CVS Health Corporation (CVS)

[FUNMAN]

CVS expands third-party lab partners network to speed up COVID-19 test results

Reuters
August 20, 2020

https://finance.yahoo.com/news/cvs-expands-third-party-lab-120229928.html

It's good PR - FUNMAN

Aug 20 (Reuters) - CVS Health Corp said on Thursday a majority of its COVID-19 test results will be available within 2-5 days, as the drugstore chain expanded its network of third-party lab partners to help improve the turnaround time of its results.

The company also said it expanded its COVID-19 testing program by adding 77 test sites at CVS Pharmacy drive-thru locations across Florida, which are among more than 1,900 locations where its testing sites have opened since May.

CVS and other U.S. retailers including Walgreens Boots Alliance, Walmart Inc and Target Corp have provided space at their parking lots for drive-through sites to help ramp up testing.

Adequate diagnostic testing and faster processing are crucial for the United States, which leads the world in COVID-19 cases and deaths.

Diagnostic companies Quest Diagnostics Inc and Laboratory Corporation of America Holdings have struggled to meet the demand for tests.

Quest said on Monday its average turnaround time for COVID-19 molecular diagnostic tests is 1-2 days.

(Reporting by Trisha Roy in Bengaluru; editing by Uttaresh.V)