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Biocept to provide coronavirus testing to mutli-state healthcare group

The deal will make Biocept one of two labs contracted to provide coronavirus tests to employees and patients within the group's network

Person wearing medical mask and nursing cap holding a vial of blood labeled 'coronavirus'
To date, Biocept has processed more than 6,500 coronavirus specimens using its existing PCR technology at its lab.

Biocept Inc (NASDAQ:BIOC) has announced an agreement with a California-based healthcare group to deliver coronavirus (COVID-19) testing to its skilled nursing facilities in multiple states.

The deal will make Biocept one of two labs contracted to provide coronavirus tests to employees and patients within the system.

A few of the group’s nursing facilities had already been relying on Biocept’s testing capabilities, and some have adopted the company’s new online coronavirus test ordering system for their patients, the company said. 

READ: Biocept takes on coronavirus testing, trims losses in 2Q results

"We began by providing COVID-19 testing services to a few facilities within this group, and they have been impressed by our quick turnaround times, with the vast majority of our COVID-19 testing results reported within 48 hours," Biocept CEO Michael Nall said in a statement. "They have also been pleased with our attentive customer service, test quality and online reporting capabilities.”

Biocept said its system makes ordering tests more efficient for clients and streamlines front-end onboarding with the company’s Clinical Laboratory Improvement Amendments-certified testing lab.

To date, Biocept has processed more than 6,500 coronavirus specimens using its existing PCR technology at its lab.

“We expect that COVID-19 testing volume performed by Biocept for this agreement will vary depending on COVID-19 positivity rates as facilities are required to continue to serially test when one test comes back as positive,” Nall added.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

Quick facts: Biocept Inc

Price: 4.49 USD

NASDAQ:BIOC
Market: NASDAQ
Market Cap: $60.14 m
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