Feedback PLC (LON:FDBK) shares rose on Tuesday after the firm said it hopes to convert the results of a pilot study of its new app for doctors into “meaningful contracts”.
Bleepa allows medical-grade images to be shared securely on phones and tablets. Early indications from a trial at the Pennine Acute Hospitals NHS Trust have been “positive” with average time to inpatient referral more than halved thanks to the technology.
READ: Feedback inks X-ray systems deal with US firm Imaging Engineering
“We believe that Bleepa has the potential to revolutionise the way clinicians are able to communicate with each other and advance treatment of their patients, quickly,” said chief executive, Dr Tom Oakley.
Bleepa is at the vanguard of Feedback’s transformation as focuses on software as service-style products (SaaS) that generate high recurring revenues.
This explains the firm’s “strategic drive” to promote its Cadran image storage and handling product. The TexRAD system, which detects biomarkers in medical images, will continue to be sold “within the research setting through third-party distributors”, the company said.
Revenues rise by 14%
Revenues for the six months to November 30 were up 14% at £269,000. The loss, which rose to £603,000 from £369,000, reflected investment in the new Bleepa product with over £300,000 devoted to software development. Cash at the period-end was £1.53mln.
"During the past six months, we completed the development of our new flagship product, Bleepa,” said CEO Oakley.
“Following its launch in September at the NHS Expo, we have received significant interest and entered our first Pilot study within an NHS setting, from which early indications show great promise.”
In early trading, Feedback shares were 5.9% higher at 0.90p.
-- Adds share price --