RNS Number : 5404U
06 April 2021
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("MyHealthChecked" or the "Company")
Agreement with Boots for COVID-19 sample collection kits
MyHealthChecked kits to be available on www.boots.com and in
Related Party Transaction
MyHealthChecked Plc (AIM: MHC), the consumer home-testing
healthcare company, announces that it has entered into an agreement
("Agreement") via its subsidiary Concepta Diagnostics Limited with
Boots UK Limited ("Boots"), the health and beauty retailer and
pharmacy group, to launch the MyHealthChecked(TM) COVID-19 at-home
nasal swab kit and PCR laboratory testing service via www.boots.com
and across Boots stores in Great Britain.
The general testing and pre-travel service will be launched
online at Boots shortly and will also be available at 507 Boots
stores in England, Wales and Scotland from April.
The MyHealthChecked(TM) COVID-19 testing kit allows customers to
take a nasal swab themselves at home and send samples safely and
securely via the Royal Mail Tracked 24 service to be tested using
established laboratory-based PCR detection methods. Testing is
undertaken at the Manchester-based laboratories of MyHealthChecked
and Yourgene Health plc (AIM: YGEN) and results are provided within
24-48 hours, via an online portal.
The Agreement has an initial term of 12 months from 6 April
2021, with a one-month notice period for termination thereafter.
Boots will act as non-exclusive agent for MHC for sales of the
testing kit, and will receive a commission on all sales made under
the Agreement through Boots' sales channels.
The Agreement is expected to have a significant impact on the
future performance of the MHC business and whilst volumes are
unquantified at this stage, it is likely to result in substantial
revenue growth in the current financial year ending 31 December
Agreement with Yourgene Health plc ("Yourgene")
In addition, the Company entered into an agreement ("Yourgene
Agreement") with Yourgene to act as the Company's exclusive
external provider of Testing Services. The Yourgene Agreement is
not for a fixed period but is subject to a six-month notice clause.
The minimum testing volume is 200 tests per week and 800 tests per
calendar month for the first three months from the Testing Services
start date. Product pricing for the agreement has been prepared on
an arm's-length basis.
Adam Reynolds (Chairman) and Lyn Rees (Non-Executive Director)
are both directors of Yourgene and hence entering into the Yourgene
Agreement has been treated as a related party transaction under the
AIM Rules for Companies ("AIM Rules"). Having consulted with SPARK
Advisory Partners Limited, the Independent Directors (those
directors other than Messrs Reynolds and Rees) consider that the
terms of the agreement are fair and reasonable insofar as
Shareholders are concerned.
MyHealthChecked(TM) offers the testing kits currently online via
www.myhealthchecked.com , and is in talks with a number of other
distribution channel partners.
Penny McCormick, Chief Executive Officer of MyHealthChecked Plc,
said: "We are delighted to finalise this agreement with Boots which
offers their customers a gold standard lab-based PCR testing
service for COVID-19 with a sample collection kit that can be used
at home. As the nation anticipates a potential ability to travel
this year with less restrictions, we may see accurate COVID-19 PCR
testing becoming a travel essential, and we have ensured a good
capacity level to respond to market demand. A further area for
customer consideration is the discomfort that can be involved with
nasopharyngeal or throat swabs. Our service resolves this by using
a gentle nasal swab that doesn't compromise the accuracy of the
test, providing a more comfortable customer experience".
"It is also a testament to the service and our partners involved
in the provision of these kits and the testing service itself that
this deal concludes after months of careful due diligence by Boots.
We know that the quality and accuracy of this service is second to
none and this agreement is a highly credible endorsement of
MyHealthChecked plc www.myhealthchecked.com
P enny McCormick , Chief Executive via Walbrook PR
Maddy Kennedy, Chief Financial
SPARK Advisory Partners Limited Tel: +44 (0)20 3368 3550
Oberon Capital Ltd (Broker) Tel: +44 (0)203 179 5344
Mike Seabrook firstname.lastname@example.org
Walbrook PR Ltd (Media & Tel: +44 (0)20 7933 8780 or email@example.com
Paul McManus Mob: +44(0)7980 541 893
About MyHealthChecked PLC ( www.myhealthcheckedplc.com )
MyHealthChecked PLC, based in Cardiff, is an AIM-quoted
pioneering UK healthcare company with two diverse, customer-facing
at-home testing brands in its portfolio:
MyHealthChecked is the umbrella brand of a range of at-home DNA
and RNA tests, now in development following the recent acquisition
of The Genome Store. 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
Mylo targets the personalized mobile health market, with a
primary focus on hormone testing and increasing a woman's chances
of naturally getting pregnant, by enabling her to quantitively
track her levels of luteinizing hormone (LH) prior to
PCR: polymerase chain reaction
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(END) Dow Jones Newswires
April 06, 2021 08:54 ET (12:54 GMT)