Intelligent Bio Solutions Expands Presence in the UK Retail Sector with Major Account Acquisitions
June 27 2024 - 7:30AM
Intelligent Bio Solutions Inc. (Nasdaq: INBS) ("INBS" or the
"Company"), a medical technology company delivering intelligent,
rapid, non-invasive testing solutions, today announced the
expansion of its customer network within the UK retail
sector. This includes the adoption of INBS' Intelligent
Fingerprinting Drug Screening System by three prominent UK
retailers, among the largest and most recognized in the country.
The recently secured accounts employ over 55,000
individuals and include a British multinational retailer
specializing in clothing, footwear, and accessories, a major
UK-based kitchen retailer and manufacturer, and a British retail
group specializing in sports and leisure clothing, footwear, and
equipment. Two retailers have transitioned from traditional
third-party saliva testing to INBS's fingerprint drug screening
technology. The switch to a more streamlined, hygienic, and less
invasive testing methodology has addressed business and policy
alignment issues and previous testing inefficiencies, facilitating
smoother processes that enable larger testing volumes.
Doug Heath, Vice president of Global Sales at
INBS, commented, "Our reach continues to extend into new sectors,
indicating a demand for drug testing beyond just safety-critical
industries. We're seeing more businesses taking proactive measures
to ensure workplace safety and protect their reputation as
responsible employers. We are very pleased to welcome these
prominent retail partners into our growing network."
INBS' first-of-its-kind solution uses
fingerprint sweat to provide a quick, hygienic, and easy-to-use
method for drug testing, delivering results in just minutes. This
unique approach tests for common drugs of abuse, including cocaine,
cannabis, methamphetamine, and opiates.
About Intelligent Bio Solutions
Inc.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is
a medical technology company delivering innovative, rapid,
non-invasive testing solutions. The Company believes that its
Intelligent Fingerprinting Drug Screening System will revolutionize
portable testing through fingerprint sweat analysis, which has the
potential for broader applications in additional fields. Designed
as a hygienic and cost-effective system, the test screens for
recent use of drugs commonly found in the workplace, including
opiates, cocaine, methamphetamine, and cannabis. With sample
collection in seconds and results in under ten minutes, this
technology would be a valuable tool for employers in
safety-critical industries. Additionally, the Company's biosensor
platform has the potential to test for various indications, ranging
from immunological conditions to communicable diseases. The
Company's current customer segments include construction,
manufacturing and engineering, transport and logistics firms, drug
treatment organizations, and coroners.
For more information,
visit: http://www.ibs.inc/
Forward-Looking
Statements:
Some of the statements in this release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act
of 1934 and the Private Securities Litigation Reform Act of 1995,
which involve risks and uncertainties. Forward-looking statements
in this press release include, without limitation, Intelligent Bio
Solutions Inc.'s ability to successfully develop and commercialize
its drug and diagnostic tests, realize commercial benefit from its
partnerships and collaborations, and secure regulatory approvals,
among others. Although Intelligent Bio Solutions Inc. believes that
the expectations reflected in such forward-looking statements are
reasonable as of the date made, expectations may prove to have been
materially different from the results expressed or implied by such
forward-looking statements. Intelligent Bio Solutions Inc. has
attempted to identify forward-looking statements by terminology,
including "believes," "estimates," "anticipates," "expects,"
"plans," "projects," "intends," "potential," "may," "could,"
"might," "will," "should," "approximately" or other words that
convey uncertainty of future events or outcomes to identify these
forward-looking statements. These statements are only predictions
and involve known and unknown risks, uncertainties, and other
factors, included in Intelligent Bio Solutions' public filings
filed with the Securities and Exchange Commission. Any
forward-looking statements contained in this release speak only as
of its date. Intelligent Bio Solutions undertakes no obligation to
update any forward-looking statements contained in this release to
reflect events or circumstances occurring after its date or to
reflect the occurrence of unanticipated events.
Company Contact: Intelligent Bio Solutions
Inc. info@ibs.inc LinkedIn | Twitter
Investor & Media Contact:Valter Pinto,
Managing DirectorKCSA Strategic CommunicationsPH: (212)
896-1254INBS@kcsa.com
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