Relay Medical and Fio Partner with LifeLabs,
Canadian Healthcare Leader, to Deploy Fionet Platform for COVID-19
Testing Nationwide
Toronto, CANADA -- April 20, 2021 --
InvestorsHub NewsWire -- Relay Medical Corp.
("Relay" or the "Company")
(CSE: RELA, OTC: RYMDF, Frankfurt: EIY2) and Fio
Corporation ("Fio") together through their joint
venture company, Fionet Rapid Response Group
("FRR"), announce the execution of an agreement
with LifeLabs LP ("LifeLabs") to deploy the Fionet
Platform for COVID-19 rapid testing and real-time tracking across
Canada.
LifeLabs is Canada's largest provider of
specialty laboratory testing services, laboratory diagnostic
information and digital health connectivity systems, enabling
patients and healthcare practitioners to diagnose, treat, monitor,
and prevent disease. The company supports 20 million patient visits
annually and conducts over 100 million laboratory tests through
leading edge technologies and its 6,000 employees.
"COVID-19's threat to personal and economic
well-being across the country created a need for innovation in
technology and service. Through this alliance, LifeLabs and FRR are
bringing into any community setting the caliber of automated,
quality-controlled testing and tracking that previously was
available only in centralized lab facilities. FRR expects the
Fionet Platform to deliver hundreds of thousands of tests per month
through this agreement," said Dr. Michael Greenberg, CEO of FRR and
of Fio Corporation.
"We look forward to partnering with Fionet Rapid
Response Group during this critical time in the pandemic. While we
see the ongoing deployment of vaccines, the demand for COVID-19
testing remains high. This partnership serves as another big step
in our combined efforts to provide safe, accessible, and quality
testing for Canadians as we look to re-start our economy as part of
our WorkClear program," said Charles Brown, President and CEO of
LifeLabs.
The Fionet Platform enables fast, scalable,
quality-controlled testing and real-time automatic digital results
for electronic reporting. Each Fionet device processes
approximately 60 tests per hour at the point of need. FRR's
business model is a fee for each test processed through its
platform.
Under the terms of the agreement, LifeLabs will
provide the Fionet Platform in community-based settings at multiple
sites across Canada, including airports, pop-up labs, and
installations for small businesses. The Fionet Platform is
integrated into LifeLabs' laboratory information system, ensuring
seamless interoperation, as well as into LifeLabs' turnkey,
end-to-end COVID-19 rapid diagnostic testing (RDT) program to
support Canadians as they return to work.
Yoav Raiter, the CEO of Relay Medical shares,
"With this engagement, we are privileged to make available the
Fionet Platform nationwide to bring Canadians a testing solution to
give the country the confidence and support to begin a safe return
to daily life. We've made rapid testing accessible for travelers,
consumers, and employees across Canada and we look forward to doing
the same for other countries and communities around the world as
the Fionet Platform is ready to be widely deployed. This is a proud
moment for Relay as we provide the new standard for rapid COVID
screening."
About LifeLabs
LifeLabs is Canada's leading provider of
laboratory diagnostic information and digital health connectivity
systems, enabling customers and health care practitioners to
diagnose, treat, monitor, and prevent disease. We support 20
million visits annually and conduct over 100 million laboratory
tests through leading-edge technologies and our 6,000 talented and
dedicated employees. We are a committed innovator in supporting
Canadians to live healthier lives, operating Canada's first
commercial genetics lab and the country's largest online portal,
with more than 5 million Canadians receiving their results online.
LifeLabs is 100% Canadian owned by OMERS Infrastructure, the
infrastructure investment manager of one of Canada's largest
defined benefit pension plans.
Website: www.lifelabs.com
About Fionet
The Fionet Platform is an end-to-end, rapid
testing and tracking solution for community-based or decentralized
settings. Combining a fast, handheld point-of-need device connected
in real time to cloud data services, the Fionet Platform handles
scheduling and registration via phone app at home, on-site
check-in, rapid, on-the-spot antigen testing, data integration with
other testing devices, result notification, public health
notification as appropriate, and anonymized data and stats for
dashboards for authorized stakeholders.
Website: www.fionetrapidresponse.com
About Relay Medical Corp.
Relay Medical is a technology innovation company
headquartered in Toronto, Ontario, with a team of Canadian experts
focused on the development of novel technologies in the
diagnostics, AI data science sectors, and IoT cybersecurity
sectors.
Website: www.relaymedical.com
About Fio Corporation
Fio Corporation, privately held and
headquartered in Toronto, developed and markets the world's first
integrated guidance & tracking IT platform for decentralized
healthcare settings, a new category of solution that raises
healthcare quality and lowers healthcare costs. The platform
enables average healthcare workers in clinics to deliver a new
level of quality-controlled diagnostic testing and case
management.
Website: www.fionetrapidresponse.com
For Media Inquiries, please
contact: Destine Lee media@relaymedical.com | 647-872-9982
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please visit: https://www.relaymedical.com/news
Contact:
W. Clark Kent
President
Relay Medical Corp.
Office. 647-872-9982 ext. 2
TF. 1-844-247-6633 ext. 2
investor.relations@relaymedical.com
Bernhard Langer
EU Investor Relations
Office. +49 (0) 177 774 2314
Email: blanger@relaymedical.com
Forward-looking Information Cautionary
Statement
Except for statements of historic fact, this
news release contains certain "forward-looking information" within
the meaning of applicable securities law. Forward-looking
information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are
based on the opinions and estimates at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking statements
including, but not limited to delays or uncertainties with
regulatory approvals, including that of the CSE. There are
uncertainties inherent in forward-looking information, including
factors beyond the Company's control. There are no assurances that
the commercialization plans for the technology described in this
news release will come into effect on the terms or time frame
described herein. The Company undertakes no obligation to update
forward-looking information if circumstances or management's
estimates or opinions should change except as required by law. The
reader is cautioned not to place undue reliance on forward-looking
statements. Additional information identifying risks and
uncertainties that could affect financial results is contained in
the Company's filings with Canadian securities regulators, for
which filings are available at www.sedar.com.
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