REG - MyHealthChecked PLC - Trading update

MyhealthcheckedAnnouncement

08/08/2023 07:00

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RNS Number : 5512I  MyHealthChecked PLC  08 August 2023

MyHealthChecked PLC

("MyHealthChecked" or "the Company")

 

Trading update

 

MyHealthChecked PLC (AIM: MHC), the consumer home-testing healthcare company,
provides an update on trading for the six months ended 30 June 2023.

 

H1 Trading

Trading in the first half of the year reflected the expected overall reduction
in demand for COVID tests, with (unaudited) revenues of £2.5m (H1 2022:
£9.8m), driven as expected mainly by sales of COVID-19 lateral flow test kits
for at-home use via high street pharmacy retailers in the UK. Whilst there has
been a recent marked increase in COVID testing volumes during the second half
of July 2023, and reports of the 'Eris' strain alongside discussion of
COVID-19 cases potentially rising during Autumn and Winter, it remains the
Company's expectation that there will be a reduction in overall demand for
COVID tests during 2023 compared to the prior year.

 

Cash balances as at 30 June 2023 remain healthy at £5.0m (FY 2022: £7.6m)
and reflect the Company's continued investment across the business for future
growth.

 

Boots retail launch of extended at-home self-testing product portfolio

As announced in May
(https://investors.myhealthchecked.com/corporate-news/archive/2023/180523)
2023, the Company has partnered with Boots UK Limited ("Boots"), the health
and beauty retailer and pharmacy group, to launch its extended range of
at-home self-testing products, via boots.com and across Boots stores in Great
Britain and Northern Ireland. This range comprises 14 MyHealthChecked test
panels, comprising two blood and urine sample kits, seven blood prick sample
kits and five DNA cheek swab kits, plus a further six MyHealthChecked lateral
flow tests which are now also available.

 

The Directors believe that this agreement demonstrates that the Company has
firmly established itself as a trusted partner in the wellness industry, with
a strong record of reliability and delivery for customers and retail partners.

 

The launch of the range is still in its infancy and with any brand-new
category line, it will take time and support to increase public awareness of
the benefits of at-home testing and the ready availability of the products and
service. This is a very dynamic market and MyHealthChecked is working closely
with the Boots team to support promotional activities, working to align with
their strategic goals. As well as supporting planned product promotions
undertaken with Boots directly, MyHealthChecked has been targeting a number of
marketing channels to assess the most effective means of increasing awareness.
These efforts have included paid for social media advertising as well as
positive editorial articles in a number of national and independent media
publications.

 

Unaudited half-year results will be published on Tuesday, 19 September 2023.

 

Penny McCormick, Chief Executive Officer of MyHealthChecked PLC,
said: "Despite the inevitable and anticipated fall in demand for COVID-19
testing, MyHealthChecked remains well-positioned to deliver its plan in 2023
given the distribution relationship we have established with Boots and their
nationwide launch of our expanded portfolio of at-home wellness tests. It is
always challenging to pioneer a major new category of products in the wellness
testing market, however our long-term outlook remains positive as we continue
to support our retail partner in their commercial strategy to meet customers'
needs for at-home testing."

 

For further information contact:

 

 MyHealthChecked PLC                                                www.myhealthchecked.com (http://www.myhealthchecked.com)
 Penny McCormick, Chief Executive Officer                           via Walbrook PR

 SPARK Advisory Partners Limited (NOMAD)                            Tel: +44 (0)20 3368 3550
 Neil Baldwin / Jade Bayat

 Dowgate Capital Limited (Broker)                                   Tel: +44 (0)20 3903 7715
 David Poutney / Nicholas Chambers

 Walbrook PR Ltd (Media & IR)      Tel: +44 (0)20 7933 8780 or myhealthcheckedplc@walbrookpr.com
                                   (mailto:myhealthcheckedplc@walbrookpr.com)
 Paul McManus / Alice Woodings                                      Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654

 

About MyHealthChecked PLC (https://investors.myhealthchecked.com/
(https://investors.myhealthchecked.com/) )

 

MyHealthChecked PLC, based in Cardiff, is an AIM-quoted pioneering UK
healthcare company focused on a range of at-home healthcare and wellness
tests.

 

MyHealthChecked (http://www.myhealthchecked.com) is the umbrella brand of a
range of at-home rapid tests, as well as DNA, RNA and blood sample collection
kits which have been created to support customers on their journeys to
wellness. The tests are lateral-flow self-tests, whilst the sample collection
kits enable the collection of blood, urine, nasal or mouth swab samples that
are analysed in partner laboratories for a range of biomarkers. The tests will
also be made available online and will be viable for over-the-counter
purchase.

 

The MyHealthChecked portfolio has been identified as part of a change in
mindset as customers become more familiar with the concept of accessible
healthcare in the growing at home testing kit market with a focus on
accessibility at the right price, led by UK-based experts.

 

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