11 May 2023
MyHealthChecked PLC (AIM: MHC), the consumer home-testing healthcare company, provides an update to shareholders ahead of its Annual General Meeting (“AGM”) today at The Maltings, East Tyndall Street, Cardiff, CF24 5EA at 11.00 a.m.
Chairman’s AGM statement
We have made tremendous progress over the last year, not only delivering excellent financial results the second year in a row, but firmly establishing ourselves as a trusted partner in the wellness industry, with a strong record of reliability and delivery for customers and retail partners.
We remain well-positioned to deliver further success in 2023, particularly with the upcoming nationwide launch of an expanded portfolio of at-home wellness tests. As announced earlier in the week, we are at an advanced stage of negotiation with a key retail partner, and we look forward to supporting their commercial strategy to meet their customers' needs for at-home testing. We will update shareholders in due course.
The recent news that we are now successfully registered with the Healthcare Inspectorate Wales (‘HIW’) is an important milestone in our aim to support retail partners with a nationwide launch. It validates the quality of our at-home wellness testing service and our commitment to patient care and confirms to our partners that we operate to the highest standards.
Whilst we continue to see steady sales for COVID tests in 2023, as previously announced we do expect to see an overall reduction in demand. That said we remain capable of delivering against any unpredictable fluctuations in testing volumes that might occur throughout the year. A trading update for the six months ended 30 June 2023 will be provided in July.
We also look forward to confirming shareholder approval for the Share Consolidation, whereby 15 Existing Ordinary Shares will be consolidated into 1 ordinary share. We believe this will improve the marketability of our shares, by way of a higher share price, and hope that this will reduce share price volatility by narrowing the spread of the bid and offer price.
Ultimately, we remain focussed on the upcoming launch of our new tests and the further development of our digital platform, which we are confident provides a strong opportunity to create value for our shareholders and solidify our position as a leading wellness company.
For further information contact:
|Penny McCormick, Chief Executive Officer||via Walbrook PR|
|SPARK Advisory Partners Limited (NOMAD)||Tel: +44 (0)20 3368 3550|
|Dowgate Capital Limited (Broker)||Tel: +44 (0)20 3903 7715|
|David Poutney / Nicholas Chambers|
|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 rapid tests, as well as DNA, RNA and blood sample collection kits which have been created to support customers on their journeys to wellness. The tests are lateral-flow self-tests, and the sample collection kits enable the collection of blood, urine, nasal or mouth swab samples that are analysed in partner laboratories for a range of biomarkers. The tests will also be made available online and will 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.