ARCPOINT EXPANDING DISTRIBUTION NETWORK WITH MYACPOINTLABS PLATFORM
Greenville, South Carolina, Aug. 10, 2023 (GLOBE NEWSWIRE) -- ARCpoint Inc. (TSXV: ARC) (the “Company” or “ARCpoint”) a leading US-based franchise system providing drug testing, alcohol screening, DNA and direct to consumer (“DTC”) clinical lab testing services is pleased to provide an update on the roll out of its consumer e-commerce platform, MyARCpointLabs, (“MAPL”) as previously announced in the Company’s July 10, 2023 news release.
ARCpoint’s President and CEO, John Constantine commented “With the full launch of MyARCpointLabs last month, 90 of the Company’s 135 locations have now gone through the MyARCpointLabs onboarding and training process and 36 of those locations have begun using and integrating the platform into their daily business. In addition, 105 affiliate businesses are signed up through 21 of our franchise locations to use the MyARCpointLabs platform on a SaaS basis. This currently gives us 240 physical locations where consumers could purchase our tests and services.”
Affiliate businesses (“affiliates”) are businesses that are separate from ARCpoint, such as health or vitamin stores, fitness facilities, chiropractor offices, physician offices, clinical and genetic reference labs and pharmacies. Given regulatory, licensing, technology and other issues, many of these types of businesses have not been previously able to offer DTC healthcare testing services. Using the MyARCpointLabs platform, affiliates are able to offer some or all of ARCpoint’s products and services to their customers to both enhance their own product and service offerings and, in some cases, generate additional revenue, while at the same time meeting applicable regulatory and other compliance obligations.
Mr. Constantine added “We will continue to onboard and train our existing and new franchisees on the MyARCpointLabs system as quickly as possible. At the same time, we are working hard to add affiliate users on both an individual location and national accounts basis, with the intention of dramatically increasing our distribution network and number of potential consumer touchpoints as rapidly as possible.”
MyARCpointLabs was developed to make it easier for the Company’s franchisees to attract and better serve individual healthcare consumers and to make it easier for consumers to purchase the Company’s products and services. The affiliate program is an excellent example of the culture of innovation at ARCpoint that helps drive business into franchisee locations.
An example of how affiliates can expand the ARCpoint distribution network and drive revenue to the Company would be a nutrition store that decides to become an ARCpoint affiliate. Deploying the MyARCpointLabs platform on a SaaS basis, the affiliate would have a dedicated landing page for their business where all ARCpoint tests and services they choose to offer are listed. This landing page includes an easy process for consumers to use an affiliate displayed QR code to order, pay for and schedule a test. To a customer, the system makes transactions much like making a normal online purchase or restaurant reservation. Landing pages are accessible by mobile phone or other digital device and through a QR code in the affiliate business location. Using these tools, an affiliate has the ability to offer and promote ARCpoint testing services to their customers to help support the sale of their own products and services. In the case of a health store that sells Vitamin D supplements, it may be crucial for the success of the therapy for the user to know what their Vitamin D level is before they start taking the supplement and after they have been taking it. Accordingly, such an affiliate’s customers could order and schedule the applicable testing through the affiliate and have it performed at an ARCpoint location, without having to go to their doctor. The customer could then share those results with the affiliate so they could adjust their therapy accordingly. To use the MyARCpointLabs platform, affiliates may pay a monthly recurring technology fee, as well as a fee for each of their customer transactions. In return, affiliates would receive a portion of the test revenue their customers generate. Depending on whether the affiliate is a local business or part of a national account, fees would accrue to the franchisee or ARCpoint respectively. In the case of fees accruing to the franchisee, ARCpoint would in turn receive its participation through the 7% royalty on revenues franchisees pay to the Company.
About ARCpoint Inc.
ARCpoint is a leading US-based franchise system that leverages technology along with brick-and-mortar locations to give businesses and individual consumers access to convenient, cost-effective healthcare information and solutions with transparent, up-front pricing, so that they can be proactive and preventative with their health and well-being. ARCpoint is based in Greenville, South Carolina, USA. ARCpoint Franchise Group LLC, formed under the laws of the state of South Carolina in February 2005, is the franchisor of ARCpoint Labs and supports over 130 independently owned locations. ARCpoint sells franchises to individuals throughout the United States and provides support in the form of marketing, technology and training to new franchisees. ARCpoint Corporate Labs LLC develops corporate-owned labs committed to providing accurate, cost-effective solutions for customers, businesses and physicians. AFG Services LLC serves as the innovation center of the ARCpoint group of companies as it builds a proprietary technology platform and a physician network to equip all ARCpoint labs with best-in-class tools and solutions to better serve their customers. The platform also digitalizes and streamlines administrative functions such as materials purchasing, compliance, billing and physician services for ARCpoint franchise labs and other clients.
For more information, please contact:
ARCpoint Inc.
Jason Tong, Chief Financial Officer
Phone: (604) 889-7827
E-mail: invest@arcpointlabs.com
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