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Thursday, March 23, 2023

Renalytix (NASDAQ: RNLK) Receives 10-Year Governmentwide Contract for RenalytixAI

Renalytix AI Plc (NASDAQ: RNLX) disclosed Thursday that it has received a contract from US General Service Administration. US GSA has awarded the firm a 10-year Governmentwide Acquisition Contract (GWAC) to deliver KidneyIntelX early-stage kidney disease bioprognostic testing services.

Furthermore, the deal, received by RNLX by GSA, includes laboratory testing services that can be offered through more than 140 U.S. state departments, agencies’ associates. These departments include the DoD military branches (Army, Navy, Air Force, and Marines), U.S. Veterans Administration (VA), and Indian Health Services (IHS).

Details of the GSA Contract

The deal is active as of April 15, 2021, and has five years. The contract also has a five-year extension alternative. It is designed as an Indefinite Delivery, Indefinite Quantity (IDIQ) deal offering for an unlimited amount of essential services over the deal term. As per the contract between GSA and RNLX, the price of KidneyIntelX is fixed at $950 per mandatory reporting result.

After the contract is activated, the KidneyIntelX testing is now accessible through the Federal Supply Schedule. Moreover, this contract has also provided an option for individual doctors. As per the contract, the individual doctors working within government-sponsored medical programs can now order KidneyIntelX testing for their sufferers with diabetic kidney disease.

The entire process to be awarded a GSA contract can be regarded as additional support for the quality and significance of KidneyIntelX testing. The GSA contract allows RenalytixAI to commence efforts towards several integrated model implementations with state hospital systems.

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