Bleepa achieves CE Mark - Raising the bar for medical communication platforms

Interim Results: Significant momentum in creating scalable platform for Bleepa

23/02/21

Bleepa Feedback Medical

We have just announced our unaudited interim results for the six months to 30 November 2020.

During this period, we have focused on advancing Bleepa’s proposition by creating strong platforms for growth with both product enhancement and collaborations. We’ve also recieved industry recognition within key markets and frameworks.

Operational highlights (including post period-end)

  • As of 30 November 2020, 359 Bleepa users across 10 specialties at Royal Oldham Hospital. This is an increase of 274 users since completion of the pilot
  • Wider range of potential revenue streams through broadening market scope
  • Significant progression in developing Bleepa’s offering, scalability and security
  • Attainment of CE mark, confirming use of Bleepa as a Class 1 Medical Device
  • Appointment to NHSx Framework
  • Addition of 3D Imaging offering with Axial3D Partnership
  • Selection for WISH 2020 innovation awards, Digitalhealth.London 2020 Programme & DIT’s virtual event to India
  • Overcoming significant barriers to entry through certification of Cyber Essentials Plus and passing of ISO 27001 ISMS standard
  • Strengthening of the Board through appointment of Philipp Prince as Non-executive director
  • Recruitment of marketing specialists both in the UK and India to expediate commercial strategy
  • Raised £5.27m before expenses in July 2020 to further broaden the Bleepa proposition and reach

Interim Results: Financial summary

  • Loss after tax for the six-month period of £723k (H1 2019: loss £603k). This was due to development and deployment of the Company’s flagship product, Bleepa. Development included an increased investment in software development of £672k (H1 2019: £301k) in line with focus on product enhancement linked to market opportunities
  • Loss before interest, tax and amortisation for the six-month period of £920k (H1 2019: loss £698k)
  • Cash as of 30 November 2020 was £3.78m (30 November 2019: £1.53m).

The Future of Medical Communications

“Feedback has continued to make significant advancements in its transition into the mobile medical communications market – continuing to invest in further augmenting and expanding Bleepa’s offering.

“As the restrictions imposed by the global pandemic subside, we are confident in our ability to build on the strong foundations we have now laid, and to deliver the next key milestones for the Company. Feedback is continuing commercial discussions, and while the pandemic slowed progression of Bleepa within the NHS, we are now seeing improvement in the pace of these talks, as well as a growing interest outside of the NHS and internationally.

“With Bleepa’s unique flexibility, we have been able to make great strides in strengthening its proposition; through achieving the CE mark, adding new 3D imaging technology and gaining industry-standard cyber security certifications, the product now has a broadened and mature offering. Alongside its cloud-based installation scalability, Bleepa is well placed to build a strong presence in numerous markets internationally. Importantly, we have an exciting pipeline of opportunities which has grown significantly on the back of the progress made during the period. Commercialisation is clearly the key priority and we believe that we will make strong headway in this area in the coming months.

“Bleepa has the potential to fundamentally change the way in which clinicians communicate, not only making the lives of those who care for us easier day-to-day, but enabling a route to inclusive interaction within, between and spanning an entire medical provider’s network to make patient information more easily accessible. We believe that Bleepa is the future of medical communications.” Dr Tom Oakley, CEO of Feedback.

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