The medical technology sector is a sector investors have been pretty positive about for some time due to the progress in the past decade or so. Naturally, investors are always on the lookout for stocks in the sector, and one company that could be worth looking into is Intelligent Bio Solutions Inc. (NAS: INBS).
The stock closed up over 4% in Thursday’s trading session and gained another 8.66% at $1.38 in the pre-market session.
The company is best known for its intelligence, non-invasiveness, and fast testing solutions. Yesterday, it was announced that its Intelligent Fingerprinting Drug Screening System had made its debut at the 2023 Workplace Health and Safety Show. The event was held on September 20 and September 21 in Sydney, Australia.
The system devised by the company is meant to provide a portable and non-invasive way to ensure health and safety at the workplace. It allows for convenient and fast drug testing at the workplace anytime and anywhere, thereby acting as a deterrent against drug abuse.
Additionally, the product would also serve as a source of encouragement for employees to stick to the health and safety standards of the workplace. The event in question is the only one of its kind in Australia that deals with health and safety at the workplace. The company made its presentation at the event alongside other leaders in the same industry.
The Workplace Health and Safety Show has become an increasingly important event for the industry. In a survey that was held last year, it was revealed that 96% of the surveyed visitors called the event important for discovering new products or services.
The Vice President of Sales and Operations at the company, Peter Passaris, spoke about the development as well. He noted that Intelligent Bio had received a strong response from some of the more important decision-makers across a number of industries. Many had also shown interest in the company’s innovative drug screening system.