Emerging Markets Report: Rapid and Real Time
Relay Medical Corp. (OTC: RYMDF) announced a significant partnership with LifeLabs to deploy the Fionet Platform for rapid COVID-19 testing across Canada. This technology offers automated, quality-controlled testing with results in 15 minutes, making it accessible in community settings, including airports. LifeLabs, supporting over 20 million patient visits and conducting 100 million tests annually, enhances Relay Medical's reach and market presence. Each Fionet device can process 60 tests per hour, opening up substantial business opportunities in rapid testing services.
- Partnership with LifeLabs enhances market reach and testing capacity.
- Fionet Platform offers rapid testing with results in 15 minutes.
- Each Fionet device can process 60 tests per hour, increasing potential revenue.
- None.
An Emerging Markets Sponsored Commentary
ORLANDO, Fla., May 05, 2021 (GLOBE NEWSWIRE) -- Allow us to introduce Relay Medical Corp. (CSE: RELA, OTC: RYMDF, Frankfurt: EIY2). The Company is a technology innovation company headquartered in Toronto, Ontario, with a team of Canadian experts focused on the development of novel technologies in the diagnostics, AI data science sectors, and IoT cybersecurity sectors. Relay Medical announced on April 14, 2021 that together in conjunction with Fio Corporation and Fio’s joint venture company, Fionet Rapid Response Group, an agreement with LifeLabs was completed, to deploy the Fionet Platform for COVID-19 rapid testing and real-time tracking across Canada, and will be used to launch the Company’s platform to support COVID-19 testing at Canada’s largest international airport Pearson International.
For those south of the Canadian border, LifeLabs is Canada’s largest provider of specialty laboratory testing services, laboratory diagnostic information and digital health connectivity systems. For Relay Medical, this is a major partner who can introduce this technology far and wide.
LifeLabs supports 20 million patient visits annually and conducts over 100 million laboratory tests through leading edge technologies and its 6,000 employees.
It’s a massive footprint. And it’s much needed.
A quote from Dr. Greenberg who is the CEO of Fionet Rapid Response, says it best.
“COVID-19’s threat to personal and economic well-being across the country created a need for innovation in technology and service. Through this alliance, LifeLabs and FRR are bringing into any community setting the caliber of automated, quality-controlled testing and tracking that previously was available only in centralized lab facilities.”
And that’s what’s significant here in our estimation… that FRR can bring this fast, accurate testing to any community directly, instead of compelling them to go to a lab and wait to find out results.
Now, LifeLabs will provide the Fionet Platform in community-based settings at multiple sites across Canada, including airports, pop-up labs, and installations for small businesses.
The business opportunity on top of this public service is that each Fionet device can process 60 tests an hour and provide results within 15 minutes, on a fee per test basis.
There is both a massive need and a massive opportunity in the offering which provides rapid results in real time.
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FAQ
What is the significance of Relay Medical's partnership with LifeLabs on April 14, 2021?
What testing capabilities does the Fionet Platform offer for COVID-19?
How does Relay Medical benefit from deploying the Fionet Platform in community settings?
What are the key features of LifeLabs, as mentioned in the press release?
What market potential does Relay Medical see with the Fionet Platform?
