Biolidics receives MOH nod to conduct Covid-19 PCR tests

CATALIST-LISTED medtech firm Biolidics announced on Wednesday (Dec 29) that its wholly-owned subsidiary, Biomedics Laboratory, has been granted approval by the Ministry of Health to provide medical microbiology services, including Covid-19 polymerase chain reaction (PCR) tests.

Subject to the company being able to secure sales for its testing services, Biolidics expects the MOH approval to contribute positively to the revenue of the group amid the Covid-19 pandemic for the financial year ending Dec 31, 2022.

Still, the company noted that as the Covid-19 situation evolves and different products and services are developed and launched, it is unable to quantify the financial impact of the approval received as it cannot determine the sales uptake of the testing services.

This comes after the company's announcement on Dec 8 that it expected to start producing its new Covid-19 rapid test kit commercially by the end of this year.

Biolidics shares closed up 3.5 per cent or S$0.006 to close at S$0.179 on Wednesday, before the announcement was made.