Corporate News

MyHealthChecked Plc, the consumer home-testing healthcare company, announces its unaudited half year report for the six months ended 30 June 2021, a period of considerable growth driven by a dramatic ramp-up in COVID-19 PCR testing service revenues.

The Company also provides an update on further strong trading in Q3 (revenues of at least £8.5m, adjusted EBITDA* of no less than £1.4m, and cash generative for the first time) as well as a statement on trading outlook for the full year .

Commercial Highlights

• Signed two commercial agreements with Boots UK Limited for supply of COVID-19 PCR test kits and associated laboratory services
• Signed a commercial agreement with AAH Pharmaceuticals Limited (Lloyds Pharmacy) for supply of COVID-19 PCR test kits and associated laboratory services
• Acquisition and integration of Nell Health Limited, a provider of genetic testing and personalized nutrition consultancy
• Accreditation by UKAS of ISO 15189 stage 3

Financial Position

• Revenue of £3,274,145 during the period (H1 2020: £12,707)
• Adjusted EBITDA* loss of -£199,670 (H1 2020 : loss of -£1,171,359)
• Completion of share placing of £3.4m (before expenses) at 1.75p per share in Feb 2021   
• Cash balance at the period end was £2,214,496 (H1 2020 : £1,351,745)

*adjusted EBITDA is Operating profit adjusted for depreciation, amortisation and share based payments

Penny McCormick, Chief Executive Officer of MyHealthChecked Plc, said: “I’m incredibly proud of the progress the Company has made during the last six months. We have secured commercial contracts with both of the UK’s top pharmacy retailers, ending H1 2021 with a strong cash position and significantly increased revenues compared to H1 2020.

 “We continue to grow as an organisation and with our talented team, which has been enhanced through the acquisition of Nell Health, I look forward to seeing the Company go from strength to strength in H2. While COVID-19 has been the predominant focus for us during the last 12 months, I am excited to continue development of our extended product pipline to market and continue to build MyHealthChecked’s reputation for high-quality products and services.”

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.