COVID-19 testing has become a lucrative business for pathology companies. While people are dying or having lifelong issues due to contracting the virus, companies become rich off the sick and dying, as well as the fearful.
Private pathology companies have made a substantial amount in revenue throughout the global pandemic, and now that others see what kind of profit it can churn out, smaller companies that can give cheaper and faster testing want a piece of it.
Pathology labs test the ones that are done at pop up sites and sent off.
In Australia there have been 31 million tests done and Australian Clinical Labs saw their profits increase by 46%.
Sonic Healthcare, another pathology testing facility, saw a 149% increase.
Testing companies aren’t the only ones making money off the backs of sick people during a global pandemic though.
Hospitals and nursing homes received billions of dollars in bail out money, insurance companies collect tons of money with fewer claims to pay as people stayed home or skipped elective surgeries, and Moderna saw a 64% increase due to vaccine sales. Regeneron went up 60% and made billions off their COVID-19 antibody treatment.
Fortunes were also made off of the production of necessary medical equipment.
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