Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
Well, from reading the results, there are clearly very exciting opportunities ahead, which will increase revenues substantially. The recent CDC contract gives a taste of this, and if what Tom says below is true, then more will surely follow in the coming months:
"Our patient-centric approach combines with our credentials as a medical device manufacturer to give us a truly unique market position. We are the only healthcare supplier to deliver a patient-centric digital infrastructure within a regulatory compliant technology product for clinical communication. Digital medical images must be displayed within a medical-device-certified image viewer if they are to be used for a diagnostic purpose and, without images, clinical case discussion is ill informed and incomplete. This makes us the only tool suitable for facilitating a full diagnostic care pathway across provider settings as these pathways must include medical images. "
"2022 was a crucial year for the Company as we recognised the initial success of our new strategic direction and the growth in Bleepa sales, continuing the move away from lower margin legacy products. Looking forward, we are now well positioned to address a number of at scale market opportunities and are sufficiently funded to deliver against them. We look forward to building on the momentum generated during the period and delivering further growth in the year ahead.
What is different in my view, is that Revenue is being driven by Product Sales, and not Licencee/Royalty payments. Since the aquisition and commissioning of the DMF/DMT lines, sales are visibly increasing, as are revenues, with revenue estimated to double next year. Additionally, Cap-XX now have the exclusive rights to sell the Ioxus supercapacitor modules, thus expanding CAP-XX's addressable markets. Not forgetting the Lithium Ion Capacitor Hybrid Supercapacitors which has also added to their portfoilio of products. And then there is the fact that CAP-XX
has now secured third party litigation funding to cover legal fees in FY23 and "the company remains confident about
favourable outcomes of the AVX and Maxwell/Tesla litigation."
Hi TDM, well we know from the July Trading Update that:
"Product sales are up 39% by value on the previous year and total revenue up 31% on the previous year at A$5.6m." and next year is estimated to be nearly double this...!
"The Board is encouraged by the outlook for FY23 and beyond and expects to see continued strong growth in product sales. This growth is being driven by increasing customer demand for DMF and DMT products, cylindrical supercapacitors and traditional supercapacitor products made in Malaysia. In addition new products, such as LICs together with the expansion of our distribution channels are expected to increase sales. "
Good to see Tom will be engaging with us investors next week. Should be very interesting!
Interesting to note that in the Interim Presentation of the 10th Feb. this year, Feedback stated that they were in discussions with 9 Community Diagnostic Centers. That was back in February, so one would expect this number to have increased, especially with the positive feedback from the Sussex ICS.
From the presentation regarding CDCs:
40 new CDCs set to open across England in a range of settings from local shopping centres to football stadiums
£350 million investment from government to provide around 2.8 million scans in the first full year of operation
Pilot scheme underway with Sussex ICS, on track to be operational by March 2022
Ultimate penetration of three hubs per 1 million population, circa 150 sites providing an estimated annual TAM of c.£93 million.
So with the average CDC contract being £0.6 million, positive results from Sussex, in discussions with a number of other CDCs, the potential for rapid revenue growth is clearly visible.
As Tom mentioned in the recent RNS: "the deployment of Feedback’s product suite in the Sussex ICS is intended to be used as a blueprint model for future CDC digital infrastructure models across the UK."
“Together we have demonstrated that CDCs can be used to successfully deliver cross-provider symptom-based diagnostic pathways that transform the patient journey within the NHS and we expect to be able to show a meaningful impact on patient waiting lists as a result. ICSs need to adopt a symptom-based pathway approach to CDCs if they are going to deliver the expected impact on cancer and elective care waiting times. This pilot is the first example in the country of how this can be delivered and our digital infrastructure is an essential component of delivering it.”
There is a new CDC opening in Oldham this year, maybe a contender for Bleepa/Carelocker based on Feedback's relationship with the Northern Care Alliance?
https://www.northerncarealliance.nhs.uk/patient-information/community-diagnostic-centres-cdcs
Feedback CEO discusses the extension of Sussex Health and Care Partnership pilot:
https://www.proactiveinvestors.co.uk/companies/news/991897/feedback-ceo-discusses-the-extension-of-sussex-health-and-care-partnership-pilot-991897.html
No problem LeoBoy, but I'm there's a good chance of more news to come this month.
The partnership with Qure.ai was announced a year ago next week: from the release:
"The companies are also actively looking at opportunities in the UK following Qure.ai’s appointment to the NHSx AI Award programme. Given the breadth of capabilities of both products, there are applications for the solutions in multiple care settings."
