SuperCom (SPCB) Surges 110% After Winning a COVID-19 Quarantine Compliance Project in Israel, Worth $3M Per Month
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SuperCom (NASDAQ: SPCB) surged 110% after the company announced that it has won a tender with the Israeli government for lease of the Company's proprietary PureHealth Coronavirus(COVID-19) Quarantine Compliance Solution, including the PureCare smartphone and PureTag bracelet, as well as complementary services including installation, training for users, support, monitoring, and reporting.
This nationwide project is expected to commence next week, along with contract signing, for an initial term of 3 months, with an option to be extended for up to 36 months. The project is billed at a per-unit per-day rate is expected to generate approximately $3 million per month in recurring revenues for SuperCom. However, revenue may increase or decrease based on actual usage.
SuperCom formerly completed a successful pilot program in which travelers arriving at Israel's international airport were offered the opportunity to go on home quarantine for 10-14 days with SuperCom's PureCare technology and program. Following high demand – over 91% choosing to opt in for the program – and traveler reported satisfaction, the Israeli Ministry of Health expressed immediate demand for a bracelet-based COVID-19 quarantine solution to support permitting Israel's international airports to open for large numbers of travelers to enter the country on a daily basis.
SuperCom won a government competitive bid process, after the passage of a new law by Israel's Parliament which sets the guidelines and regulations around quarantine compliance with the help of stay-at-home compliance technology.
"We are honored to receive the award by the Israeli government for this large and important national project. This further affirms our strategic approach to mitigating the spread of the coronavirus without causing undue intrusion into daily life," commented SuperCom's President and CEO, Ordan Trabelsi. "As a global community, we continue to be faced with the challenges of COVID-19 and the variants that are spreading internationally. A solution for comfortable and effective quarantine compliance can be a valuable tool for inhibiting the transmission of this virus," Ordan continued.
"At SuperCom we strive to help governments around the world with their challenges by offering outstanding services, technology expertise and innovation. I would like to thank the great people at SuperCom and our partner companies for their continued hard work and efforts to make this all possible. SuperCom is prepared for the rapid deployment of the Israeli COVID-19 quarantine compliance project and we look forward to continue demonstrating to the world how our large scale, non-invasive technology-driven solution can help in the fight against COVID-19," concluded Ordan.
PureHealth is a non-intrusive patient friendly suite that verifies people's location. The solution can operate with a mobile phone standalone or with additional accessories as needed. In addition to the PureCare smartphone and PureTag ankle bracelet, SuperCom offers a web based SAAS system to manage the field based devices and compliance with program defined rules. This best-of-breed system includes a comprehensive set of innovative features, including smart phone integration, secure communication, advanced AI and security, anti-tamper mechanisms, fingerprint biometrics, voice communication and extended battery life.
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