Philosys Healthcare Completes First Delivery of Specimen Collection Kits to the US and UAE

[Asia Economy Reporter Jang Hyowon] Philosis Healthcare (CEO Choi Inhwan) announced on the 17th that it has completed the first delivery of specimen collection kits contracted for the United States and UAE on the 26th of last month.

Philosis Healthcare signed an export contract worth a total of 48 million USD (approximately 52.9 billion KRW) for specimen collection kits to the United States and UAE through H&Dream and CareCamp on the 26th of last month. The first delivery conducted this time amounts to about 2.4 million USD (approximately 2.7 billion KRW). The company plans to complete the supply of the quantity by the end of August, starting with this first delivery.

Specimen collection kits, along with diagnostic kits, are essential diagnostic products rapidly gaining recognition in the global market. Philosis Healthcare has obtained approval from the U.S. Food and Drug Administration (FDA) for its own specimen collection kits and has applied for a domestic patent by improving the materials and structure to absorb viruses well and easily release the absorbed viruses in a special solution.

Since March of last year, Philosis Healthcare has been steadily signing supply contracts for diagnostic kits and specimen collection kits with various countries and continuously exporting. In addition to the specimen collection kits delivered this time, the company has completed exporting approximately 1.1 million USD (about 1.2 billion KRW) worth of rapid diagnostic kits ‘Gmate COVID-19 Ag’ to Malaysia and is preparing for additional deliveries.

Based on this, performance has also improved. Philosis Healthcare achieved sales of 22.6 billion KRW on a separate basis last year, an increase of 176% compared to the previous year, and also succeeded in turning a profit by achieving an operating profit of 2.5 billion KRW.

A representative of Philosis Healthcare said, “We expect significant sales and operating profits related to COVID-19 this year as well,” adding, “Since new businesses are continuously expanding, the company’s sustainable growth will continue even after the COVID-19 pandemic ends.”