Applied UV, Inc. (NASDAQ: AUVI) is engaged as a pathogen elimination technology company, which utilizes innovative narrow-range ultraviolet light to sanitize surfaces and catalytic bioconversion technology for air purification. Shares of the medical device company are surging 56% through early trading on Thursday, June 9, 2022. Over the past three months, Applied UV has seen average daily volume of 2 million shares. However, volume of 89.48 million shares or dollar volume of around $254.12 million, has already exchanged hands through early trading.
Shares of Applied UV are soaring after the company announced that its international distributor, M/S Novatek Pakistan, has been granted sole source provider status for the Airocide air purification systems for use in government hospitals across Pakistan. The latest distribution expansion now covers 52 countries for Applied UV.
The deal was made through a government tender, as M/S Novatek Pakistan has an extensive history with working with the Pakistani government. Previously, the distributor secured a similar tender with Pakistani leadership to deploy 657 Airocide systems throughout the country.
Airocide is a U.S. Food and Drug Administration-approved Class II Medical Device and its patent-protected technology was originally developed for NASA. The deal comes as air purification systems continue to see high demand amid yet another COVID-19 variant spike around the globe.
John Andrews, Applied UV’s Chief Executive Officer stated, “We are proud to partner with M/S Novatek Pakistan and appreciate the trust they have placed in our Airocide suite of air purification solutions. Improving the quality of indoor air in all public indoor places, specifically government hospitals, protecting the facilities, staff and the patients who frequent them from dangerous pathogens is at the center of efforts by governments globally. With the implementation of these government guidelines and standards for business to use to improve indoor air quality beginning, our air purification solutions are the best-in-class tools to use as the world’s economy begins to re-open, post pandemic. As a Company, we are very aware of the great importance of improving the circle of care by protecting the worlds front line healthcare providers post this three-year pandemic. We look forward to working with M/S Novatek, we are extremely confident that our air purification solutions will help them achieve their stated goals.”
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