Mr. Alex Somjen reports
HIGH STANDARD HEALTH CARE BECOMES APPROVED VENDOR FOR LONG TERM CARE FACILITY
Global Care Capital Inc.'s portfolio company, High Standard Health Care Ltd., has, pursuant to entering into an approved vendor contract on July 6, 2020, become an approved vendor for Nevada-based long-term care facility Alta Skilled Nursing and Rehab Centre.
High Standard Health Care specializes in procuring personal protective equipment (PPE) including but not limited to respiratory masks, hand sanitizer, gowns, infrared thermometers and face shields, and has been active in procurement during COVID-19 for hospitals, municipalities, long-term care facilities, fire departments and police departments.
High Standard Health Care has existing relationships with China-based manufacturers which supply PPE products. High Standard Health Care provides production orders to these manufacturers from time to time at which point the manufacturers will allocate production from their facilities to support these orders.
Approved vendor contract
Under the terms of the contract, Alta will engage High Standard Health Care as an approved vendor for future procurement of PPE. Alta will contact High Standard Health Care to discuss PPE needs, specifications, quantities, delivery dates and pricing. High Standard Health Care will provide Alta with a quote with the purchase order details. Alta will notify High Standard Health Care within two business days after receiving the quote whether to proceed with a purchase order. High Standard Health Care will then complete the order and deliver the PPE to Alta in accordance with the purchase order. Once Alta receives the PPE in good order, High Standard Health Care will invoice Alta for payment.
Right of first offer
High Standard Health Care will have the right of first offer (ROFO) for agreed-upon PPE purchased by Alta. Alta will notify High Standard Health Care of its PPE procurement needs and send purchase order details to High Standard Health Care which will have three business days to provide a quote.
Alex Somjen, chief executive officer of Global Care, stated: "High Standard Health Care continues to demonstrate its ability to build on and create long-lasting mutually beneficial relationships with hospitals, long-term care facilities and cities in need of PPE. We are looking forward to seeing how the relationship with Alta progresses."
About High Standard Health Care
High Standard Health Care is a leading global PPE provider assisting front line workers during the global pandemic. To date the company has procured respiratory masks, gowns, hand sanitizer, infrared thermometers and face shields. High Standard Health Care customers include hospitals, municipalities, long-term care facilities, fire departments and police departments.
About Global Care Capital Inc.
Global Care Capital is a global investment company which specializes in providing early-stage financing to private and public companies. The company engages in new, early-stage investment opportunities in previously underdeveloped assets and obtaining positions in early-stage investment opportunities that adequately reflect the risk profile.
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