Consumer home-testing healthcare firm MyHealthChecked's (AIM: MHC) share price is rising on Tuesday after the company noted an announcement from the Department of Health and Social Care (DHSC).
The announcement stated that private COVID-19 testing companies will be removed from the GOV.UK list if they advertise misleading prices.
Currently, 82 providers, making up around 18% of companies listed, have been identified as displaying lower prices on GOV.UK than are available on their website at the point of checkout, according to the announcement.
MtHealthCecked said it welcomes a greater degree of scrutiny from the government.
Penny McCormick, CEO of MyHealthChecked, said: “This is very good news for the public as it will only improve the calibre of COVID-19 testing services available, and ensure pricing is transparent whilst driving an improvement in quality of service from those approved companies included on the Government list.
“At MyHealthChecked we have always been clear on pricing. We have made pricing information simple, the nasal swab process is simple and our customer care is second to none, with tens of thousands of satisfied customers as a result of our service.
“Sadly, we hear reports of other testing companies on the Government list also falling short when it comes to maintaining high standards across other aspects of their service and we welcome the Health Secretary's call for the competition watchdog to investigate concerns about inadequate service.
The company's shares are currently trading at 3.1p, up 8.6%.
MyHealthChecked shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are MHC shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.