FDBK Feedback Plc

Feedback plc

Vertex In Healthcare collaboration to further international expansion

Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the clinical infrastructure specialist, announces a collaboration agreement ("Agreement") with Vertex In Healthcare ("Vertex"), a specialist clinical IT firm with offices in the UK, UAE and South Africa, to combine key technologies and resell each other's products with a view to driving commercial opportunities in multiple markets. The Agreement enables the companies to work together and outlines the key terms which will form the basis of definitive commercial agreements for multiple collaborations.

Broadened product functionality to strengthen global reach

Vertex is the UK registered reseller of the MedDream medical image viewer, an advanced diagnostics web viewer manufactured by UAB Softneta, which has existing regulatory approval (FDA Cleared and CE Marked) in a number of territories including the USA, Middle East and Europe.

The Agreement will enable Feedback to incorporate the MedDream viewer into Bleepa, enabling Bleepa to be sold directly to Radiologists for primary diagnostic reporting services, strengthening the Company's teleradiology offering and expanding the reach of the product to new territories such as the USA.

Embedding a viewer with existing regulatory approval in multiple international territories will enable the combined Bleepa/MedDream product to meet the regulatory requirements to be sold directly into these markets. Although the Company's primary international focus remains on its growing opportunity in India, this collaboration gives the Company the potential to expand into a number of key international territories as opportunities present themselves, most notably in the USA and Middle East.

The Agreement will position Feedback and Vertex to resell each other's products in multiple territories, allowing both entities to expand more rapidly and cost effectively into regions where the other has an existing footprint. Bleepa offers considerable value and product differentiation to Vertex's existing solutions in their current markets and will enable them to grow market share across multiple customer segments.

Opportunity to drive revenues from Cadran

As part of the Agreement, Vertex will licence the database capabilities of Feedback's legacy picture archiving communication system Cadran PACS, now with the MedDream Viewer, which will allow it to build a PACS proposition that will initially be sold in South Africa and other international markets including the UK, where it sells PACS. This is another example of the Company's strategy to generate licencing royalties from its legacy products.

The Agreement covers a number of confidential commercial terms depending on the specific collaborative arrangement. Although no minimum targets are required, both companies are motivated to achieve high levels of commercialisation as a result of this Agreement.

Dr Tom Oakley, CEO Feedback plc said: "Vertex is a great partner for Feedback. Like us it is commercially minded, ambitious and on a clear mission to improve healthcare. Our products naturally fit together and create a compelling value proposition to customers, especially those who are increasingly looking for the most streamlined and cost-effective way of procuring the solutions that they need. Incorporating the MedDream viewer into Bleepa opens up new opportunities for us, both domestically to Radiologists and internationally, allowing us to expand more rapidly if we see opportunities overseas, avoiding some of the difficulties that we had in registering Bleepa as a medical device directly in India."

Chris Goldie, CEO of Vertex In Healthcare said: "Bleepa is a fantastic tool that presents a real value add to our customers and will help us to differentiate ourselves in the market. The addition of Cadran PACS to our portfolio will allow us to offer a full product suite to customers, making us the go-to supplier for a complete hospital IT solutions. We are excited about the potential of this partnership and look forward to growing together."

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About Feedback

Feedback plc helps clinical teams to make better decisions faster for patients. We design products that enhance clinician access to patient data and to their colleagues. Our unique approach centres around individual patient episodes, into which we pull relevant clinical data from hospital systems and around which we build remote clinical teams for collaboration. As a result, we produce a digital infrastructure that makes patient data available to clinicians in multiple settings, in a format that enables them to meaningfully interact with it, providing flexibility to clinicians and free movement of patients between provider settings - clinicians can practice from anywhere and patients can attend any care provider for treatment. 

Our products Bleepa and CareLocker work together to deliver unparalleled value to our customers. Bleepa is our application layer and sits on top of CareLocker as our data layer. Bleepa is a clinician facing platform that displays clinical results from a patient's CareLocker at a certified and regulated quality, that is suitable for clinical use and enables dialogue on a patient-by-patient basis with colleagues through a secure, auditable chat interface that links back to the patient medical record. The CareLocker data storage model is built around the patient. Our vision is one where relevant clinical data is always available to the patient as well as to any care setting that they may attend - a federated data architecture with the patient as the tenant.  

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 model is expected to provide increasing levels of revenue visibility as the Company grows its customer base.