G Medical Innovations' Subsidiary Expands COVID-19 Testing To Additional Locations In California

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  • G Medical Innovations Holdings Ltd's GMVD subsidiary, G Medical Tests and Services Inc, expanded its COVID-19 testing services to more than 150+ additional locations across California
  • The new testing sites include theme parks, schools, commercial properties, office complexes, public buildings, and mobile facilities. 
  • G Medical acquired the business conducting testing at the locations for a total of $5.2 million in cash, to be paid out in milestones.
  • The new sites will enable the processing of more than 200,000 COVID-19 PCR and rapid antigen/flu tests, with anticipated revenues of $20 million.
  • The company also reports it has repaid $2.5 million in cash on a $5 million convertible loan issued by Lind Partners.
  • The need for convenient COVID-19 PCR, Rapid Antigen/Flu testing, personal healthcare monitoring continues along with the company's Prizma Care remote patient monitoring directly to consumers.
  • Price Action: GMVD shares are up 7.64% at $2.96 during the market session on the last check Tuesday.
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