“We are delighted to be working with Qure.ai; …this is only the beginning to forging a pathway for a new global regime of diagnostic testing and screening. The combination of Qure.ai’s AI reporting capabilities through Bleepa’s instant and secure communications platform has the potential to provide timely, efficient and cost-effective care across a number of clinical settings.
“We are particularly excited to be working on screening for TB and to help deliver this to even the remotest of locations. We have the potential here to build true access to healthcare for all in India. Although we are looking at India initially, Qure.ai are a great partner and their technologies hold just as much benefit here in the UK and we are excited to explore a number of opportunities for the technologies within the NHS and UK private market. ”
Dr Tom Oakley, CEO, Feedback Medical
“We’re happy to partner with Feedback to enable remote and secure communications between frontline clinicians and their teams. Together, our solutions help improve coordination and communication to deliver quality diagnosis. Apart from TB, our technology detects 29 other abnormalities on chest X-rays. We plan to expand our offerings to the UK and other parts of the world to improve lung health diagnosis.”
Prashant Warier, CEO and co-founder, Qure.ai
I'm not sure that the penny has dropped yet regarding this announcement;
"This pilot is the first example in the country of how this can be delivered and our digital infrastructure is an essential component of delivering it."
Bleepa is the only CE/UKCA-accredited communications platform on the NHSX clinical communications framework, if the results from this pilot prove cost and time savings for patient referals and administration, there is no reason why it shouldn't be adopted by othe CDCs, and with contract values of £0.5 Million per CDH, this is a huge potential Revenue stream for Feedback.
And then there's India...!!!
New centres will provide quicker diagnoses to patients – a step forward in the government’s plan to roll out 160 centres by 2025.
https://www.gov.uk/government/news/7-new-community-diagnostic-centres-to-offer-more-patients-life-saving-checks
Very good news, and a sizeable contract £450,000 at a discounted rate. Times this by the 40 CDH planned and Revenue soon starts adding up!
QVH in Sussex is one of the UK's exemplar CDC sites and the first to deliver end-to-end symptom-based pathways through the CDC programme. As previously announced, the deployment of Feedback's product suite in the Sussex ICS is intended to be used as a blueprint model for future CDC digital infrastructure models across the UK.
"This pilot is the first example in the country of how this can be delivered and our digital infrastructure is an essential component of delivering it."
Dr Tom Oakley, CEO of Feedback, said: "QVH and the broader Sussex team have been great partners in delivering this end-to-end clinical solution. This contract recognises the initial stage of our work together and enables us to proceed to a more formal working arrangement, pending a successful procurement exercise.
Together we have demonstrated that CDCs can be used to successfully deliver cross-provider symptom-based diagnostic pathways that transform the patient journey within the NHS and we expect to be able to show a meaningful impact on patient waiting lists as a result. ICSs need to adopt a symptom-based pathway approach to CDCs if they are going to deliver the expected impact on cancer and elective care waiting times. This pilot is the first example in the country of how this can be delivered and our digital infrastructure is an essential component of delivering it."
Should be an RNS on Monday?
In exchange for CAP-XX agreeing to drop all further action, SPM has granted CAP-XX exclusive rights to sell the Ioxus supercapacitor modules and cells outside the USA, Canada and Japan, and to a limited number of house accounts. These modules and cells will be sold under the CAP-XX brand.
This agreement opens up huge potential markets, previously untapped by them, and they have exclusivity outside of the U.S.! 22 additional products to add to their offering, Good for revenues.
The large, powerful Ioxus supercapacitor modules are designed for power management in demanding microgrid applications such as transportation subsystems, engine start modules, regen energy capture, grid/power correction, Uninterruptible Power Supply (UPS)/ride through power, wind turbine pitch control and hybrid energy storage. CAP-XX will sell all 22 of Ioxus' customer-configurable modules, under the CAP-XX brand.
Interesting to see that these units are manufacture in the U.S. I wasn't aware that Cap XX manufactured here?
https://www.cap-xx.com/wp-content/uploads/2022/07/CAPmod-Data-Sheet-07-06-22.pdf
From 10 years ago but an interesting read. These things take time to incorporate in the automotive sector, so maybe we are nearing adoption.
https://www.greencarcongress.com/2012/03/capxx-20120314.html
Good spot Man! Would suggest that they have both customer interest and manufacturing capacity, as they have not marketed theses products so prominently on the website before. A signifacant development I think.