ShopHQ Offers Exclusive FDA-Authorized, At-Home COVID-19 Tests
iMedia Brands has made history as the first media company to offer an FDA-authorized, at-home COVID-19 test for U.S. consumers. Launched on January 2, 2021, through its ShopHQHealth network, this initiative aims to tap into the $11 billion U.S. telehealth market. The saliva-based tests deliver results within 48 hours and involve a CDC-compliant health screening. The offering qualifies for FSA/HSA reimbursement, maintaining consumer privacy through HIPAA protections. CEO Tim Peterman emphasized the company’s commitment to enhancing health management from home.
- First media company to offer at-home COVID-19 testing, positioning itself as a leader in telehealth.
- Targets the $11 billion telehealth marketplace, potentially increasing revenue streams.
- Saliva-based, EUA-authorized tests provide results in 48 hours, offering convenience to consumers.
- The product qualifies for FSA/HSA reimbursement, making it financially accessible.
- None.
iMedia becomes first media company to offer COVID-19 testing to U.S. consumers in their homes
MINNEAPOLIS, Jan. 05, 2021 (GLOBE NEWSWIRE) -- iMedia Brands, Inc. (the “Company”) (Nasdaq: IMBI) television networks ShopHQ, ShopHQHealth and ShopBulldogTV have become the first and only shopping television networks to offer an FDA-authorized, at-home COVID-19 test to consumers in the United States.
The Company’s ShopHQHealth television network is squarely focused on the growing
The core customer in the Telehealth space is the same core customer iMedia interacts with today, men and women who are 45 and older. The Company believes the growth in this marketplace is being driven by consumers who are seeking to purchase an advanced level of health education, products and/or services at lower costs via interactive video in their own homes. Based on these characteristics, the Company believes it is strategically situated to capture a meaningful share of this growing marketplace.
The Company officially launched its COVID-19 test on live national television on January 2nd with Dr. Terry Dubrow and broadcast it across its television networks and streamed across its associated websites and OTT Apps. iMedia is offering consumers a highly effective, Emergency Use Authorized (“EUA”), safe and reliable solution to help them combat the spread of COVID-19 from their own homes.
iMedia has partnered with Biotech Accelerated to facilitate and operate this testing program, along with P23 Labs as its FDA EUA authorized testing lab facility.
iMedia’s tests are saliva-based, rRT-PCR tests, which are the gold standard in molecular diagnostics and the most accurate type of test for COVID-19. iMedia is making it easy and affordable for its customers to test from their own homes and receive results within 48 hours.
A physician’s order is provided to the customer after a CDC-compliant health screening is completed. The collection device, which is overnighted to the lab after collection, inactivates the SARS-CoV-2 virus on contact, which makes the test safer for transport. Refrigerant or cold-chain processing is not required, which reduces the risk of false-negative test results. Results are then delivered through an encrypted portal via text and email. As part of the product, iMedia offer its customers a telemedicine medical review of the results with a healthcare professional.
Equally important, iMedia’s product offering qualifies for FSA/HSA reimbursement, and the results of these tests are maintained in a HIPAA-protected database through Curogram to ensure consumer privacy.
“As I have talked about since the launch of our ShopHQHealth TV network, these large, fast-growing telehealth marketplaces are important opportunities for us,” said Tim Peterman, CEO of iMedia Brands. “ShopHQHealth’s reason for being is to help consumers manage their health and wellness from their own homes. We are just getting started.”
About iMedia Brands, Inc.
iMedia Brands, Inc. (Nasdaq: IMBI) is a leading interactive media company that owns a growing portfolio of lifestyle television networks, consumer brands and media commerce services. Its brand portfolio spans multiple business models and product categories. Its television brands are ShopHQ, ShopBulldogTV, ShopHQHealth and LaVenta. Its media commerce services brands are Float Left Interactive and i3PL. Its consumer brands include J.W. Hulme, Live Fit and Indigo Thread. Please visit www.imediabrands.com for more investor information.
About Biotech Accelerated, LLC
Biotech Accelerated is a biotechnology company that strives to bring the best health technology to public and private communities locally and internationally. It is currently and actively delivering solutions for the COVID-19 Pandemic to corporations, governments, and individuals. Contact media@biotechaccelerated.com with inquiries or visit biotechaccelerated.com.
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