The Company and its Business
24-7 Labs Corporation is a medical laboratory testing service focused on COVID-19 and STD testing based on convenience, affordability, and simplicity. We provide direct to consumer nationwide testing through our partnership with LabCorp of America, the world’s leading health care diagnostics company and operator of one of the largest clinical laboratory networks in the world.
The medical laboratory testing market valued at $205 billion in 2018. It is projected to surpass $342 billion globally by 2024. The aging population and the movements toward preventive care have increased the demand for industry services.
Based on service providers, the global clinical laboratory services market is segmented into stand-alone laboratories like 24-7 Labs, hospital-based laboratories, contract research organizations (CROs) and others.
Laboratory testing is said to be the first step towards diagnosis and prevention of a disease or any condition. Approximately 80% of physician’s diagnoses are a result of laboratory tests. As the battle for health care reforms continues to plague the nation the need for medical laboratory testing services such as 24-7 Labs will see a steady increase.
Research shows that with the increased use of the Internet for medical information, consumers have become medical consumers not just patients. This has created a change in the doctor/patient relationship as individuals become more knowledgeable about their own health and want more control over their personal information and treatment decisions.
24-7 Labs realizes the importance of providing individuals with a service they could use to monitor their health at any time. 24-7 Labs mission is rooted in the dire necessity of healthcare services being available to everyone.
24-7 Labs has managed to maintain a level of success by being flexible, acquiring a trustworthy and impeccable digital reputation, providing exceptional customer service, and expressing a belief that individuals should have the tools to monitor their health on their terms.
The stand-alone laboratories segment is anticipated to dominate the market due to privatization of the laboratories, value added services offered such as online booking (24-7 Labs does this already), sample collection at home etc.
Provide direct-to-consumer medical laboratory testing twenty-four hours a day to consumers nationwide via e-commerce outlets.
Our keys to success include:
1. No insurance required for testing;
2. Health Spending Accounts (HSAs) and Flexible Spending Accounts (FSAs) are accepted;
3. No doctor’s orders required for testing;
4. 24-hour testing options are available at our Florida locations; An option our competitors do not offer;
5. Tailored E-Commerce solutions allow our target customers; Millennials, Generation Xers, and Baby Boomers to easily schedule appointments, purchase testing, and receive their results on the go;
24-7 Labs offers a wide range of medical laboratory testing to individuals nationwide and local. At our Tampa locations individuals are able to visit us on-site and have testing completed. Testing outside of our Tampa locations requires individuals to visit a nearby LabCorp of America location to complete testing.
All services can be purchased through our website, www.24-7labs.com. In addition, potential customers can schedule appointments or chat about purchasing services through our social media platforms, email, or direct phone calls.
Although we offer a variety of medical laboratory testing; over time we have focused on highlighting testing that has been more instrumental to increasing sales.
Basic Kit – Gonorrhea, Chlamydia & Pregnancy
Standard Kit – Basic Kit + Trichomonas
Covid-19 Kit – rt-PCR tests the pressure or absence of SARS-CoV-2
Comprehensive Kit – Standard Kit + Herpes 1&2 & RPR Syphilis
Super Kit – Comprehensive Test + Hep C & HIV
Total Kit – Super Kit + Mycoplasma
According to the CDC, STDs are increasing and the omittance of using protection barriers are the main factors. 2.3 million cases of chlamydia, gonorrhea, and syphilis were diagnosed in 2017, surpassing the record set in 2016 by more than 200,000.
We project no change in our top three selling services and continue to highlight them as major parts in our marketable assets.
**NOW OFFERING COVID-19 TESTING**
The world is rapidly experiencing how important infectious disease testing is during a pandemic. Medical facilities and first responders are overwhelmed as they battle the influx of patients seeking medical testing and treatment.
24-7 Labs has added Covid-19 to its array of infectious disease testing capabilities.
Panther System *Scheduled for delivery in October 2020*
The foundation for assay consolidation, future scalability and growth.
The addition of the Panther system to our lab in the next couple months will give us the capability to consolidate menu on a fully automated system, load samples in any order at any time, eliminate batch constrants and decrease turnaround time.
Market Analysis Summary
24-7 Labs target market consists of local customers (walk-ins) or website customers (nationwide). The local and website customers can be further segmented into three distinct groups: Millennials, Gen Xers, and Baby Boomers.
