Collection Sites Launches COVID-19 Testing Site at Town of East Hampton’s Town Hall Campus; Medivolve Inc. Name Change Becomes Effective Today
TORONTO, Jan. 06, 2021 (GLOBE NEWSWIRE) — Medivolve Inc. (“Medivolve”) (formerly “QuestCap Inc.”) (NEO:MEDV; OTC:COPRF; FRA:34C1) is pleased to announce the opening of a new collection site at the Town of East Hampton’s Town Hall Campus. This site will provide COVID-19 testing services for an initial term of 6-months. With individual sites currently achieving strong sales with 7-day rolling average of 96 tests per day and average test price exceeding US$95 per test, this one site can add substantively to Medivolve’s top-line revenue.
In addition, the Company announces that trading of its common shares under its new name “Medivolve Inc.” and new ticker “MEDV” on the NEO is expected to commence on January 6, 2021, one day earlier than as previously stated in a press release dated December 29, 2020.About the East Hampton Collection Site OpeningLocal media has also recognized the value of Collection Sites COVID-19 testing centres, covering the launch of the site with an article (view article). Please note this site be a standard walk-up testing site. With a strong location and a town population of over 20,000, this testing site is expected to generate strong sales over the period of operation.“After working closely with the Town of East Hampton, we are happy to officially launch the collection site and provide COVID-19 testing services to local residents,” says Mr. Tim Shelburn, President of Collection Sites. “As individuals return from holiday, we expect a strong demand for testing, especially as local media provide continued recognition for our testing centres.”The pop-up labs will be managed by Las Vegas based company Collection Sites, LLC and powered by Alcala Testing and Analysis Services, a CLIA-licensed laboratory based in San Diego, California. Appointments and payments will be handled through an online portal www.testbeforeyougo.com.The key to flattening the curve is to increase testing.The testing centers will offer convenient access to rapid antibody and antigen (pending availability) tests – which take 8-10 minutes to administer and provide results within 24 hours. The sites also offer regular RT-PCR. All tests can be administered with insurance coverage options. The tests results can be communicated via text or email and can be accompanied with a certificate of good health via a HIPAA-compliant smartphone application.For more information about the pop-up lab, the available sites and services visit www.testbeforeyougo.com.About Medivolve Inc.Medivolve Inc. (NEO:MEDV; OTC:COPRF; FRA:34C1) seeks out disruptive technologies, ground-breaking innovations, and exclusive partnerships to help combat COVID-19 and generate remarkable risk-adjusted returns for investors. Specifically, Medivolve offers investors a diversified investment in the COVID-19 medical space across three areas; prevention, detection, and treatment.Medivolve has a team of renowned global medical and business advisors that have developed a proprietary business strategy to capitalize on high-margin opportunities in the COVID-19 space. This panel includes prominent immunologist Dr. Lawrence Steinman and Dr. Glenn Copeland, who has 45 years of experience in orthopaedic treatment, foot and ankle care, and sports medicine.Medivolve’s primary focus is the sale of COVID-19 IgG/IgM antibody tests authorized by FDA under an EUA for use by authorized laboratories. This is achieved largely through two acquisitions: 100% of Collection Sites, LLC and 28% of Colombian Sanaty IPS. Collection Sites is setting up a series of COVID-19 testing sites across the United States with appointments and payments will be handled through the online portal www.testbeforeyougo.com. Sanaty is setting up a series of full-service medical clinics offering a complete COVID-19 testing solution.For additional information, please contact:Doug Sommerville, CEO
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+1-508-643-8000Cautionary Note Regarding Forward-looking InformationThis press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the agreement among Collection Sites LLC and the Town of East Hampton; the proposed roll-out of testing sites; projected timelines for testing results; projected revenues from the testing; the pursuit by Medivolve of investment opportunities; and the merits or potential returns of any such investments. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”,, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.