REG - HealthBeacon PLC HealthBeacon - HBCN - Appointment of Interim Examiner
27/10/2023 14:45
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RNS Number : 5938R HealthBeacon PLC 27 October 2023
Presentation of Petition for Examinership and Appointment of Interim Examiner
Dublin, 27 October 2023. The board of Healthbeacon plc ("Healthbeacon" or
the "Company") announces that today it presented a petition under Chapter 10
of the Companies Acts 2014 seeking to have the protection of the Court
afforded to it and the appointment of an Examiner to investigate and seek to
formulate a scheme of arrangement for the survival of the Company as a going
Concern.
At a subsequent Court Hearing held earlier today Shane McCarthy of KPMG was
appointed as Interim Examiner to the Company pending the full hearing of the
petition on 27(th) October 2023.
The Board believes that the Company can stabilise, recover and emerge from
this process as a going concern with the resultant preservation of jobs and
will work closely with the Examiner throughout the process.
As part of the process, the Company has entered into a funding agreement with
Hamilton Beach Brands Inc. under which Hamilton Beach Brands Inc. has
committed to funding the working capital requirements of the Company for the
period while it is under the protection of the Court up to an amount of
€1,850,000.
The Company's shares will remain suspended from Euronext Growth operated by
Euronext Growth Dublin pending clarification of its financial position.
-Ends-
Enquiries: Investor.Relations@HealthBeacon.com
(mailto:Investor.Relations@HealthBeacon.com)
HealthBeacon:
Rebecca Shanahan
Lar Malone
Goodbody (Euronext Listing Sponsor and Broker): +353 (1) 667 0420
Finbarr Griffin
Drury (Public Relations):
Cathal Barry +353 (0) 87 227 9281
Gavin McLoughlin +353 (0) 86 035 3749
About HealthBeacon
Headquartered in Dublin, HealthBeacon is an Irish digital therapeutics company
that develops smart tools for managing medications for patients in the home.
The HealthBeacon Injection Care Management System tracks adherence and
persistence with medication schedules through the provision of medication
management reminders, safe and sustainable sharps disposal devices,
educational tools, and artificial intelligence (AI) driven data analytics.
Peer reviewed evidence supports a 19% improvement in therapy persistence by
patients and up to 26% improvement in adherence to therapy, which improves
clinical outcomes and significantly improves efficiency in health systems. The
Company has expanded its offering to growth management with the launch of its
integrated Smart Scale and oral adherence with the launch of HB Wave which
integrates with its existing technology. The Company operates across Europe,
North America and the United Kingdom and employs more than 70 people and has
obtained more than 30 design and utility patents. The Company's mission is to
become the world's leading digital therapeutics platform for patients managing
medications in the home.
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