viewLoop Insights Inc.

Loop Insights partners with Summit One Source to bring COVID-19 testing and tracing to major US organizations

It will provide complete end-to-end COVID-19 management solutions, including rapid mobile testing, integrated lab results and exposure alert notifications

Loop Insights Inc. -
Summit, a workforce management solutions company, works with major US organizations like the NCAA sports league

Loop Insights Inc (CVE:MTRX) (OTCQB:RAMF) inked a new agreement with workforce solutions firm Summit Services Inc dba Summit One Source to deploy COVID-19 lab testing and tracing capabilities to major US organizations. 

The Vancouver-based artificial intelligence company said Tuesday that it signed a referral and partnership agreement with Summit One Sources to provide complete end-to-end COVID-19 management solutions, including rapid mobile testing, integrated lab results and exposure alert notifications.  

Summit works with leading institutions in the US, such as the NCAA college sports league, healthcare and hospitality organizations and the US government. 

READ: Loop Insights and Amazon Web Services to showcase Loop’s Venue Tracing Solution at October 29 webinar

"Our objective has always been to help our customers transform their business,” CEO Rob Anson said in a statement.

“We have the ability to integrate with any testing platform globally in order to deliver a true turn-key, end-to-end COVID-19 management solution. With Summit, we saw an opportunity to provide the infrastructure to implement safe venue tracing and testing protocols."

Summit COO Emily Jones told investors that Loop’s venue tracing platform is the “perfect complement” to its service offering.

“Our goal is to bring to market the tools and technology to enable our community to return safely to work and our children to a safe learning environment,” Jones said. “We have listened to our client's needs and feel that combining our technologies will allow us to provide the best available resources. Loop enhances our ability to provide full data connectivity across all of our partners during this critical time."

Under the partnership, Loop will introduce two technology integrations to its clients and partnerships. XenonChex automates daily tasks associated with ensuring business locations remain compliant and allows management oversight. iStoc’s FDA, CE, and HIPAA compliant, real-time dashboard tool leverages "big data" to enable comprehensive review and ensure a safer workplace.

One client in particular, will represent a key revenue opportunity: the NCAA league, which is made up of 1,268 American colleges and universities. Loop’s venue tracing platform generates revenue through a software-as-a-service (SaaS) and a cost per user model, which will allow the NCAA to scale across campuses and facilities quickly, the company said in a statement.

Loop also established a revenue-sharing model based on marketing and brand sponsorship dollars that are generated on the platform for those in attendance or at home.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Loop Insights Inc.

Price: 0.74 CAD

Market: TSX-V
Market Cap: $71.83 m

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