From GlobeNewswire: 2024-11-29 07:30:00

Avricore Health Inc. reports rising revenues and profitability in Q3 of 2024, with revenue up 58% to $3,364,635 and gross profit up 84% to $1,290,357. The company recorded a net profit of $43,494 and a net increase in cash of $503,994 in the same period.

CEO Hector Bremner highlights the growth opportunities for HealthTab in the UK, citing significant opportunities for expansion in 2025 and beyond. The UK government’s investment in pharmacy-led services, including a £645 million commitment to the Pharmacy First program, aligns with Avricore’s growth strategy.

Pharmacy-based screening programs in the UK have shown strong patient uptake, with community pharmacies conducting almost 250,000 blood-pressure screenings per month. The NHS’s emphasis on increasing access to primary care services and addressing chronic diseases like heart disease and diabetes underscores the importance of these initiatives.

With the NHS facing challenges due to a shortage of family doctors, Avricore plans to redeploy HealthTab devices to new locations in Canada and the UK. The company expects its existing cash reserves and future cash inflows to be sufficient to finance working capital for the next 12 to 18 months.

Looking ahead, Avricore’s growth strategy includes operational expansion in high-priority regions and national scaling through partnerships with the NHS. Marketing and awareness campaigns will focus on educating the public about cardiovascular disease and the role of HealthTab in preventive care.

HealthTab™ is a turnkey point-of-care testing solution that provides lab-accurate results in real-time. The platform offers testing for up to 23 key biomarkers related to chronic diseases like diabetes and heart disease. Avricore Health Inc. aims to make actionable health information more accessible through its innovative pharmacy services.

The global Point of Care Testing Market is projected to reach $93.21 billion USD by 2030. With millions of individuals at risk for diabetes and heart disease, there is a growing need for accessible healthcare services like HealthTab™. Avricore’s focus on advancing pharmacy practice and patient care aligns with these trends.



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