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ITL Health Group wins supply contract with New Zealand Blood Service

Two-year supply agreement, with possible ongoing renewals.
ITL Health Group wins supply contract with New Zealand Blood Service
The company’s half-yearly profit has doubled

ITL Health Group’s (ASX:ITD) ITL BioMedical division has signed a two year supply agreement for its SampLok Sampling Kit (SSK) with New Zealand Blood Service (NZBS).

SSK is an innovative product that is used in the blood banking market to transfer platelet samples during bacterial detection testing.

NZBS provides blood and tissue products and related services in New Zealand.

The NZBS contract builds on increased global SSK sales in 2016 when ITL signed many new contracts.

This includes a global distribution agreement with bioMérieux, a multinational biotechnology company.

ITL BioMedical provides specialty ancillary products for the blood culture testing market, estimated to be worth US$3.3 billion in 2016 and growing to US$4.8 billion by 2021.

In February 2017, ITL Health announced a profit after tax of $2.1 million for the 6 months to 31 December 2016, up 104% from the corresponding 2015 period.

The company reported a revenue of $17.5 million for the half year ending 31 December 2016, up 11% from the corresponding 2015 period.

ITL Health maintains four divisions including ITL BioMedical, ITL Healthcare, ITL Clinical and MyHealthTest.

The company holds a portfolio of 48 patents and sells into 55 countries.

ITL Health’s share price increased more than 60% since that start of 2017, last trading at $0.55.

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