COVID will mean more testing for longer: Sonic chief

COVID-19 testing will keep boosting revenues even as the pandemic wanes, says pathology, radiology and laboratory group Sonic Healthcare, estimating it will level out at between 10 per cent and 20 per cent of peak testing levels in coming years.

“In time, COVID is just going to be another respiratory virus we test for ... in general, I think there will more PCR testing and respiratory testing than we’ve ever had before ... and that will give us a benefit over pre-pandemic levels,” he said.Dr Goldschmidt said the world was not yet at the stage of levelling out. National contracts for testing in nursing homes was one area he cited as likely to continue.A, and in the year it had invested $628 million in acquisitions and joint ventures.

The group organically increased base business revenues last month by 3.9 per cent on 2021, compared to 11 per cent organic base business revenue growth from July 2019 before the pandemic struck. About $94 million of COVID-19 revenue was booked in July. Sonic is also broadening its product range through genetic testing and, in the US, testing for thyroid cancers. It is also one of five labs in the US appointed for monkeypox testing, though volumes remain low.Harrison.ai in its $129 million fundraising.

Source: News Formal (newsformal.com)

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