said it has launched a Covid-19 testing service to support employers returning to work and workplace safety through its Medical Information Services business.
The employee and medical screening specialist said employees will receive a CRL Clear™ kit, a finger prick test which identifies if a person has been previously infected with the virus.
The CRL Clear™ kit is based on the Roche Elecsys® anti-Covid-19 antibody test, which has received the CE mark and US Food and Drug Administration Emergency Use Authorisation.
If an employee tests positive for having had Covid-19, they will receive the CRL Clear™ kit, a saliva-based molecular diagnostic test which can determine if the virus is still active.
Those testing positive, meaning they are currently infected with Covid-19, will automatically be contacted by a licensed doctor to discuss the results and next steps the group said.
The test will be provided through Clinical Reference Laboratory, one of the largest privately owned clinical testing laboratories in the US which offers both antibody and diagnostic testing.
Shares in ClearStar were trading 17.56% higher at 48.2p on Thursday morning.
From 1st June, any ClearStar client will be able to access this solution, using the same process as their existing drug and clinical screening programmes.
Test results are to be reported via the group's platform within 24 hours of samples being received by the Clinical Reference Laboratory in the US.
"Balancing the equally important goals of getting people back to work and ensuring their safety and well-being is top priority for employers,” said Robert Vale, CEO of ClearStar.
“The delicate balance between recovery and safety is being addressed by business worldwide,” said analysts at house broker, finnCap, in a research note this morning.
The broker said the testing service will be “an immediate and welcome revenue boost” for the group’s Medical Information Services but will also attract new customers to ClearStar.
finnCap said Clearstar’s offering should see “huge demand” given that testing will be an important aid to restarting economic activity across the world.
Follow News & Updates from Clearstar here:
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
The group said it will apply for a liquefied natural gas ("LNG") import licence for Ireland and has reached a number of confidentiality agreements with a global supplier of LNG and and an owner of LNG regasification vessels.
British car manufacturing came to a screeching halt in April, down 99.7% against the same month last year. It was the lowest output since the Second World War with just 197 premium and luxury sports vehicles rolled off factory lines, with 45 of those sent to UK customers.
The group has released its final results for the period ending 31 December 2019 and has highlighted the surge in revenue as largely driven by a £8.6m or 34% contribution from environmental services firm, Watbio, which the company snapped up in December 2018.