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Cue Health Inc. (HLTH) Stock Plunged 17.89% Current-Market, Here’s Why        

Cue Health Inc. (HLTH) stock plummeted 17.89% in the current-market trading session at the price of $7.02 after it partnered with Albertsons to deliver Covid-19 tests across the U.S. 

HLTH is a healthcare firm that makes health care and diagnostic information accessible for individuals at the care center. The company facilitates people to supervise their health through actionable and real-time health information. It offers patients easy access to lab diagnostics anytime, anywhere.   

HLTH Partnered with Albertsons

On 22nd March 2022, HLTH reported an exclusive partnership deal with Albertsons Companies. The collaboration intends to offer clients access to convenient, fast molecular, highly accurate Covid-19 tests. This new service will allow clients to receive their Covid-19 test reports via email within 20 minutes. The companies expect the availability of tests at most Albertsons pharmacies by the upcoming weeks. 

Management Comments

Co-founder and CEO of HLTH, Ayub Khattak, commented that this partnership would facilitate instant access to convenient, quick, and precise testing solutions. Pharmacy testing at Albertsons shops clears barriers and offers real-time information that allows clients to make timely decisions.

Mr. Ayub added that they are eager to collaborate with Albertsons to deliver their creative testing technology to more customers as the company is digitally transforming personalized healthcare.

EVP of Pharmacy and Health at Albertsons, Omer Gajial, remarked that they had joined hands with HLTH to feature these unique tests in local pharmacies. This diagnostic testing technology offers more options for their clients to access health and wellness solutions at their stores. 

HLTH Covid Test Available in Canada 

Earlier on 16th March 2022, HLTH published that its molecular Covid-19 testing service is now accessible for customers in Canada. The clients can access the Covid-19 test for home via the company’s e-commerce website and in-app store. HLTH has acquired authorization from Health Canada to commercialize its test for both professional and personal use. The test completely fulfills current Covid testing requirements for global travel in different countries.   

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