Feedback PLC AGM Statement (2989E)
November 05 2020 - 1:00AM
UK Regulatory
TIDMFDBK
RNS Number : 2989E
Feedback PLC
05 November 2020
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 ("MAR"). With the publication of this announcement,
this information is now considered to be in the public domain.
Feedback plc
AGM Statement
London, 05 November 2020 : Feedback plc (AIM: FDBK, "Feedback"
or the "Company"), the specialist medical imaging technology
company, is pleased to make the following statement ahead of the
Annual General Meeting of the Company being held at 11:00
today:
Following a transformative year during which the Company further
developed its core product, Bleepa - the revolutionary medical
imaging communications app - the Company remains well placed to
create strong revenue streams and further enhance the Bleepa
proposition.
It has already been a busy start to the current year with the
successful GBP5.05m fundraise, and with Bleepa becoming the only
medical imaging product on the NHSx National Communications
Framework with a CE mark as a Class 1 Medical Device. Furthermore,
the recently announced partnership with Axial3D, enabling
clinicians to view and manipulate 3D clinical medical images,
reflects Bleepa's standing within the wider market. This
relationship highlights how Bleepa can leverage a growing user base
via partnerships and collaborations to bring more value to
customers at the same time as diversifying revenue streams.
Importantly, with much of the groundwork now complete, the focus
is to further grow Bleepa's market base and create a strong
platform for revenue growth. To aid this, the Company has
strengthened its marketing team and hired an integration specialist
in order to help increase the speed of roll out.
With a view to scaling the product at pace, improving routes to
market domestically and internationally, and reducing roll-out
costs, the Company has also begun moving from on-premise to
cloud-based installations. Importantly, this will also enable the
Company to better match service demand with server capacity,
improving service uptime.
Operationally, the Company continues to focus on scaling up and
becoming a major player within the global medical imaging market.
Its cash position remains strong at GBP4.4m on 30 September 2020 -
with the Company fully funded to execute its growth strategy for
the current financial year and beyond. The Board is confident in
its ability to deliver on the planned growth, with increased routes
to market expected to create strong future revenue streams.
Professor Rory Shaw, Non-Executive Chairman, added:
"This was an extremely busy year at Feedback as Bleepa
established a market leading customer experience and has set its
stall as a medical imaging communications app of choice. We remain
extremely excited by the significant growth opportunity within
existing and new markets as we further develop functionality and
partnerships, and gain market share."
-Ends-
Enquiries:
Feedback plc +44 (0)1954 718072
Tom Oakley, CEO IR@fbk.com
Lindsay Melvin, CFO
Allenby Capital Limited (Nominated
Adviser)
David Worlidge / Asha Chotai +44 (0)20 3328 5656
Peterhouse Capital Limited (Joint
Broker)
Lucy Williams / Duncan Vasey +44 (0)20 7469 0936
Stanford Capital Partners Limited
(Joint Broker)
Patrick Claridge / John Howes +44 20 3815 8880
Walbrook PR Ltd Tel: 020 7933 8780 or feedbackplc@walbrookpr.com
Paul McManus/Nick Rome/Nicholas 07980 541 893 or 07748 325 236 or
Johnson 07884 664 686
Notes to Editors
Feedback plc (AIM: FDBK) is a medical imaging technology
business. Its core product, Bleepa, is a revolutionary medical
imaging communications app, providing an easy-to-use, high quality
tool to enable remote and secure communications between front-line
clinicians and teams. Importantly, it is the only CE marked medical
imaging communications platform on the NHSx clinical communications
tools framework. Bleepa has unparalleled functionality for everyday
practice and can be accessed from any internet-connected device,
enabling control of patient cases when on the go.
Its highly scalable Software as a Service ("SaaS")-based revenue
model will provide increasing levels of visibility as the Company
grows its customer base. With a growing distribution base and
technology in place, the focus is on leveraging key relationships
in order to drive sales both in the UK and internationally to all
forms of care facilitators. As a fully certified medical device,
Bleepa aims to disrupt the medical imaging communications market
and, importantly, increase the accuracy and speed of diagnosis.
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END
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