- Relay Medical Corp. (CSE:RELA) has announced that it and Fio Corporation through their joint venture, Fionet Rapid Response Group (FRR), have entered into an agreement to facilitate at-home COVID-19 testing in the US
- The companies will develop and market FRR’s smartphone-based AI-powered real-time testing platform for the at-home and at-business consumer market
- Fionet’s partner is the longest-running nationwide at-home screening service in the US
- Shares of Relay Medical remain unchanged at C$0.23 at market close
Relay Medical (RELA) and Fio Corporation have announced an agreement to bring a secure technology platform for at-home testing to the US market.
According to the announcement, FRR will develop and deploy the first nationwide at-home testing platform for infectious diseases and overall health monitoring.
The platform includes over 50 US Food and Drug Administration (FDA)-approved at-home tests, which range from COVID-19 and diabetes to some types of cancer.
Both Relay Medical and Fio Corporation will develop and market FRR’s smartphone-based and AI-powered real-time diagnostic testing platform for both at-home services and the business consumer market.
The platform is an extension of Relay Medical’s Fionet technology, which is currently in use for COVID-19, malaria and other infectious diseases.
The Fionet platform is an end-to-end testing and tracking device geared towards shaping the evolution of the at-home testing market. Fionet provides results in real-time for electronic reporting.
At-home testing has become a growth opportunity for FRR because Fionet’s platform includes a robust and intuitive cloud-based application with data aggregation capabilities,” Yoav Raiter, CEO of Relay Medical, said in a release.
“With the recent pandemic and the skyrocketing cost of medical care, interest has never been greater.”
As a result of COVID-19, the shift to preventative care and home testing has accelerated.
Shares of Relay Medical remain unchanged at C$0.23 at market close.