- G Medical Innovations Holdings Ltd's (NASDAQ:GMVD) subsidiary, G Medical Tests and Services Inc, expanded its COVID-19 testing services to more than 150+ additional locations across California.
- The new testing sites include theme parks, schools, commercial properties, office complexes, public buildings, and mobile facilities.
- G Medical acquired the business conducting testing at the locations for a total of $5.2 million in cash, to be paid out in milestones.
- The new sites will enable the processing of more than 200,000 COVID-19 PCR and rapid antigen/flu tests, with anticipated revenues of $20 million.
- The company also reports it has repaid $2.5 million in cash on a $5 million convertible loan issued by Lind Partners.
- The need for convenient COVID-19 PCR, Rapid Antigen/Flu testing, personal healthcare monitoring continues along with the company's Prizma Care remote patient monitoring directly to consumers.
- Price Action: GMVD shares are up 7.64% at $2.96 during the market session on the last check Tuesday.
