Mcdade Products, LLC and G Medical Tests Secure Additional Purchase Order for $6.5 Million

McDade Products, LLC and G Medical Tests and Services, a division of G Medical Innovations Holdings Ltd. announced an additional $6.5 million purchase order for two million COVID-19 PCR collection test kits. G Medical will be selling these units wholesale for $3.25 each, reflecting gross profit of approximately $3.5 million. Additionally, G Medical expects to be paid an average of $85.00 per test through each patient's insurance.

These orders seem to come at a pertinent moment with the Biden Administration recently requiring that private insurers pay for a minimum of eight COVID 19 test kits per person per month starting January 15, 2022.