The medical technology firm, Intelligent Bio Solutions Inc. (Nasdaq: INBS), revealed on December 5 that P&O Ferries has implemented its innovative Intelligent Fingerprinting Drug Screening System for swift, non-intrusive drug and alcohol testing. This adoption is part of P&O Ferries' comprehensive drug and alcohol testing policy. As a prominent player in the ferry and logistics sector, P&O Ferries operates extensively throughout Europe.
P&O Ferries plans to implement the system at three ferry ports in the United Kingdom, specifically in Hull and Dover, England, and Larne in Northern Ireland. Intelligent Bio Solutions will supply portable screening cartridges and DSR-Plus readers for the random testing of seafaring staff. It's important to highlight that this system deployment not only contributes to maintaining a safer work environment for P&O but also offers a significantly more cost-effective method for drug testing.
P&O Ferries previously engaged an external service provider for drug testing, utilizing random urine tests for seafaring personnel aboard ferries. This approach proved inefficient, costly, and inflexible, prompting a shift towards an internal program featuring the Intelligent Fingerprinting Drug Screening System. This transition is expected to substantially decrease P&O's overall drug testing expenses, potentially by up to 90%. The system's portable and non-intrusive design enables on-board deployment, providing the company with flexibility for seafarer testing as needed. The system is already operational within the company and currently training HR team members for proficiency. There are also plans to extend the testing program to include on-shore employees in the future.
From a technical perspective, Intelligent Bio Solutions Inc. (NASDAQ: INBS) exhibits the potential for a notable rebound in November 2023. As a result, the stock concluded November 2023 with a closing price of $0.5775 and an intraday peak of $0.78. On November 30, 2023, Intelligent Bio Solutions Inc. (NASDAQ: INBS) stock closed-up 64.38% at $0.42 on 18,630,787 shares of volume, making it a noteworthy stock to keep a close eye on in the upcoming weeks.
Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors with a safe harbor with regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, and assumptions about future events or performance are not statements of historical fact and may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. TheStreetReports (TSR) is responsible for the production and distribution of this content."TSR" is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. "TSR" authors, contributors, or its agents, may be compensated for preparing research, video graphics, podcasts and editorial content. "TSR" has not been compensated to produce content related to "Any Companies" appearing herein. As part of that content, readers, subscribers, and everyone viewing this content are expected to read the full disclaimer in our website.