(Alliance News) -Â MyHealthChecked PLC on Monday said it has signed a second contract with pharmaceutical and beauty retailer Boots UK Ltd for its at-home Covid-19 nasal swab kit, extending its offering to include tests for international arrivals to the UK.
Shares in home-testing healthcare company MyHealthChecked were up 19% at 5.00 pence in London on Monday.
The latest contract with Boots is for the supply of the MyHealthChecked at-home kit, laboratory testing service and logistics for international arrivals, on day two and day eight after they enter the country. The tests are available to buy on the Boots website from Monday.
This contract will run parallel to the agreement announced April 7, in which MyHealthChecked kits are available to buy in Boots stores for general testing and those who need a test before flying out of the country.
"The contract is expected to have a significant impact on the future performance of the MHC business and whilst volumes are unquantified at this stage, the board believes it is likely to result in substantial revenue growth in the current financial year ending 31 December 2021," the company said.
The agreement is on a non-exclusive basis and has an initial 12-month term.
"This is another milestone for MyHealthChecked as currently Boots' only at-home testing kit provider for Covid-19, and we are delighted to build on our pre-existing agreement as the nation begins to open up and we anticipate the possibility of travel with the introduction of the traffic light system," said Chief Executive Penny McCormick.
Yourgene Health PLC noted partner MyHealthChecked's announcement. A proportion of the MyHealthChecked Covid-19 tests will be processed at Yourgene's laboratory in Manchester, which is "well equipped to deal with the anticipated increased demand" for day two and day eight testing.
In addition, samples processed at MyHealthChecked's own laboratories will use Yourgene's test kit.
"This further contract with Boots is another significant milestone for MyHealthChecked and Yourgene is pleased to continue supporting their Covid-19 testing service and product supply to their laboratory. With the introduction of the new traffic light system in the UK for global travel, we will see an increased demand for D2/D8 testing, as travel resumes, and this further contract for MyHealthChecked is a testament to the quality of the service provided," said Lyn Rees, chief executive of Yourgene Health and non-executive director at MyHealthChecked.
Yourgene shares were unchanged at 13.00p on Monday, having earlier risen as high as 13.80p.
By Lucy Heming;Â lucyheming@alliancenews.com
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Myhlth Chck (MHC)