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TORONTO, Sept. 11, 2020 (GLOBE NEWSWIRE) — QuestCap Inc. (“QuestCap”) (CSE:QSC; FRA:34C1) is pleased to announce that Sanaty IPS S.A.S. (“Sanaty”) has initiated its comprehensive COVID-19 testing program with the sale of both PCR and antibody test kits through its inaugural clinic. QuestCap owns a 28% indirect interest in Sanaty, a full service medical clinic in Colombia.Sanaty offers patients both rapid IgG/IgM antibody tests (results in 8-10 minutes) and PCR tests (results in 15 minutes). Necessary regulatory approvals for the test have been obtained. Patients can subscribe to a subscription plan and obtain access to an initial COVID-19 PCR test followed by bi-weekly COVID-19 IgG/IgM antibody tests for three, six, or twelve month periods.These programs are designed to maximize testing accuracy and efficiency for patients while reducing costs and maximizing the number of Colombians who can access testing. This unique program represents the launch of Sanaty’s COVID-19 testing efforts through direct sales to the public using Sanaty’s medical consultation and diagnostic services.With a population of 49 million inhabitants, Colombia generates meaningful demand for COVID-19 test kits even before considering the high rate of infection in the country. According to the World Health Organization, as of September 10th, 2020 there were 686,851 cases of COVID-19 infection reported in Colombia, along with 22,053 deaths and 552,885 people had recovered, demonstrating a clear need for increased testing in the country.Sanaty’s inaugural clinic is located in Cucuta, Santander, Colombia. The company plans to launch four additional clinics by 2021 allowing for an aggregate maximum daily testing capacity of 1,500 PCR tests and 6,000 antibody tests. With the current number of antigen tests exceeding 650,000 per month in Colombia according to the National Institute of Health, there is already a sizeable market in the country.Sanaty will focus on both wholesale institutional channels and the IPS retail laboratory channels to generate sales. Sanaty is targeting 2.6 million antibody tests and 124,000 antigen test per year once the network is fully established.“As a company focused on COVID-19 testing, we feel it is important to support testing efforts in countries that are still trying to flatten the curve. With Colombia ranked as number three in fatalities worldwide by the World Health Organization, it is clear our resources can make a difference. Our efforts in this country will both help the people of Colombia, while also benefiting QuestCap shareholders,” commented Doug Sommerville, QuestCap CEO.QuestCap is not making any express or implied claims that its product or the tests have the ability to eliminate, cure or contain COVID-19 (or SARS-2 Coronavirus) at this time.About Sanaty IPS
Sanaty IPS has been designated as an “Institucion Prestadors de Servicios de Salud” (IPS) (a health providing institution) by the Colombian Ministry of Health allowing the company to provide medical consultation and diagnostic services in Colombia. Sanaty’s comprehensive medical team can provide a full-service experience to patients. Sanaty is authorized by the Ministry of Health to provide its services via telemedicine, allowing for long-distance patient and clinician contact, care, advice, reminders, education, intervention, monitoring and remote admissions. QuestCap owns a 28% indirect equity interest in Sanaty IPS.About QuestCap Inc.
QuestCap Inc. (CSE:QSC; FRA:34C1) is a social-impact investment company. Through QuestCap’s three divisions, MedQuest, TechQuest and ClimateQuest, it seeks, secures and funds recognised sciences, technologies, and solutions that impact our global community today.The QuestCap executive team is complemented by a panel of global advisors that provide expertise across industries and geographies. This panel includes prominent Stanford University immunologist Dr. Lawrence Steinman and Dr. Glenn Copeland, who has 45 years of experience in orthopaedic treatment, foot and ankle care, and sports medicine.QuestCap provides financing for a diverse range of entities in exchange for pre-determined royalties or distributions, or acquires all or part of one or more businesses, portfolios or other assets.For additional information, please contact:Doug Sommerville, CEO
Doug.Sommerville@questcapinc.comFor investing enquires please contact:Evan Veryard
evan.veryard@questcapinc.comFor media enquires please contact:
Veronica Welch
veronica@vewprmedia.com
+1-508-643-8000Cautionary Note Regarding Forward-looking InformationThis press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the sale of antibody test kits; the launch of Sanaty’s testing program; the plans for Sanaty to open up additional clinics and achieve testing capacity; the ability to increase testing capacity in Colombia; the pursuit by QuestCap of investment opportunities; and the merits or potential returns of any such investments. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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