Clinical technology company Feedback (FDBK) has reported positive year-end trading results for the period ending May 31, 2023, with Revenue expected to reach approximately £1.0m, a 70% increase compared to the previous year, primarily driven by strong performance of the Bleepa-CareLocker solutions in the UK.
As of May 31, 2023, cash and cash equivalents are projected to be around £7.3m.
Feedback has successfully extended its contract with Queen Victoria Hospital for the Bleepa-CareLocker Community Diagnostics Centre solution, while actively exploring wider CDC prospects with integrated care systems.
The company's focus on India has yielded positive results, with the deployment of CareLocker at Sampurna Sodani Diagnostic Clinic serving as a reference point for other centers. Feedback has also achieved recertification for key accreditations, enhancing its product development and market access. The latest release of Bleepa v1.5 incorporates advanced features, expanding its value proposition and communication capabilities.
Exciting growth opportunities are anticipated for Feedback, supported by NHS demand and favorable results from the Bleepa-CareLocker CDC pathway.
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A strong set of results from Feedback, which has gained significant traction in the UK through sales of its Bleepa-CareLocker solutions.
At a time when NHS backlogs are at an all-time high and the NHS is facing some of its worst staffing shortages, the Bleepa-CareLocker solution has never been more needed. The pressure of caring for large numbers of patients seriously unwell with Covid-19 has led to waiting lists reaching the highest level since current records began.
Feedback’s standout product CareLocker is a patient-focused cloud data system that stores medical information at an individual patient level. It provides controlled access to specific subsets of a patient's data as it accumulates. This innovative approach improves storage optimisation and reduces costs compared to traditional data storage methods.
Importantly, CareLockers can be implemented gradually, patient by patient, enabling organisations to transition to a cloud architecture as patients enter care pathways. This eliminates the need for large-scale data migrations, therefore making processes more efficient and ultimately improving healthcare outcomes.
Bleepa is a platform designed for clinicians, providing certified and regulated access to clinical results stored in a patient's CareLocker. It facilitates secure and auditable communication among colleagues on a patient-specific level, ensuring seamless integration with the patient's medical record.
Feedback remains in a strong cash position with sufficient funding to deliver on its ambitions, and should continue to see success as agreements translate to sales, with significant potential for upside for investors.
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