Statement re. COVID-19 testing
17 September 2021
MyHealthChecked Plc (AIM: MHC), the consumer home-testing healthcare company, notes the recent Government statement regarding measures to simplify international travel.
As announced in the 7 July Trading update H1 revenues dramatically increased to £3.27m (H1 2020: £12,700) driven by COVID-19 testing services. This trend has continued into Q3 with monthly testing volumes exceeding those seen in the final two months of H1. Further information on Q3 trading will be provided in the results statement scheduled for Wednesday 29 September 2021.
Whilst the Government has announced the removal of Day 2 testing from an October date to be confirmed, the Directors remain confident that monthly testing volumes will remain a significant contributor to growth throughout the remainder of the financial year, even with levels naturally lower than the peak levels seen around summer holiday period. These revenues are still expected to contribute significantly to the results for the financial year ending 31 December 2021 and the Directors remain very optimistic about the business prospects for the full year.
The requirements surrounding PCR testing for out-bound travel, the "Fit to Fly" scheme, have not changed and Directors expect to see these volumes continuing. The Directors also expect that these newly announced changes to international travel will encourage more people to travel abroad from the UK, and that this will contribute to a rise in out-bound testing volumes.
As already stated, the Company's genomic testing service has been focussed on its COVID-19 testing offering, however it provides the foundation to create a wider portfolio of easy to use DNA tests over the longer-term. MyHealthChecked plc has a strong pipeline of genetic tests outside of COVID-19 to ensure long-term sustainable revenue growth.
For further information contact:
Penny McCormick, Chief Executive Officer
via Walbrook PR
Gareth Davies, Chief Financial and Operations Officer
SPARK Advisory Partners Limited (NOMAD)
Tel: +44 (0)20 3368 3550
Oberon Capital Ltd (Broker)
Tel: +44 (0)203 179 5344
Walbrook PR Ltd (Media & IR)
Tel: +44 (0)20 7933 8780 or [email protected]
Paul McManus / Alice Woodings
Mob: +44(0)7980 541 893 / +44 (0)7407 804 654
About MyHealthChecked PLC (www.myhealthcheckedplc.com)
MyHealthChecked PLC, based in Cardiff, is an AIM-quoted pioneering UK healthcare company focused on a range of at-home healthcare and wellness tests.
MyHealthChecked is the umbrella brand of a range of at-home DNA and RNA tests, now in development following the acquisition of The Genome Store in November 2020. The tests will be made available online, and would be viable for over the counter purchase.
The MyHealthChecked portfolio has been identified as part of a change in mindset as customers become more familiar with the concept of accessible healthcare in the growing at home testing kit market with a focus on accessibility at the right price, led by UK-based experts.