REG - Feedback PLC - Collaboration Agreement

FeedbackAnnouncement

19/09/2024 07:00

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RNS Number : 7696E  Feedback PLC  19 September 2024

Feedback plc

 

Feedback signs collaboration agreement with a provider of primary care
solutions

 

Feedback plc ("Feedback" or the "Company"), has signed a collaboration
agreement with a provider of primary care solutions to explore the
opportunities for a novel Neighborhood Diagnostics Solution.

 

The intention is to explore creating a solution that combines the partners'
technology and Bleepa to streamline NHS diagnostic and pathway referrals
between primary care, Community Diagnostic Centres (CDCs) and secondary care.
It is envisaged the solution will also enable some diagnostic procedures to be
referred into community settings such as pharmacy or other diagnostic
facilities, creating additional diagnostic capacity to support NHS waitlist
recovery.

 

The parties intend to pilot the solution before pursuing broader national
opportunities for contracts. Pilot conversations with customer sites are
already underway. A pilot will seek to demonstrate both the continued
reduction in outpatient appointment requirement through the combined platform,
further reduction in patient wait times through an optimised GP referral
process and also the ability to scale the solution at pace to multiple GP
practices simultaneously.

 

The collaboration provides a route to rapidly scale the Bleepa solution and
pathway approach, leveraging the existing footprint of the party.

 

The Company estimates that over 190m diagnostic tests per year could be
redirected to a pharmacy setting. If taken to a national scale this
opportunity could represent an estimated total addressable market of £382m
annually with further opportunities for potential international expansion.
Commercial revenue from this potential opportunity remains subject to, inter
alia, successful pilots and commercial agreement between the parties.

 

 

Dr Tom Oakley, CEO, Feedback plc said: "This collaboration aligns to the
Secretary of State's vision to move care out of traditional acute provider
settings and into the community, closer to patients. If successful it will
provide additional capacity to the NHS and help to overcome some of the
difficulties being faced by CDCs, such as recruitment challenges, by enabling
redirection to fully staffed facilities. It will also offer patients' choice
and the convenience of attending their local high street for routine NHS
investigations with, we believe, shorter wait times.

 

"Lord Darzi's paper, released on Thursday 12(th) September, calls directly for
this solution. Given the impact that the combined product can deliver and the
ability to leverage our partners existing footprint to scale the solution the
Company believes that we have a huge opportunity to support the new model of
the NHS under the new Labour Administration."

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK law by virtue of the
European Union (Withdrawal) Act 2018.

 

--Ends--

Enquiries:

 

 Feedback plc                                                +44 (0) 20 3997 7634

 Tom Oakley, CEO                                             IR@fbk.com (mailto:IR@fbk.com)

 Anesh Patel, CFO

 Panmure Liberum Limited (NOMAD and Broker)                  +44 (0)20 7886 2500

 Emma Earl/Freddy Crossley/Mark Rogers (Corporate Finance)

 Rupert Dearden (Corporate Broking)

 Walbrook PR Ltd;                                            Tel: 020 7933 8780 or feedbackplc@walbrookpr.com
                                                             (mailto:feedbackplc@walbrookpr.com)
 Nick Rome/Joe Walker                                        07748 325 236 or 07407 020 470

 

 

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, with greater connectivity
across organisations.

 

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.

 

 

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