Canada’s bulk orders of COVID-19 vaccines show the federal government’s desire to accelerate its vaccination calendar and protect Canadians as soon as possible. The country is set to receive up to 249,000 doses of the 20 million doses purchased by the government. Around 30,000 doses arrived in Canada on December 13, 2020.
According to Canadian Armed Forces Major General Dany Fortin, who will oversee the logistics of the government’s vaccine distribution effort, the delivery schedule is unfolding as planned. The shipments will be distributed to 14 sites across all provinces, with Quebec likely to be the first province to administer the COVID-19 vaccine.
Largest vaccination campaign
Canada leads the world in terms of vaccine contracts. Bloomberg’s vaccine tracker shows that the country has enough doses for more than 400% of its population. Health Canada’s approval of the COVID-19 vaccine developed by Pfizer and BioNTech on December 9, 2020 paves the way for the largest vaccination campaign in Canada’s history.
Prime Minister Justin Trudeau expects the country to receive 279,000 doses by the end of 2020, and millions more will arrive in early 2021. The Trudeau administration signed contracts with seven vaccine developers and the secured doses of vaccines could reach 414 million.
The federal government will take charge of the process for vaccine distribution. With limited supply initially, the policymakers’ consensus is that the first stage should focus on the most vulnerable to limit deaths. When more vaccines arrive, the second stage should shift to spread prevention.
As per public health guidance, the groups that should get the first vaccine doses are the front-line healthcare workers, long-term care home residents, people over 80 and late 70s, and adults in indigenous communities. Canada targets about three million people in the first few months of rollout, each with two-dose vaccine inoculation.
A fast-rising growth company
WELL Health Technologies (TSX:WELL), a non-COVID vaccine developer, is the TSX‘s fast-rising healthcare stock. The $1.12 billion company owns and operates a portfolio of primary healthcare facilities. Its core business is providing digital electronic medical records (EMR) software services and telehealth services.
The stock is among the top performers in 2020. Its year-to-date gain is a whopping 346%. Had you invested $10,000 on December 31, 2020, your money would be worth $44,551.28 today. Analysts covering WELL Health recommends a buy rating. The price estimate in the next 12 months is $10.75 or a 55% appreciation.
In 2020 alone, WELL Health achieved several milestones that should drive exponential growth. The company has expanded its shareholder base and trading liquidity after graduating from the TSX Venture Exchange to the TSX. The strategic acquisition of companies in the telemedicine sector are ongoing.
Now is the time to take a position in this fast-rising growth company. Telemedicine will continue to be a very hot space in the post-COVID era as the digital transformation of health takes root.
The federal government’s orders for COVID-19 vaccines are staggering. Expect more vaccines to arrive in early 2021. Other developers, not only Pfizer and Moderna, are shipping their vaccines. Prime Minister Trudeau wants to make sure all Canadians are protected from COVID-19.
The vaccination campaign in Canada is starting in December 2020. Based on its immunization timeline, the vaccination of Canada’s population will be complete in one year or December 2021.
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Fool contributor Christopher Liew has no position in any of the stocks mentioned.