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Feedback begins first Bleepa trial with NHS

Snapshot

  • Has started first pilot study for Bleepa platform with NHS trust
  • Focus now is on software as service-style products (SaaS) 
  • Commercial agreement with US tech firm for Cadran software
MRI scan

Quick facts: Feedback PLC

Price: 0.575 GBX

LSE:FDBK
Market: LSE
Market Cap: £3.1 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.

The group has also launched a new clinical messaging app 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's doing

In mid-November, the company announced that the first platform pilot study for its Bleepa medical communications platform had been initiated with the Pennine Acute Hospital NHS Trust in Manchester.

In January 2020, the firm signed a commercial partnership agreement with tech firm Imaging Engineering to support the installation and refitting of fluoroscopy equipment across the US.

Feedback is now aiming to convert the results of a pilot study of its new app for doctors into “meaningful contracts”.

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 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.

 

What the boss says: Tom Oakley, chief executive 

"During the past six months, we completed the development of our new flagship product, Bleepa.

“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.”

 

Blue Sky 

“We believe that Cadran's innovative features, such as the ability to view clinical-grade medical images flexibly on mobile and personal devices, allow it to be repositioned to meet the needs of an emerging medical communications market, particularly in medical imaging.

"There is huge potential to improve the efficiencies and lives of our doctors and patients alike, through more flexible, secure and accurate tools utilising the highest standards in global mobile communications."

 

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Full interview: Feedback PLC 'on the right trajectory' as it looks to...

Feedback PLC's (LON:FDBK) CEO Tom Oakley speaks to Proactive London's Andrew Scott soon after the release of its interim results to November 2019. Oakley says the big focus for them currently is to convert the results of a pilot study of its new app Bleepa for doctors into “meaningful...

on 26/2/20

4 min read