Business Update
Summary by AI BETAClose X
The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Feedback plc
Business update
- Contract extension and development funding received from QVH, building on existing relationship
- Emerging ICB opportunities
Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the clinical infrastructure specialist, provides the following business and commercial update.
QVH Extension and Development Funding
Following continued local expansion of the pathway programme at QVH, the Company has received a further extension of the existing QVH contract to end of March 2027. This £127k extension is intended to cover the period to the end of the NHS financial year, while discussions at a national and regional level progress with the NHS. NHS England have communicated that they are now expecting to undertake a wider commissioning programme around clinical pathways and elective recovery to start in April 2027, which the Company is positioning for. Additionally, QVH has committed to provide a further £249k, awarded by Surrey and Sussex ICB, to support key product development to improve pathway delivery and scalability through the Bleepa platform, with a view that this will enable some pathways to be adopted more widely across the ICB in the coming months.
As the QVH contract extension invoice is to the end of March 2027 to align with the NHS year end (rather than the anticipated annual renewal), without additional revenue or cash receipts, the Company’s cash runway is currently expected to extend to the end of Q1 2027.
Additionally, the Company is encouraged by a recent independently commissioned review of Bleepa at QVH which has highlighted the significant time and cost saving impacts on the breathlessness and insomnia pathways at QVH as well as potential for wider rollout and scale across ICBs. Feedback believes this further demonstrates that Bleepa is closely aligned with wider NHS strategy and that of regional ICB’s, namely, easing the unsustainable demand on NHS services, long waiting lists and the left shift of care closer to virtual and community settings.
Further Opportunities
The Company is pleased to report increasing commercial engagement across multiple opportunities, including an approach by one of the largest ICBs to explore a multiyear elective transformation opportunity. The scope of work is currently being negotiated and is subject to contract terms being agreed. Whilst there is no certainty that the project will proceed, the scope is likely to involve an initial paid pilot phase with a clinical pathway going live across several providers around the calendar year end with a view that this will both inform and roll into a wider commissioning piece from April 2027, at the start of the next NHS financial year. Due to the scale of the opportunity this programme is likely to be delivered alongside, and formalise relationships with, key delivery partners and is anticipated to lead to equivalent opportunities with other ICBs who can replicate the approach as part of their elective recovery programmes.
Dr Tom Oakley, CEO of Feedback plc, commented: “Despite a challenging trading environment we are encouraged by these emerging opportunities and continuing discussions around the potential for a broader rollout of Bleepa. We believe these opportunities have the potential to bring significant long term value to both shareholders and our NHS customers.”
--Ends--
Enquiries:
|
Feedback plc Tom Oakley, CEO Emma Oswick, CFO |
+44 (0) 20 3997 7634 |
|
|
|
|
Panmure Liberum Limited (NOMAD and Broker) Emma Earl/Mark Rogers (Corporate Finance) Rupert Dearden (Corporate Broking) |
+44 (0)20 7886 2500 |
|
|
|
|
Walbrook PR Ltd; |
Tel: 020 7933 8780 or feedbackplc@walbrookpr.com |
|
Nick Rome/Marcus Ulker |
07748 325 236 or 07867 984 082 |
About Feedback plc
Feedback plc is the strategic partner to unlock productivity in health and care through digital connectivity and asynchronous collaboration. With proven expertise in system integration, we enable teams to work flexibly, share information securely, and deliver care more efficiently.
Bleepa® is an award-winning collaboration platform that improves the quality and productivity of patient pathways enabling health and care organisations to hit targets with their existing clinical workforce. We achieve this by connecting digital infrastructure across systems, enabling asynchronous working, reducing geographic barriers and removing unnecessary appointments.
Bleepa supports the shift from analogue to digital and from hospital to community-based care, by uniting essential data and teams to enhance clinical decision making and enable better coordinated care.
The Company has a number of growth opportunities domestically and internationally across a range of public and private healthcare markets including the NHS. Our 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.
Forward looking statements
Certain statements in this announcement constitute forward-looking statements. Any statement in this announcement that is not a statement of historical fact including, without limitation, those regarding the Company’s future expectations, operations, financial performance, financial condition and business is a forward-looking statement. Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, amongst other factors, changing economic, financial, business or other market conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described in this announcement and the Company undertakes no obligation to update its view of such risks and uncertainties or to update the forward-looking statements contained herein. Nothing in this announcement should be construed as a profit forecast.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 2 days ago City of London Investment Group
- 2 days ago Aberdeen Group plc
- 2 days ago NATWEST GROUP
- 2 days ago Ondo Insurtech
- 2 days ago Banco Santander S.A.