Friday, July 07, 2023
Intelligent Bio Solutions Inc. (Nasdaq: INBS) announced a significant development in its operations in South America. The medical technology company, known for its intelligent, rapid, and non-invasive testing solutions, has signed a distribution agreement with TSCOM SPA, a Chile-based company. This agreement will facilitate the availability of Intelligent Bio Solutions' groundbreaking Intelligent Fingerprinting Drug Screening System across South America. Alongside the distribution agreement, the company has also secured its first order from a Chile-based electrical distribution company.
The Intelligent Fingerprinting Drug Screening System is globally recognized as the world's first fingerprint-based drug testing system. It utilizes fingerprint sweat analysis to detect recent drug use, including substances such as cannabis, cocaine, opiates, and methamphetamine. This innovative solution offers a quick, easy, and non-invasive alternative to traditional point-of-care drug testing methods like urine and saliva tests. The portability of the system enables convenient testing in various settings, empowering workplace managers to conduct non-intrusive screenings anytime and almost anywhere. Furthermore, the system serves as a deterrent, encouraging adherence to Health & Safety policies among employees.
TSCOM SPA, the distribution partner, is eager to introduce the Intelligent Fingerprinting drug screening system to the South American market. Their initial focus will be on workplaces, government operations, and healthcare providers in Chile. Recognizing the rising popularity of fingerprint-based drug screening, TSCOM SPA believes that the Intelligent Fingerprinting solution offers a compelling alternative to traditional testing methods.
As part of the distribution agreement, TSCOM SPA will provide comprehensive local services, including initial training, ongoing technical support, and the supply of drug screening cartridges. The company has already received significant interest from local entities and has secured its first order from a Chile-based electrical distribution company. The customer was quick to recognize the advantages of the fingerprint-based system, appreciating its ease of use, portability, non-invasiveness, and improved hygiene compared to conventional alternatives. TSCOM SPA is actively assisting the customer in implementing fingerprint testing in their workplace by providing training and support.
Harry Simeonidis, President and CEO of Intelligent Bio Solutions, expressed excitement about the growing recognition of fingerprint drug testing as a superior option for workplace screening. Since the acquisition of Intelligent Fingerprinting in the third quarter of 2022, the company has been focused on expanding the global reach of this innovative testing solution. Simeonidis is thrilled to extend their market presence into South America through the partnership with TSCOM SPA and commends their swift action in securing the first customer for the solution.
The Intelligent Fingerprinting Drug Screening System consists of a small, tamper-evident drug screening cartridge that allows for the collection of ten fingerprint sweat samples in under a minute. The portable analysis unit provides on-screen results in less than ten minutes, enabling a fast and efficient testing process.
