Tecsys Inc- President and CEO, Peter Brereton
President and CEO, Peter Brereton
Source: Supply Chain Times
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Logistics provider, Tecsys Inc (TSX: TCS) is seeing its supply chain software implemented by healthcare services affected by COVID-19
  • Many hospitals and healthcare workers are currently facing supply-chain issues during the pandemic
  • Previously, in 2009 the software was useful in organising 125 million H1N1 vaccines in North America
  • While the company remains fully operational, Tecsys is expecting a slowdown in the near future due to the pandemic
  • Tecsys Inc (TCS) is up 6.44 per cent, with shares trading at C$15.38 and a market cap of $201.22 million

Logistics services provider, Tecsys Inc (TSX: TCS) is seeing its supply chain software utilsed by coronavirus-affected healthcare services.

Tecsys integrates various levels of distribution and develops software to assist and monitor supply chain needs.

The company has previously been used widely in a healthcare setting. These same systems are now being used across North American healthcare services impacted by the ongoing coronavirus pandemic.

Many hospitals and healthcare workers are currently facing supply-chain issues. For example, many hospitals in the US are unable to source important transmission mitigating equipment, such facemasks.

Tecsys software was previously been used to organise vaccines and mitigate the outbreak of H1N1 in 2009. During that year, the software was useful in organising 125 million H1N1 vaccines in North America.

However, it is worth noting that Tecsys’s software will not remedy demand issues, only streamline the ordering and delivering process.

Tecsys was also quick to point out that its cybersecurity and infrastructure support are essential to a number of ongoing operations. With that in mind, Tecsys stated that maintaining operations uninterrupted is the company’s top priority.

Peter Brereton, President and CEO of Tecsys, believes investors and customers should feel confident about the company’s prospects.

“We have shifted to a work-from-home world without missing a beat. While we anticipate a probable slowdown in professional services at some point, we are not seeing that yet.

“We are also seeing new projects entering the backlog which are being created and driven by the pandemic,” he said.

Tecsys did not elaborate on what projects were being generated by the COVID-19 crisis.

Due to the satellite-nature of their systems management work, the company does not expect to be widely-affected by self-isolation measures or government mandated lockdowns.

Tecsys Inc (TCS) is up 6.44 per cent, with shares trading for C$15.38 at 12:21pm EST.

More From The Market Herald
Xtract One Technologies Inc. - CEO, Peter Evans.

" Xtract One (TSX:XTRA) installing SmartGateway in Hyundai plant

Xtract One Technologies Inc. (XTRA) announced its SmartGateway security screening system was selected to be installed at entrances in the Hyundai Transys plant in Georgia.

" KWESST (TSXV:KWE) closes US$14.1 million public offerings

KWESST Micro Systems (KWE) has closed its underwritten U.S. and Canadian offerings.

" Kontrol Technologies (NEO:KNR) subsidiary CEM Specialties wins new order from global cement company

Kontrol Technologies’ (KNR) operating subsidiary, CEM Specialties, has received a new Emission Analyzer order from a global cement company.

" Hopefield Ventures (TSXV:HVI.P) signs RTO deal

Capital pool company, Hopefield Ventures (HVI.P), signed a $250,000 amalgamation agreement with CyberCatch Holdings, Inc. and its subsidiary, 1390090 B.C. Ltd.