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

Results of annual general meeting and fundraise

30/11/21

Bleepa Feedback Medical Feedback PLC

We are pleased to announce that at our annual general meeting (AGM) on Monday 29 November, all resolutions were duly passed. This includes each of the fundraising resolutions relating to the oversubscribed placing and open offer which was announced by the Company on 2 November 2021.

We are also pleased to announce that, in relation to the open offer, which closed for receipt of applications at 11.00 a.m. on 26 November 2021, we received valid applications, including excess applications, from qualifying shareholders for more than twice the number of open offer shares available. 

Accordingly, the Company has raised approximately £11.2 million in aggregate (before expenses) through the issue of 1,599,999,991 new ordinary shares relating to the placing and open offer

You can find out more about the results of the AGM, open offer and issue of equity here

Accelerating revenue growth

“We are delighted with the Company’s continued transformation – with Bleepa™ gaining momentum, securing its first commercial contract and significantly enhancing its offering, routes to market, scalability and security during the last year. Importantly, the rapid progress and significant developments since the period end highlight the scale of opportunity.

“We are now well funded to support accelerated revenue growth. The funds raised will enable Feedback to focus on further developing and rolling out Bleepa and CareLocker at pace, through targeted investment in sales and marketing and allow the Company to explore the NHS Community Diagnostic Centres and Indian tuberculosis opportunities in parallel, diversifying our strategic risk whilst capturing these important and timely opportunities.

“Using part of the proceeds of the Fundraising, the Company is planning to undertake a pilot scheme of the tuberculosis screening solution within some initial sites in India. The Director’s believe that there is potential to generate significant revenues per year from each state that the solution is rolled out in.

“In parallel, the Company is piloting the CDC (Community Diagnostic Centres) solution with Sussex ICS as one of the exemplar sites for the £10 billion CDC initiative recently launched by NHS England to help address the elective care backlog, by bringing diagnostic services out of hospital settings and closer to patients. Forty new CDCs are set to open across England in a range of settings and are expected to begin providing services over the next few months to March 2022. 

“Reinforced with a new patient-centric cloud architecture and internationally recognised accreditations, Feedback is well placed to focus on driving international product deployment across public and private frameworks.

“We would like to thank existing and new shareholders for their support in the Fundraise as we build on the momentum achieved and develop new and exciting routes to market.”

Dr Tom Oakley, CEO