Todos Medical Ltd (OTCQB:TOMDF) announced on Tuesday that it has struck a preferred vendor agreement to supply COVID-19 related testing products and services to Natural Wellness Clinics (NWC) for use in its efforts in testing the uninsured population in the Commonwealth of Kentucky.
NWC is a US military veteran-owned health care provider that offers communities a holistic approach. It enjoys a niche in implementing large-scale testing programs and logistics for state governments that it hopes may dovetail into vaccine distribution logistics.
According to the company, NWC recently signed a COVID-19 testing contract for up to nearly $93.4 million with the Commonwealth of Kentucky to test uninsured citizens. Continued funding was anticipated, however, budget concerns have impacted the initiative. In light of the changes in funding for COVID-19 testing for states governments across the US, Todos is working with the Commonwealth of Kentucky to identify the appropriate funding mechanisms that will allow this testing program to move forward.
“We are excited that we were able to work with Todos to ensure that we have a stable supply of testing products and services to administer testing programs for the Commonwealth of Kentucky,” said Eugene Martin, partner at NWC.
“Testing will be critical to the continued response to the COVID-19 pandemic, and we are hopeful to finalize a new testing arrangement to begin testing in January.”
CEO Gerald Commissiong pointed out that Todos Medical has spent “the last nine months positioning itself to work with groups that have state contracts” by getting access to the supply channels and lab partners to be able to service large contracts like the ones Natural Wellness Clinics is targeting.
“Under the previous agreement originally signed last week, we were expecting to provide EUA-authorized antigen tests for NWC to administer to the uninsured population and PCR testing results through our own or client labs to confirm that a suspected positive antigen case is in fact truly positive,” added Commissiong.
“We are confident that this relationship with Natural Wellness Clinics will serve as a model for how our organization can work directly with groups delivering testing services, and together deliver comprehensive testing solutions that meet any client’s needs.”
Headquartered in Rehovot, Israel, with a strong US presence, Todos is an in-vitro diagnostics company focused on solutions for COVID-19 screening and diagnosis, and developing blood tests for the detection of cancer and Alzheimer’s disease.
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