Millennials. This group of customers is between the ages of 18 – 34 and represent the largest generation of entrepreneurs. They value social issues ahead of economics, prefer to do all their shopping online, are impressed with innovativeness, listen to podcasts, read reviews, value the opinions of others, and are avid social media users on Instagram, SnapChat, and Twitter.
Gen Xers. This group of customers is between the ages of 35 – 50, they are paying mortgages, raising children, reading newspapers, technologically adept, independent, money savers, emailers, dual-income families, believe in education as a means to have success, believe in the need for work/life balance.
Baby Boomers. This group of customers are between the ages of 51 – 69, they have the highest divorces and second marriage rates in history, most educated, workaholics, prefer phone calls or in-person conversations, Facebook users, highest value as consumers in the market, brand loyal, credit card users, traditional tv consumers, and blog readers.
Target Market Segment Strategy
With a very minimal budget, we have focused our efforts on Search Engine Optimization, Social Media, Pay Per Click Ads, and Referrals.
Our goal is to increase our current efforts and implement traditional advertising methods such as coupons, flyers, and events as well as focus on email marketing, audio advertising, increasing digital content, and location-based marketing.
Web Plan Summary
24-7 Labs recently redesigned its website under the domain name www.24-7labs.com. The website is a mission-critical tool from multiple perspectives. Its primary purpose is to be our e-commerce site and influence nationwide sales. It also serves as a platform to provide information about health, wellness, and testing services.
The homepage provides the most popular testing services and a simplistic way for visitors to find information, schedule appointments, chat, make a call, or purchase testing.
Website Marketing Strategy
24-7 Labs is developing an integrated approach involving Social Media, Lead pages, SEO, and Pay Per Click Ads to drive higher e-commerce sales.
Social Media and Pay Per Click campaigns will drive targeted customers to www.24-7labs.com or provide the option for them to schedule appointments within the social media platforms.
The SEO strategy heavily relies on key search phrases and backlinks that direct searchers and viewers on other pages to www.24-7labs.com.
24-7 Labs two main competitors, Any Lab Test Now and Health Check USA are able to invest large sums into their Search Engine Optimization (SEO), Digital Marketing, and Advertising efforts which increases traffic to their websites, builds brand loyalty and recognition, and ultimately generates sales.
24-7 Labs competitive strengths rely upon convenience. Over the years we have gained knowledge and learned which strategies, target markets, and customers to focus our resources on.
Our biggest advantage is our Florida locations where we are able to offer 24-hour testing. Our 24-hour service allows individuals to have testing conducted at any time on any day, as long as they schedule an appointment. As of now, none of our local competitors are providing such a service which allows us to dominate the local markets.
We do not expect to experience material seasonality in the activity level of our business. However, Pandemics and Epidemics may cause additional peaks in our growth.
Offering Minimum: $5,000.00 / 50,000 shares of Common Stock
Offering Maximum: $250,000.00 / 2,500,000 shares of Common Stock
Type of Security Offered: Common Stock
Purchase Price of Security Offered: $0.10
Minimum Investment Amount (per investor): $200.00
Meet Our Team
Chairwoman & COO
Chairwoman & COO
Ms. Roldan is the founder and CEO of 24/7 Labs. She has dedicated her entire professional career to give patients the power to control their health by providing convenient, affordable, and easy to understand options for monitoring their wellness. She developed tests which include drug testing for family, employer and legal issues, paternity testing, and 100’s of health and wellness testing. She has built the business to several locations throughout Florida with ambitions to grow it world-wide.
President & CEO
Dr. Larry Duran
President & CEO
Dr. Larry Duran
Dr. Duran began his medical career at the Libre University of Barranquilla Colombia. After Culminating his medical schooling to become a Surgeon, Dr. Duran began his Internship at Tampa General Hospital. Currently Larry’s focus is to interact more with the English-speaking community and the world by integrating his experience as an entrepreneur and doctor to make health and wellness available to the entire world.
Chief Medical Officer & Director
Dr. Rey Linares, M.D.
Chief Medical Officer & Director
Dr. Rey Linares, M.D.
Dr. Rey Linares graduated from Universidad del Cauca in 1984 as a General Medical Doctor and Surgeon. He has been Board Certified by the American Board of Internal Medicine, Pulmonary and Sleep Medicine. He moved to Tampa Bay, Florida in 1996 to a private group practice, and has had privileges as a medical staff in several hospitals, practicing all his skills in internal, pulmonary, intensive care and sleep medicine, where he has served in several leadership positions.