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Feedback sees more uptake for Bleepa product

Snapshot

  • CE mark received in June
  • Used in some NHS Trusts during pandemic
  • Now available across the country
MRI scan

Quick facts: Feedback PLC

Price: 1.175 GBX

LSE:FDBK
Market: LSE
Market Cap: £12.54 m
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We believe that Bleepa will accelerate the process of requesting a specialist opinion from colleagues, ultimately resulting in better care for patients, faster

Tom Oakley, chief executive

What Feedback does

Feedback PLC (LON:FDBK), through its trading subsidiary Feedback Medical Limited, is a company specialising in medical imaging technology, such as magnetic resonance imaging (MRI) scans and X-Rays.

The company’s products, TexRAD and CADRAN help radiologists, clinicians, and medical researchers improve their workflows as well as providing insights into diseases such as cancer.

Of late, the group has been focusing on its clinical messaging app, which is called Bleepa.

Feedback’s products

CADRAN

CADRAN is a system that helps users store, manage, and view medical images. It helps doctors access images for diagnosis, treatment planning, and response measurement as well as facilitating knowledge sharing between multi-disciplinary teams.

The CADRAN range consists of four products;

• CADRAN PACS – The Picture Archiving and Communication System (PACS) provides mid-scale departments with a network server, image viewer, and web interface to access images

• Mini PACS – A small-scale system for image storage and management using dedicated servers and workstations. Designed for smaller imaging clinics and remote workers

• Viewer+ - Displays medical images from imaging equipment using a standard desktop PC or laptop with measurement and analysis tools. Designed for convenience use and individuals

• CADRAN Web – allows remote access to images through a web-accessible image library. Can be viewed on desktop PC or laptop

TexRAD

TexRAD is a patented software tool that helps identify biomarkers (naturally occurring characteristics in diseases or other biological manifestations) in medical images that are often invisible to the naked eye.

The technology has a particular significance in oncology, the medical field concerned with the treatment of cancer.

The technology’s first clinical application is TexRAD Lung, which can help reveal information on lung tumours, whereas the other application, TexRAD Research, is used to complement existing infrastructure to help analyse medical image scans.

Bleepa 

Bleepa is an encrypted medical messaging app that can be used on smartphones, tablets and desktops, allowing clinicians to communicate with other team members securely.

The app enables faster clinical decision making between team members, which will improve patient care.

 

How it is doing

In February 2021, Feedback revealed it is seeing an improvement in the pace of negotiations with the National Health Service (NHS) 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 NHS, things are starting to pick up again.

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 £3.78mln, up from £1.53mln a year earlier, after its July fundraising.

Revenue in the six months to the end of November was £165,000, compared with £269,000 in the same period of 2019.

The loss before tax widened to £918,000 from £691,000 the previous year.

In November 2020, Feedback said its Bleepa product had been selected for DigitalHealth London’s 2020 12-month accelerator programme to promote innovative technologies to London National Health Service (NHS) hospitals.

The accelerator aims to speed up the adoption of technology within London's NHS, relieving high pressure on services and empowering patients to manage their health.

In an AGM statement earlier that month, Feedback said it had a positive cash balance of £4.4mln as at the end of September 2020, which it will use to scale up its core product, Bleepa, a medical imaging communications app.

Much of the groundwork now complete, Feedback told investors, and the focus is to further grow Bleepa's market base and create a strong platform for revenue growth. To aid this, the company recently strengthened its marketing team and hired an integration specialist in order to help increase the speed of roll-out.

In a separate announcement, Feedback revealed that Bleepa was been selected as a WISH 2020 Innovation Booster at the World Innovation Summit for Health (WISH) held in Doha, Qatar.

In October, the company said it was teaming up with Axial Medical Printing to add three-dimensional (3D) imaging to Feedback’s flagship Bleepa medical imaging communications platform.

Axial3D uses advanced artificial intelligence (AI) technologies to automatically create 3D reconstructions of individual organs or pathologies. These images will be available to view in the Bleepa platform and can subsequently be turned into 3D printed models in a variety of materials.

In August, Bleepa was awarded a place on the NHSx National Clinical Communication Tool (NCCT) framework, meaning NHS Trusts can buy it by drawing down from a £3mln centralised fund over two years, giving Bleepa national coverage and providing independent validation of the quality and suitability of the platform for frontline delivery.

Feedback said this stamp of approval will allow it to drive sales in other markets.

 

What the boss says: Tom Oakley, chief executive 

"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.

 

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Feedback continue to advance transition into mobile medical communications...

Feedback's (LON:FDBK) Tom Oakley presents their interim results for the six months to 30 November 2020 to Proactive London. He highlights the significant momentum in creating a scalable platform for Bleepa, with the focus during the period on advancing Bleepa’s proposition. Oakley explains...

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