Feedback establishes a platform for growth
Feedback PLC (LON:FDBK) said it is seeing an improvement in the pace of negotiations with the National Health Service over the use of its Bleepa product.
In its interim results statement, the specialist medical imaging technology company said that while the coronavirus (COVID-19) pandemic had slowed the progression of its flagship Bleepa product within the National Health Service (NHS), things are starting to pick up again.
The company told investors it has “an exciting pipeline of opportunities” that has grown significantly on the back of the progress made in the second half of 2020.
The commercialisation of its flagship product is the company’s key priority and it believes it is set to make strong headway in this area in the coming months.
The company said that at the end of the interim reporting period (November 30), there were 359 Bleepa users across 10 specialities at Royal Oldham Hospital, representing an increase of 274 users since the completion of the pilot scheme.
The company ended the period with cash of GBP3.78mln, up from GBP1.53mln a year earlier, after its July fundraising.
Revenue in the six months to the end of November was GBP165,000, compared to GBP269,000 in the same period of 2019.
The loss before tax widened to GBP918,000 from GBP691,000 the previous year.
“Feedback has continued to make significant advancements in its transition into the mobile medical communications market – continuing to invest in further augmenting and expanding Bleepa’s offering,” said Tom Oakley, the chief executive officer of Feedback.
“With Bleepa’s unique flexibility, we have been able to make great strides in strengthening its proposition; through achieving the CE mark, adding new 3D imaging technology and gaining industry-standard cybersecurity certifications, the product now has a broadened and mature offering. Alongside its cloud-based installation scalability, Bleepa is well placed to build a strong presence in numerous markets internationally,” he added.
” Bleepa has the potential to fundamentally change the way in which clinicians communicate, not only making the lives of those who care for us easier day-to-day but enabling a route to inclusive interaction within, between and spanning an entire medical provider’s network to make patient information more easily accessible. We believe that Bleepa is the future of medical communications,” Oakley concluded.