Feedback PLC Contract Update (8874S)
July 19 2022 - 2:00AM
UK Regulatory
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RNS Number : 8874S
Feedback PLC
19 July 2022
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (as amended), which forms
part of domestic UK law pursuant to the European Union (Withdrawal)
Act 2018. Upon publication of this announcement via a Regulatory
Information Service, this inside information is now considered to
be in the public domain.
Feedback plc
Contract Update
Feedback continues commercial strategy as it departs legacy PACS
contract
Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the
specialist clinical communication company, announces that as part
of its strategy to move the Company's operating model away from low
margin legacy PACS (picture archiving and communication system)
contracts, it is no longer providing PACS services for Royal
Papworth Hospital NHS Foundation Trust ("Trust").
The Company has maintained the Cadran PACS service to support
the Trust during a transitional phase whilst it identified a
replacement provider and will continue to support the migration of
underlying PACS data to the incoming provider, under contract until
January 2023. The potential role of Bleepa at the site remains open
as the Trust embeds with the new provider.
Having historically provided customers with solutions utilising
TexRAD and Cadran, Feedback has evolved its proposition to focus on
flagship product Bleepa, which targets a broader clinical audience
and cross provider opportunities with increasingly visible revenue
streams. Moving away from supplying PACS services will enable the
Company to focus more resources at the growing opportunity for
Bleepa, both domestically and internationally and has been a key
strategic focus for the last two years.
Bleepa now contributes an increasing proportion of total
revenues with growing commercialisation opportunities and routes to
market matching the scalability of its product suite. This includes
CareLocker and BleepaBox - which are providing increased exposure
to the community diagnostic programme and tuberculosis screening
programme in the UK and India respectively. Redirecting internal
resource away from legacy products towards high margin growth
opportunities is essential to delivering greater value for
shareholders and underpins the Company's strategy to move into
larger addressable market opportunities.
Further information on Feedback and its products can be found on
the Company's website:
https://fbkmed.com/feedback-plc/reports-and-presentations/
Enquiries:
Feedback plc +44 (0) 20 3997 7634
Tom Oakley, CEO IR@fbk.com
Anesh Patel, CFO
Panmure Gordon (UK) Limited
(NOMAD and Broker)
Emma Earl/Freddy Crossley (Corporate
Finance)
Rupert Dearden (Corporate Broking) +44 (0)20 7886 2500
Walbrook PR Ltd Tel: 020 7933 8780 or feedbackplc@walbrookpr.com
Paul McManus/Nick Rome 07980 541 893 or 07748 325 236
About Feedback
Feedback plc is a specialist clinical communications business,
with a mission to improve the efficiency and quality of
communications for frontline clinicians and hospitals with a key
focus on building solutions that enhance access to high quality
patient data.
Feedback has developed a toolkit of clinical communications
apps. Its core, regulatory approved product is Bleepa, a
revolutionary medical imaging app enabling remote and secure
communications between frontline clinicians and teams. CareLocker
is an evolutionary GDPR compliant patient-centric cloud
architecture - its proprietary technology enables an easy route to
creation and mobilisation of individual healthcare records. Bleepa
Box is a specialist tool to enable image transfer from remote
settings to the Bleepa platform over mobile networks.
The Company has a number of growth opportunities domestically
and internationally across a range of markets including the NHS,
the veterinary market and private healthcare providers and its
highly scalable Software as a Service ("SaaS")-based revenue model
is expected to provide increasing levels of visibility as the
Company grows its customer base.
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END
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