.g. HbA1c, Lipid Profile, eGFR). HealthTab™ also recently added capabilities for bacterial and viral tests, such as strep and COVID-19
• The company leverages strategic partnerships with notable names in the diagnostic space, including Abbott Rapid Diagnostics, a global healthcare company and leader in diagnostics. This partnership allows Avricore to use Abbott’s Afinion 2™ analyzer to offer high-quality, low-cost screening tests
• In June 2021, Avricore announced its master agreement to pilot its HealthTab™ platform for diabetes management in select Shoppers Drug Mart pharmacies
• Avricore’s ultimate aim is to make actionable health information more accessible to everyone by creating the world’s largest network of rapid testing devices in community pharmacy
• The company expanded patient testing with the HealthTab™ platform in select Shoppers Drug Mart® pharmacies in British Columbia, bringing its diabetes screening program to Western Canada for the first time.