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Feedback looks to ramp up marketing in 2019 as it appoints new CEO to trading subsidiary

In February, the firm appointed Dr Tom Oakley, a qualified radiologist and former director of NHS services at telemedicine firm Synergix Health, as the new chief executive of its trading company Feedback Medical
MRI scan
BigPicture
Feedback's technology helps clinicians identify information from medical imaging like MRI scans

• Medical imaging firm offering software to help identify biomarkers as well as storing and managing images

• TexRAD technology can identify biomarkers often invisible to the naked eye

• CADRAN system allows image access to help doctors diagnose and treat diseases


What Feedback does

Feedback PLC (LON:FDBK), through its trading subsidiary Feedback Medical Limited, is a company specialising in medical imaging technology like 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 firm has its headquarters in Cambridge and operates internationally.

Feedback’s products

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 compliment existing infrastructure to help analyse medical image scans.

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

Inflexion points

• In February, the firm appointed Dr Tom Oakley, a qualified radiologist and former director of NHS services at telemedicine firm Synergix Health, as the new chief executive of Feedback Medical

• The company signed an agreement in Janaury with software development partner Future Processing to enhance their software development capability as well as distribute relevant Future Processing imaging analysis products, which according to Feedback chairman Alastair Riddell would earn the firm a “very healthy double-digit commission''

• In the first half of its fiscal year, Feedback saw a sharp increase in invoiced sales, which jumped 22% to £271,000 in the six months to 30 November 2018

Blue Sky

Speaking to Proactive in January, Riddell said that going forward the firm was keen to ramp up the sales and marketing for CADRAN, which is its higher margin product.

“We have a very high quality company and high quality products, and importantly we have an installed base of 60 very prestigious institutions around the world. We are now ready to invest in our products to grow market share”.

Commenting on the appointing of the new CEO Tom Oakley, Riddell said that the new exec’s “proven track record in leading and developing innovative medical products, and his deep understanding of the NHS will be essential in driving growth for both TexRAD and Cadran”.

The group is also in ongoing discussions with various medical imaging software companies and service providers to partner with and integrate its TexRAD Lung product within their platforms and potentially sell the software globally.

With shares trading at around 1.3p as of 21 February, Feedback carries a market cap of £4.76mln.



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