- Compel Capital (SCRN) subsidiary ScreenPro reports significant milestones in its private sector screening for COVID-19
- The company’s Vancouver lab now has the capacity to process 70,000 tests per month
- The company’s Toronto lab now performs over 40,000 tests per month
- ScreenPro generates revenue of C$100 per test with an approximate gross margin of 20-30 per cent
- ScreenPro Security provides turnkey coronavirus screening solutions to the private sector
- ScreenPro (SCRN) is up 6.67 per cent and is currently trading at C$0.08 per share
Compel Capital (SCRN) subsidiary ScreenPro reports significant milestones in its private-sector screening for COVID-19.
In September 2020, ScreenPro started its first lab in Vancouver. One month later, it began to test for the coronavirus at a run rate of 2,500 tests per month. Today, the lab has the capacity to process 70,000 tests per month.
In January 2021, ScreenPro partnered with its second lab in the Greater Toronto Area to replicate operations in Vancouver.
Today, ScreenPro is capable of performing over 40,000 tests per month in the GTA.
The company successfully completed 10,500 tests from October to December, 2020, a total of 60,000 tests in January and February 2021, and is poised to administer 40,000 tests in March.
ScreenPro currently generates C$100 in revenue per test with an approximate gross margin of 20-30 per cent.
ScreenPro has also been successful in testing for the mutations and variants associated with COVID-19.
The company anticipates further growth through increased lab capacity and demand from various film and production companies.
ScreenPro Security provides turnkey coronavirus screening solutions to the private sector.
ScreenPro (SCRN) is up 6.67 per cent and is currently trading at C$0.08 per share as of 3:11 pm ET.
