Parallax Health Sciences Inc (OTCMKTS:PRLX) said Monday that its subsidiary, Parallax Diagnostics Inc, has executed a joint venture supply chain agreement with the United States Marine Corps veteran-owned medical device company SAGICO USA for coronavirus (COVID-19) and personal protection equipment (PPE), from FDA-registered manufacturers.
SAGICO USA has a long track-record for getting US Food and Drug Administration (FDA) clearances, and other regulatory approvals for the distribution of medical products to government hospitals globally.
In a statement, the company said SAGICO USA and Parallax Diagnostics have “combined forces” to provide “reliable product procurement directly from international manufacturers” building on its established global manufacturing and diagnostics relationships stemming from its patented intellectual property.
“World leading inventories and end-to-end logistics services related to COVID-19 response are now available on our website,” the company noted.
Parallax said it is offering procurement managers — from both private and government entities — the ability to purchase much-needed PPE items from FDA-registered manufacturers. Items included on the Parallax online portal include “medical masks, invasive and passive ventilators, thermometers, medical protective gowns, face protection, other personal protective equipment and COVID-19 point of care test kits.” The PPE items are also available for export to any country, said the company.
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Nathaniel Bradley, who is the chief technology officer with Parallax Health Sciences, said the global response to the coronavirus pandemic has placed all three Parallax business pillars under “greater demand.”
“Our new relationship with Sagico USA will be instrumental in fortifying our operations and identifying the sustainable footholds in the market where we are focusing our efforts,” he added.
Most significantly, a coronavirus test is being developed on Parallax’s FDA-cleared and patented Target Diagnostics Test Platform, and the company believes it could be ready for the public by summer.
The company operates three subsidiaries: Parallax Behavioral Health handles the patient-monitoring platform; Parallax Diagnostics oversees diagnostics delivery with an FDA-cleared analyzer and 25 FDA-cleared blood and urine tests; Parallax Health Management provides outcomes-optimization software to promote behavior modification.
Contact the author Uttara Choudhury at [email protected]
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