The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
It looks to me like the credibility of the company has disappeared due to the ambiguity of the reason in the new products delay. Wasn't covid the reason for ditching the fertility tests last year? Groundhog day! Having said that they have got a product that is sold almost everywhere into the two massive high St pharmacies. Why do that if there was no more to follow. It would be easier to do a randox and tie up directly with the airlines and get 5mill plus website hits for their tests. If there is no more to the high St tie ups than covid then the price deserves to be at this level but there has got to me more to these tie ups. Well hopefully there is!
It's a pity that a business with 20 employees with a 10m + revenue has decreased its market cap. It looks like the pi have got bored and jumped. I wonder how the other covid companies are going to cope once they start generating covid revenue! Aim seems a mystery to me. I wonder whether the whole boots tie up and sales was a bit of a surprise and diverted the original plan. Im not sure how else it can be explained. Maybe they should look to explain this in greater detail. Looking at website traffic a guess is that boots sell 10 x more than through the mhc website. Hopefully the delay is all about getting the big boys on board with the new products. If there is no new news on commercial contracts at the investors presentation then I think the share price will struggle until sales of the new products are confirmed.
Article on day 2 lft tests. Seems to suggest they may have to be supervised and the cost might be comparable to pcr. Might just be a speculative article though.
https://www.express.co.uk/travel/articles/1498910/uk-travel-update-lateral-flow-PCR-test-price-expensive
Thought the assessment around peoples risk tolerance to which covid test to use interesting. Seems like they've set the covid test revenue at a level that the size of the business can cope with and based on risk levels. Can't argue with that. With the level of detail available id say there gearing up to supply the new tests through boots/lloyds and making sure the launch doesn't fail. Hopefully the share price reacts to mhcs ambition! GLA
And if these companies can make a success of these dna tests why not mhc in the UK? Well hopefully they can! GLA
https://www.fiercehealthcare.com/tech/everlywell-acquires-pwnhealth-home-access-health-to-expand-at-home-lab-testing-services
https://www.siliconrepublic.com/start-ups/letsgetchecked-1bn-funding
I think you've got to take account what info has just been released from a company that is not prone to over confidence or bs. It looks to me that promoting the fit 2 fly with retailers was the correct strategy. We'll see what happens with the release of the next 5 products. But it seems to me if they can be sold these peeps will do it.
Agree its likely that Wales will align with the rest of the uk. Looking at a few articles that cover the post travel pcr removal they talk about aligning with Europe rather than the ROW. Do European nations require pcr tests for their travellers returning from outside Europe? Maybe pcr scrapping will be for travel in Europe only, maybe wishful thinking. Bring on the new products!
Looks like mhc website has been updated to include thier validity for day 2 and 8 pcr tests from the 21/9 for travellers from wales. Weird that the Welsh gov announced this last weekend if these pcr tests are to replaced
https://www.bbc.com/news/uk-wales-58532433
It seems the boots negativity is around the recova-19 portal that manages the return to UK tests. Not quite sure how it works with mhc but I believe both sbi and mhc supply into this somehow so hopefully not mhc process related
I agree dactions, it would be nice to know the next level of detail other than covid. It does seem peculiar that they bought the genome store and the only test they have marketed belongs to ygen and have yet to release any genome products, what did they buy.....? However the revenue looks like its coming in now which given where the company was is remarkable. If they get the dna tests in boots/lloyds then all will make sense. I also think the mylotus tech might re-emerge at some point if the supply chain is fixed and the tech was as good as promoted. I recall the lh quantative data matched the siemens lab equipment, but who knows how accurate that info was. Seems like their recent job ads quoted concepta in the description and Google quotes concepta diagnostics as a lab equipment supplier, so who knows concepta diagnostics might rise from the ashes -
Google probably just hasn't been updated though! GLA
I'm hoping the delays are more to do with getting them into boots/ lloyds as that is where the sucess of these tests will likely come from. Might just be wishful thinking though! Hopefully end of month update will let us know.
Travellers will still need fit 2 fly pcr tests to enter most countries usa, China, India etc so its likely this side of pcr will continue until the international community say otherwise. Mhc seem set up to target this via boots and Lloyds so would have thought this part of their pcr revenue won't disappear immediately.
Was it expert medical?
https://www.thetelegraphandargus.co.uk/news/19559145.bradford-firm-investigation-pcr-test-complaints/
If it is trust pilot might back it up
https://www.trustpilot.com/review/www.expert-medicals.co.uk
Quite a few website hits circa 700k
https://www.similarweb.com/website/expert-medicals.co.uk/
Did it grow too fast?
Interesting to see an incremental update to the website to include references to the accreditation and lloyds tie up. Also the new product info seems to have been updated, or I've missed it previously, which gives a clue how they are going to tempt the public to buy them
https://myhealthchecked.com/at-home-dna-testing
Definitely going to be interesting when these 5 new products land.
It's always interesting to compare against potential competitors as to what value the company could be in the years to come to see if its worth investing. I posted the letsgetchecked valuation a while back but another one is everlywell who supply the at home covid test (and a few others) that walgreens sell in the US . Albeit they're US valuations and mhc is at the start of its journey it just looks like mhc is in a good place to increase its value.
https://www.fiercehealthcare.com/tech/everlywell-acquires-pwnhealth-home-access-health-to-expand-at-home-lab-testing-services
Who knows what the covid sales will be at the next update but if mhc with Boots can navigate the f2f customer satisfaction then you hope boots might take on a couple of the pending mhc dna tests to sell and if they do it will be some achievement by the dozen or so mhc employees. As to timing, your guess is a good as mine!
Should have also added well done to mhc for getting their proper reviews on Trust pilot and getting high up the covid testing network website. It's got to help with the mhc brand and the post covid world
https://www.covid19-testing.org/providers?type=fit_to_fly&facility=Home%20Test&sort=best_match&from_questions=1
Interesting trust pilot review for mhc from karen 30 mins ago. Maybe this is where all boots stock is going?
https://www.trustpilot.com/review/myhealthchecked.com