Safe Supply Streaming (CSE:SPLY) is leading the charge in AI-powered healthcare and medical technology innovation, making strategic investments in cutting-edge technologies and companies that enhance patient care, streamline medical processes, and address critical healthcare challenges with advanced solutions.
Since going public last fall, Safe Supply has been committed to transforming healthcare through innovative medical technologies and AI-powered solutions focusing on improving patient outcomes, enhancing medical technology, and ensuring safer, more efficient healthcare practices.
Under its portfolio is its key asset, Safety Strip Tech, which is focused on developing and distributing test strips to detect toxic substances in various environments. To do so, it uses artificial intelligence (AI) to help Safety Strips provide reliable, easy-to-use testing solutions aimed at reducing harm and improving public health.
Safe Supply enters landmark expansion agreement
As it continues along its path of making pivotal acquisitions and addressing the needs in the market, Safe Supply Streaming made its latest partnership in August by entering into a landmark expansion agreement with Greenlane Holdings (NDAQ:GNLN), a company that distributes vape, smoke and cannabis accessories.
Under the agreement, Greenlane will distribute Safe Supply’s Safety Strips’ harm reduction test strips for fentanyl, drink spike and xylazine to thousands of retailers across the United States.
“We are focused on immediate revenue, and having a sophisticated partner like Greenlane, with its large distribution network, is highly accretive to Safety Strips,” Geoff Benic, CEO of Safety Strips Tech, said in a statement. “Our portfolio of test strips for toxic substances is just the beginning – we will be announcing our wellness division shortly, further expanding our product offerings. The strategic partnership with Greenlane aligns perfectly with our vision of revolutionizing the medical testing industry and creating long-term value for our shareholders.”
As part of the transaction, Safety Strips will gain access to more than 11,000 retailers in the United States through Greenlane’s distributors as well as Greenlane’s retail network of more than 7,000 retail doors across the country.
In addition to fentanyl and xylazine detection, Safety Strips will also be able to expand the product portfolio of its Wellness Strips, which enable at-home testing for blood sugar levels, pH levels and other health indicators.
Safety Strips will also be able to leverage advanced AI-powered technology for real-time data analysis and personalized recommendations into the health and safety ecosystem.
“This is another significant step towards our full pivot out of the streaming model and towards our medical testing strategy powered by AI,” Bill Panagiotakopoulos, CEO of Safe Supply Streaming, said in a statement.
Perhaps the biggest takeaway from the partnership is the fact that Safety Strips’ detection products have the ability to address an urgent, unmet need in the opioid crisis by offering a reliable, low-cost solution to detect fentanyl and xylazine.
Case in point, according to the Centers for Disease Control and Prevention, roughly 81,083 overdose deaths in the United States involved opioids in 2023.
Safe Supply’s Spike drink gets commercial acceleration
In tandem with the landmark expansion agreement with Greenlane Holdings, Safe Supply announced the commercial acceleration of Safety Strips’ Drink Spike test strips in response to recent U.S. legislation.
The legislation, California Assembly Bill No. 1013, went into effect as of July 1, 2024, and will remain in place until Jan. 1, 2027.
It is expected that through the bill, roughly 2,400 establishments with a Type 48 license – which allows the sale of beer, wine, and distilled spirits – must now display signage informing patrons that drug testing kits are available.
As such, bars and nightclubs in California are now legally required to offer test kits for detecting date rape drugs. Safety Strips has a competitive advantage in ensuring these mandatory kits are readily available for businesses to comply with new regulations.
“We can no longer afford to ignore the devastating reality of toxic drugs and substances causing severe and irreversible harm to unsuspecting individuals. While changing consumer behaviour is ambitious, Safety Strips has been at the forefront of developing proprietary toxicity testing solutions to create a safer, risk-reduced world,” Benic said in a statement.
The investment corner
Safe Supply has had a surge in trading volume recently with more than 5 million shares traded compared with its average of 90,000.
As of the time of this writing, the company has a market capitalization of C$1.54 million and a share price of $0.02.
With Safe Supply continuing to accelerate its mission of putting an end to the war on drugs, the company’s value can only go up from here. And investors won’t want to miss out.
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