By Christiana Sciaudone
Investing.com -- Albertsons Companies (NYSE: ACI ) jumped 5% after announcing a Covid-19 test partnership.
Albertsons is working with Phosphorus, a genomics company, to begin offering at-home Covid-19 test kits in select market areas, with plans to expand the offering throughout September and October.
The supermarket giant's IPO priced at $16 in June, compared to about $13.79 today.
Results are back in 72 hours or less from the time the lab receives the test, which has Emergency Use Authorization by the Food and Drug Administration for the detection of Covid-19.
From their home, patients complete an online questionnaire that is reviewed by a local Albertsons pharmacist. The patient is then contacted by the pharmacy to schedule a pickup or delivery. The patient completes the saliva sample collection and sends it to the lab via the kit’s prepaid next-day shipping envelope. The results are delivered by email or text.
Currently, the pharmacy cannot bill insurance directly for the test; all payment is out-of-pocket.
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