Intelligent Bio Solutions will implement its drug screening technology for Managed Waste Service's operations in New South Wales.
Quiver AI Summary
Intelligent Bio Solutions Inc. announced that Managed Waste Service (MWS), a prominent waste management company in Australia, will implement its Intelligent Fingerprinting Drug Screening System across multiple sites in New South Wales. This initiative represents MWS's first foray into in-house drug testing, allowing for on-site pre-employment, random, and for-cause testing across over 20 remote locations. The system offers a quick and non-invasive method for drug screening through fingerprint sweat analysis, providing results in under ten minutes. MWS's Partner, Con Constantinou, emphasized the importance of efficiency and safety in their operations, stating that the on-site testing enhances compliance and team safety. Doug Heath, Vice President at Intelligent Bio Solutions, highlighted the system’s ease of use and support for rapid testing in various sectors, reflecting a growing trend toward innovative drug testing solutions.
Potential Positives
- Managed Waste Service plans to implement Intelligent Bio Solutions' drug testing technology across over 20 locations, marking a significant expansion of INBS' customer base.
- The agreement enhances INBS' presence in safety-critical industries, highlighting the increasing recognition of their technology for effective drug screening.
- INBS’ Intelligent Fingerprinting Drug Screening System provides rapid and non-invasive testing, potentially improving workplace safety and operational efficiency for MWS.
- The collaboration reflects a broader adoption of INBS’ technology, with over 450 organizations across 24 countries already utilizing their drug screening solutions.
Potential Negatives
- Dependence on forward-looking statements may lead to investor skepticism regarding the company's projected growth and ability to meet expectations.
- Potential risks and uncertainties associated with successfully commercializing their products could deter interest from potential partners or investors.
- The mention of "unknown risks" in the context of their business model may raise concerns about the robustness of their technology and market position.
FAQ
What is the Intelligent Fingerprinting Drug Screening System?
The Intelligent Fingerprinting Drug Screening System is a non-invasive method that screens for drug use through fingerprint sweat analysis.
How does MWS plan to use this drug screening system?
MWS plans to conduct on-site pre-employment, random, and for-cause drug testing across more than 20 operational sites.
What are the benefits of on-site drug testing?
On-site drug testing improves efficiency and safety, offering quick results without the disruptions of traditional outsourced models.
Why is fingerprint drug testing gaining popularity?
Fingerprint drug testing is recognized as a fast, dignified, and effective option for managing safety and compliance in various industries.
What industries can benefit from INBS' technology?
INBS' technology is beneficial for industries such as construction, manufacturing, logistics, mining, and environmental services focused on workplace safety.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$INBS Hedge Fund Activity
We have seen 6 institutional investors add shares of $INBS stock to their portfolio, and 7 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
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- TWO SIGMA SECURITIES, LLC removed 15,397 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $22,171
- GOLDMAN SACHS GROUP INC added 12,817 shares (+inf%) to their portfolio in Q1 2025, for an estimated $18,456
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Full Release
NEW YORK, June 18, 2025 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced that Managed Waste Service (“MWS”), a leading Australian waste management provider, plans to implement INBS’ Intelligent Fingerprinting Drug Screening System across its New South Wales operations, including its land clearing and green waste processing sites.
The decision marks MWS's first move into in-house drug testing across multiple locations, with more than 20 sites simultaneously engaged in remote testing operations. MWS plans to conduct pre-employment, random, and for-cause testing on-site, giving operational teams complete control over safety processes without the disruption associated with traditional outsourced models.
"In our industry, efficiency and safety go hand-in-hand," commented Con Constantinou, Partner at Managed Waste Service. "We operate across more than 20 sites at any given time and must ensure that every team member is fit for work daily. INBS’ on-site testing solution provides the visibility and speed we need to stay compliant and keep teams safe."
The Intelligent Fingerprinting Drug Screening System offers a quick, non-invasive method to screen for recent drug use through fingerprint sweat analysis, delivering results in under ten minutes. INBS' technology enables MWS to implement a scalable, portable solution that aligns with the nature of their fieldwork, whether testing at a remote clearing site or managing compliance across several waste facilities simultaneously.
"For companies like MWS, testing needs to happen where the work happens," said Doug Heath, Vice President of Global Sales at Intelligent Bio Solutions. "This is about removing complexity. Our system gives teams across a broad range of sectors the tools to act quickly and benefit from rapid, non-invasive testing that’s easy to administer, requires no specialized training, and supports safer, more efficient workplaces."
This implementation reflects INBS' continued expansion into safety-critical industries, with environmental services now joining a growing portfolio of sectors adopting sweat-based drug testing. As industries seek more innovative, practical, and scalable ways to manage safety and risk, fingerprint drug testing is gaining increasing recognition as the most effective, dignified, and fastest option. INBS is transforming drug testing, with more than 450 organizations across 24 countries using its technology to streamline and simplify workplace testing.
About Managed Waste Service
Managed Waste Service is a waste and recycling company committed to landfill reduction and advancing a circular economy. It provides solutions across general waste, recycling, liquid waste, coffee grind collection, and green waste. Its zero-waste services support industries including hospitality, events, floristry, and landscaping, diverting materials like lawn clippings and coffee grinds from landfill. With a flexible fleet of hook-lift, front-loader, rear-loader, and skip trucks, the company services sites of all sizes. It also tracks waste data to support customer sustainability goals. Managed Waste Service delivers practical, sustainable business, environment, and budget outcomes. Through its innovative approach, Managed Waste Service delivers sustainable outcomes that align with business needs, environmental goals, and long-term cost efficiency.
For more information, visit: https://mwsg.com.au/
About Intelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company’s current customer segments outside the US include construction, manufacturing and engineering, transport and logistics firms, mining, drug treatment organizations, and coroners.
For more information, visit: https://www.ibs.inc
Forward-Looking Statements:
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, Intelligent Bio Solutions Inc.'s ability to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefit from its partnerships and collaborations, and secure regulatory approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology, including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, included in Intelligent Bio Solutions' public filings filed with the Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of its date. Intelligent Bio Solutions undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
Company Contact:
Intelligent Bio Solutions Inc.
info@ibs.inc
LinkedIn | Twitter
Investor & Media Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
PH: (212) 896-1254
INBS@kcsa.com
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