Feedback Regulatory News (FDBK)

Feedback plc

Feedback signs collaboration agreement with a provider of primary care solutions

Feedback plc ("Feedback" or the "Company"), has signed a collaboration agreement with a provider of primary care solutions to explore the opportunities for a novel Neighborhood Diagnostics Solution.

The intention is to explore creating a solution that combines the partners' technology and Bleepa to streamline NHS diagnostic and pathway referrals between primary care, Community Diagnostic Centres (CDCs) and secondary care. It is envisaged the solution will also enable some diagnostic procedures to be referred into community settings such as pharmacy or other diagnostic facilities, creating additional diagnostic capacity to support NHS waitlist recovery.

The parties intend to pilot the solution before pursuing broader national opportunities for contracts. Pilot conversations with customer sites are already underway. A pilot will seek to demonstrate both the continued reduction in outpatient appointment requirement through the combined platform, further reduction in patient wait times through an optimised GP referral process and also the ability to scale the solution at pace to multiple GP practices simultaneously.

The collaboration provides a route to rapidly scale the Bleepa solution and pathway approach, leveraging the existing footprint of the party.

The Company estimates that over 190m diagnostic tests per year could be redirected to a pharmacy setting. If taken to a national scale this opportunity could represent an estimated total addressable market of £382m annually with further opportunities for potential international expansion. Commercial revenue from this potential opportunity remains subject to, inter alia, successful pilots and commercial agreement between the parties.

Dr Tom Oakley, CEO, Feedback plc said: "This collaboration aligns to the Secretary of State's vision to move care out of traditional acute provider settings and into the community, closer to patients. If successful it will provide additional capacity to the NHS and help to overcome some of the difficulties being faced by CDCs, such as recruitment challenges, by enabling redirection to fully staffed facilities. It will also offer patients' choice and the convenience of attending their local high street for routine NHS investigations with, we believe, shorter wait times.

"Lord Darzi's paper, released on Thursday 12th September, calls directly for this solution. Given the impact that the combined product can deliver and the ability to leverage our partners existing footprint to scale the solution the Company believes that we have a huge opportunity to support the new model of the NHS under the new Labour Administration."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018.

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About Feedback

Feedback plc helps clinical teams to make better decisions faster for patients. We design products that enhance clinician access to patient data and to their colleagues. Our unique approach centres around individual patient episodes, into which we pull relevant clinical data from hospital systems and around which we build remote clinical teams for collaboration. As a result, we produce a digital infrastructure that makes patient data available to clinicians in multiple settings, in a format that enables them to meaningfully interact with it, providing flexibility to clinicians and free movement of patients between provider settings - clinicians can practice from anywhere and patients can attend any care provider for treatment, with greater connectivity across organisations.

Our products Bleepa® and CareLocker® work together to deliver unparalleled value to our customers. Bleepa® is our application layer and sits on top of CareLocker® as our data layer. Bleepa® is a clinician facing platform that displays clinical results from a patient's CareLocker® at a certified and regulated quality, that is suitable for clinical use and enables dialogue on a patient-by-patient basis with colleagues through a secure, auditable chat interface that links back to the patient medical record. The CareLocker® data storage model is built around the patient. Our vision is one where relevant clinical data is always available to the patient as well as to any care setting that they may attend - a federated data architecture with the patient as the tenant.

The Company has a number of growth opportunities domestically and internationally across a range of markets including the NHS, the veterinary market and private healthcare providers and its highly scalable Software as a Service ("SaaS")-based model is expected to provide increasing levels of revenue visibility as the Company grows its customer base.