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SG Blocks to Manufacture Two High-Complexity Mobile CLIA-Certified Laboratories
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
SG Blocks, Inc. (NASDAQ: SGBX) has announced its plans to enter the medical diagnostic testing sector by developing mobile modular laboratories. Located at the SG Echo campus in Durant, Oklahoma, the new product aims to provide CLIA-certified testing solutions for various diseases, including COVID-19. The mobile labs, measuring 40 feet and equipped for a broad range of diagnostic tests, target industries such as sports, universities, and entertainment. The initiative stems from an identified market need for accessible and efficient healthcare testing.
Positive
Launch of mobile modular CLIA-certified laboratories for point-of-care testing.
Targeting diverse sectors including sports teams and universities.
Ability to test for multiple diseases, enhancing service versatility.
Negative
None.
The Company plans to expand in the medical diagnostic testing space via mobile modular units.
NEW YORK--(BUSINESS WIRE)--
SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator and fabricator of modular structures, announced today that the Company has developed a new modular laboratory product at the SG Echo campus in Durant, Oklahoma and plans to build and deploy mobile intermodal CLIA-certified laboratories for point-of-care healthcare testing.
High-Complexity Mobile CLIA-Certified Laboratories (Photo: Business Wire)
SG Blocks will own and operate these units, providing its own end-to-end solution including both staffing and billing. Clients from various industries and sectors such as sports teams, universities, entertainment companies, and more will be targeted to hire SG Blocks to deploy the flexible mobile unit wherever needed.
“We have seen a great need for adaptable and efficient healthcare testing through our deep-dive into COVID-19 testing,” Paul Galvin, Chairman and CEO of SG Blocks explained. “While we have seen great success thus far with our partners, we believe we are ready to create and deploy these mobile modular units solely through SG Blocks and intend to make waves in the point-of-care medical diagnostic testing space. It’s really just the beginning for us in the medical field.”
The mobile CLIA lab unit will be 40 feet and be attached to a custom trailer solution with the ability to provide a full array of diagnostic testing inclusive of COVID-19.
The labs will be fully mobile and have the potential capacity to test for various diseases and infections from urinary tract infections, to cancer, COVID-19 and the flu.
“We decided to move forward with this plan after over a year of inquiries from both public and private entities, national and international events,” Paul Galvin continued. “There is clearly a need in the market for better, faster, and easily accessible diagnostic testing, and our solutions enable exactly that.”
SG Blocks envisions deploying these medical units at transportation hubs, events, border check-points, campuses, and Native American reservations.
About SG Blocks, Inc.
SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel™, the structural core and shell of an SG Blocks building, and then customized to client specifications. For more information, visit www.sgblocks.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding plans to build and deploy mobile intermodal CLIA-certified laboratories for point-of-care healthcare testing, the Company being ready to create and deploy the mobile modular units solely through the Company and plans to expand in the medical diagnostic testing space via mobile modular units. While SG Blocks believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to build and deploy mobile intermodal CLIA-certified laboratories for point-of-care healthcare testing as planned, the Company’s ability to create and deploy the mobile modular units solely through the Company, the Company’s ability to expand in the medical diagnostic testing space via mobile modular units, the Company’s ability to position itself for future profitability, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
