Intelligent Bio Solutions Implements Strategic Reorganization Plan to Support Global Growth Initiatives
13 Giugno 2024 - 2:30PM
Intelligent Bio Solutions Inc. (Nasdaq: INBS) ("INBS" or the
"Company"), a medical technology company delivering intelligent,
rapid, non-invasive testing solutions, today announced the
implementation of a strategic and comprehensive reorganization and
productivity plan to support the Company’s global growth
initiatives.
As the Company approaches several growth
initiatives globally, including planned entry into the U.S. market
in 2025, management has made the strategic decision to transition
its operating structure from a UK-based model to a global
framework. The reorganization aims to leverage the strengths of
INBS’ diverse, international team and provide an agile structure as
INBS expands its geographical footprint. Amongst other initiatives,
the Company will operationally break down its regions into silos,
which will enable more efficient collaboration and innovation
between each, ensuring that the Company’s resources effectively
align with growth objectives. This operational improvement will
increase efficiency and position INBS for sustained, long-term
success in the global market.
Harry Simeonidis, President and CEO at INBS,
commented, “This strategic realignment will refocus priorities to
better serve our global markets, enhancing productivity and
creating synergies across our teams. The new functional structure
will streamline operations, optimizing our ability to deliver our
innovative, non-invasive medical technologies across the
globe.”
INBS’ first-of-its-kind solution uses
fingerprint sweat to provide a quick, hygienic, and easy-to-use
method for drug testing, delivering results in just minutes. This
unique approach tests for common drugs of abuse, including cocaine,
cannabis, methamphetamine, and opiates.
About Intelligent Bio Solutions
Inc.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is
a medical technology company delivering innovative, rapid,
non-invasive testing solutions. The Company believes that its
Intelligent Fingerprinting Drug Screening System will revolutionize
portable testing through fingerprint sweat analysis, which has the
potential for broader applications in additional fields. Designed
as a hygienic and cost-effective system, the test screens for
recent use of drugs commonly found in the workplace, including
opiates, cocaine, methamphetamine, and cannabis. With sample
collection in seconds and results in under ten minutes, this
technology would be a valuable tool for employers in
safety-critical industries. Additionally, the Company's biosensor
platform has the potential to test for various indications, ranging
from immunological conditions to communicable diseases. The
Company's current customer segments include construction,
manufacturing and engineering, transport and logistics firms, drug
treatment organizations, and coroners.
For more information,
visit: http://www.ibs.inc/
Forward-Looking
Statements:
Some of the statements in this release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act
of 1934 and the Private Securities Litigation Reform Act of 1995,
which involve risks and uncertainties. Forward-looking statements
in this press release include, without limitation, Intelligent Bio
Solutions Inc.'s ability to successfully develop and commercialize
its drug and diagnostic tests, realize commercial benefit from its
partnerships and collaborations, and secure regulatory approvals,
among others. Although Intelligent Bio Solutions Inc. believes that
the expectations reflected in such forward-looking statements are
reasonable as of the date made, expectations may prove to have been
materially different from the results expressed or implied by such
forward-looking statements. Intelligent Bio Solutions Inc. has
attempted to identify forward-looking statements by terminology,
including "believes," "estimates," "anticipates," "expects,"
"plans," "projects," "intends," "potential," "may," "could,"
"might," "will," "should," "approximately" or other words that
convey uncertainty of future events or outcomes to identify these
forward-looking statements. These statements are only predictions
and involve known and unknown risks, uncertainties, and other
factors, included in Intelligent Bio Solutions' public filings
filed with the Securities and Exchange Commission. Any
forward-looking statements contained in this release speak only as
of its date. Intelligent Bio Solutions undertakes no obligation to
update any forward-looking statements contained in this release to
reflect events or circumstances occurring after its date or to
reflect the occurrence of unanticipated events.
Company Contact:Intelligent Bio Solutions
Inc.info@ibs.incLinkedIn | Twitter
Investor & Media Contact:Valter Pinto,
Managing DirectorKCSA Strategic CommunicationsPH: (212)
896-1254INBS@kcsa.com
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