The medical technology firm, Intelligent Bio Solutions Inc. (Nasdaq: INBS), revealed on December 5 that P&O Ferries has implemented its innovative Intelligent Fingerprinting Drug Screening System for swift, non-intrusive drug and alcohol testing. This adoption is part of P&O Ferries' comprehensive drug and alcohol testing policy. As a prominent player in the ferry and logistics sector, P&O Ferries operates extensively throughout Europe.
P&O Ferries plans to implement the system at three ferry ports in the United Kingdom, specifically in Hull and Dover, England, and Larne in Northern Ireland. Intelligent Bio Solutions will supply portable screening cartridges and DSR-Plus readers for the random testing of seafaring staff. It's important to highlight that this system deployment not only contributes to maintaining a safer work environment for P&O but also offers a significantly more cost-effective method for drug testing.
P&O Ferries previously engaged an external service provider for drug testing, utilizing random urine tests for seafaring personnel aboard ferries. This approach proved inefficient, costly, and inflexible, prompting a shift towards an internal program featuring the Intelligent Fingerprinting Drug Screening System. This transition is expected to substantially decrease P&O's overall drug testing expenses, potentially by up to 90%. The system's portable and non-intrusive design enables on-board deployment, providing the company with flexibility for seafarer testing as needed. The system is already operational within the company and currently training HR team members for proficiency. There are also plans to extend the testing program to include on-shore employees in the future.
From a technical perspective, Intelligent Bio Solutions Inc. (NASDAQ: INBS) exhibits the potential for a notable rebound in November 2023. As a result, the stock concluded November 2023 with a closing price of $0.5775 and an intraday peak of $0.78. On November 30, 2023, Intelligent Bio Solutions Inc. (NASDAQ: INBS) stock closed-up 64.38% at $0.42 on 18,630,787 shares of volume, making it a noteworthy stock to keep a close eye on in the upcoming weeks.
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