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Be the first with the news that moves the market- Global Care Capital’s (HLTH) portfolio company, High Standard Health Care, has become an approved vendor for a long-term care facility
- The company has signed an Approved Vendor Contract for Nevada’s Alta Skilled Nursing and Rehab Centre
- Under the contract, High Standard Health Care will procure and provide personal protective equipment (PPE) to the care facility
- High Standard Health Care specialises in procuring PPE, including respiratory masks, hand sanitiser, gowns, thermometers, and face shields
- Global Care Capital (HLTH) is down 11.11 per cent and is currently trading at C$0.12 per share
Global Care Capital’s (HLTH) portfolio company, High Standard Health Care, has become an approved vendor for a long-term care facility.
The company has entered into an Approved Vendor Contract for the Nevada-based Alta Skilled Nursing and Rehab Centre. Under the contract, Alta will engage High Standard Health Care as a future provider of personal protective equipment (PPE).
Alta will contact the company to discuss its PPE needs, specifications, quantities, delivery dates, and pricing. Once the purchase order is received in good order, High Standard Health Care will provide Alta with a payment invoice.
High Standard Health Care specialises in procuring PPE, including respiratory masks, hand sanitiser, gowns, infrared thermometers, and face shields. The company has previously fulfilled purchase orders to hospitals, municipalities, long-term care facilities, and fire and police departments.
Such purchase orders have risen sharply in demand as a result of the ongoing COVID-19 pandemic. PPE has been particularly necessary in long-term care facilities, where many people are older and more vulnerable to COVID-19.
In addition to the vendor contract, High Standard Health Care will have the right of first offer for agreed-upon PPE bought by Alta.
Global Care’s CEO, Alex Somjen, commented on the new opportunity seized by the portfolio company.
“High Standard Health Care continues to demonstrate its ability to build on and create long-lasting mutually beneficial relationships with hospitals, long-term care facilities and cities in need of PPE.
“We are looking forward to seeing how the relationship with Alta progresses,” he said.
Global Care Capital (HLTH) is down 11.11 per cent and is trading at C$0.12 per share at 11:46am EDT.
