Co-Diagnostics' COVID-19 test to be distributed in Ecuador

Co-Diagnostics Inc’s (NASDAQ:CODX) COVID-19 test will be exclusively distributed in Ecuador by PreCheck Health Services Inc (OTCMKTS:HLTY).  In a statement Friday, PreCheck said it has ordered an initial 30,000 COVID-19 tests and will be registering the product in Ecuador, which has a population of 16 million. The company’s Latin American division will handle distribution.  “It’s been a productive month for PreCheck,” said PreCheck CEO Justin Anderson, noting that his Texas company had also entered into an exclusive agreement with Co-Diagnostics to distribute its COVID-19 tests as well as other infectious disease kits in Russia.  READ: Co-Diagnostics chief scientific officer to address Bipartisan Commission on Biodefense in Washington “We are pleased to announce today that we have expanded our relationship with a distribution agreement for Ecuador,” he said. “The decision for PreCheck to distribute for Co-Diagnostics and specifically their Logix Smart Coronavirus COVID-19 Test is due to the test’s excellent characteristics in terms of sensitivity and specificity, the two benchmarks for accuracy in PCR tests. In today’s global crisis where governments, professional sports, college sports and public schools are being closed or suspended on the basis of a single test, we felt that high accuracy was critical for our comfort level, resulting in our decision to choose Co-Diagnostics.” Co-Diagnostics CEO Dwight Egan commented: “We are pleased to enter into these agreements with PreCheck. They are part of a strong demand we are experiencing for our Covid-19 tests. The agreements also highlight Co-Diagnostics’ commitment to supporting the global response to coronavirus. As such, we are delighted to have PreCheck as a customer, focused on distributing these products in Russia and Ecuador.” Salt Lake City, Utah-based Co-Diagnostics is the first US company to receive a CE-mark from the EU for its proprietary COVID-19 diagnostic test. It is currently shipping orders for its test kits to 10-to-12 countries across five continents, including America, Europe, Asia and Australia.  It has also had inquiries from nearly 50 countries. The firm’s Logix Smart COVID-19 screening test kits are also making their way to Italy, the most severely impacted country in the EU. Co-Diagnostics’ stock recently rose 5% higher to $12.37 a share in pre-market trading in New York. Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham