Relay Medical (CSE: RELA) this afternoon announced that it has seen its joint venture, Fionet Rapid Response Group, engaged by the Greater Toronto Airports Authority for on site COVID-19 rapid testing and real time reporting. The announcement marks a major achievement for the company.
The testing program is to begin next week, on March 1, 2021. The program will see the company deploy the Fionet digital workflow, testing, and data infrastructure at the Toronto Pearson Airport as it works to assist in managing the threat of COIVD-19.
The platform as a whole is to see patient scheduling, rapid test processing, integration with PCR devices, integration with multiple rapid diagnostic tests, and managing all corresponding data. The high throughpout solution is to see multiple point of need devices deployed across the airport to support mass testing in a high volume environment.
Sponsored · Altamira Gold Corp.
Healthcare staffing to administer tests and operate devices will be contracted out by the JV to that of OnPoint1 Health, while medical oversight is to be provided by Medevaq.
“Widespread rapid testing combined with real-time data tracking can be a powerful tool for organizations of any industry to proactively screen individuals and help prevent virus transmission. Combined with other public health measures, this can help communities begin to reopen with confidence. We look forward to making our innovative testing solutions more broadly available to many more organizations supporting a safe return to daily life.”
Yoav Raiter, CEO of Relay Medical
Commercial terms of the agreement have been agreed to by all parties, and a definitive agreement is expected to be executed by March 1. Further details will provided by the company at this time.
Relay Medical last traded at $0.80 on the CSE.
FULL DISCLOSURE: Relay Medical Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Relay Medical Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
