Slide 1: Investor presentation: Results for the 6-month period to 30 November 2023
Investor presentation Results for the 6-month period to 30 November 2023 21 February 2024 Connectivity that liberates healthcare
Slide 2: Disclaimer
Disclaimer The information contained in this confidential document (the “Presentation”) and any information disclosed in any oral presentation thereof has been prepared by Feedback plc (the “Company”). It has not been fully verified and is subject to material updating, revision and further amendment
Slide 3: Company overview
Company overview The frontline clinical technology company, well-positioned to capitalise on digital transformation underway in 1 healthcare in the UK and internationally Growing routes to market with Bleepa and CareLocker solutions delivering secure, compliant clinical workforce 2 tools and data ma
Slide 4: Operational highlights
Continued focus on high-margin growth opportunities and demonstration of technical improvements, time and efficiency savings provided by its products Continued development of Bleepa version 1.6 ahead of imminent release to underpin sales prospects Operational Granted import license for Bleepa as a r
Slide 5: Financial highlights
Financial highlights (all figures in £million) Revenue: £0.44m (H1 2023: £0.58m), down 24% primarily due to the timing Revenue & Sales EBITDA loss of revenue recognition of the QVH pilot contract during the previous period and legacy product contracts reaching end of term. Bleepa-CareLocker contribu
Slide 6: Post period highlights
Second paid contract extension with QVH/Sussex ICS worth £225k – to run until 30 June 2024 until formal procurement is progressed £300k NHS England central funding award for Bleepa pilots in two CDCs – secured due to All-Party Parliamentary Group for Diagnostics report Post period Agreement to pilot
Slide 7: Product overview
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Slide 8: Bleepa
Key features • Bleepa Common view of a patient’s data, securely accessible from any location, bridging the gap between care settings and enabling seamless clinical pathway delivery • Asynchronous collaboration environment enabling efficient clinical input. • Only communication and workflow platform
Slide 9: CareLocker key features
Key features • Patient centric cloud architecture that bridges care settings and follows the patient across provider sites with unparalleled scalability, security and auditability. • Facilitates direct patient access to clinical results, as directed by the clinical team. What this means for care • C
Slide 10: Growth drivers
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Slide 11: Key value proposition by stakeholder
Key value proposition by stakeholder National - Connecting infrastructure across all care settings - Patient choice to attend any location and ability to leverage national specialist teams - Clinical services based around the patient rather than the care setting - Option of centralised national data
Slide 12: Our sales strategy – vertical and horizontal approach
Our sales strategy – vertical and horizontal approach NHS England – 2-3 depts Integrated care systems - 42 NHS trusts - 215 GPs/community – 6,495 Sales team Validation Conversion Scaling 12
Slide 13: NHS – contracts: Acute trusts
Forecast modelling for Bleepa use(1) NHS – contracts Acute trusts Contract value: £107k/annum + CPI User base: 1,234 clinicians Number of specialties: 9 Bleepa user surveys and Bleepa referral response times interviews (1): Sourced from health economic modelling findings by Unity Insights. For furth
Slide 14: NHS – contracts: Acute trusts
NHS – contracts Acute trusts “Bleepa works very well for us as a 24-hour service in our emergency department, to supplement our stretched medical photography team…Any reduction in the time taken to review patients and help to improve their journey through the hospital is crucial when every second co
Slide 15: NHS – contracts: Community diagnostic centres
NHS – contracts Community diagnostic centres Contract Value: £450k/12 months (twice extended at same rate) User base: 152 users and growing, 10 GP practices, 1 CDC and 1 hospital Number of specialties: 1 • Connects 10 GP practices with clinicians at 1 CDC and multi-disciplinary team in 1 hospital •
Slide 16: NHS – contracts: Community diagnostic centres pilots
NHS – contracts Community diagnostic centres Two pilot programmes for community diagnostic centre care pathways funded by a combined award of £300,000. Utilises funds locally disbursed under NHS England’s community diagnostic centre programme. Contract Value: £250k Contract Value: £50k Pilot will co
Slide 17: Cross-provider care: Community diagnostic centres (CDCs)
Cross-provider care: Community diagnostic centres (CDCs) NHS England’s ambition is to bring diagnostic investigations closer to patients to reduce the elective care backlog and improve the patient journey. This will enable patients to have tests such as imaging, bloods and ECGs in high-street locati
Slide 18: Cross-provider care: Integrated care systems (ICSs)
Cross-provider care: Integrated care systems (ICSs) An ICS is a partnership of organisations that come together to plan and deliver joined up health and care services 42 integrated care systems in England now established and operational with a corresponding integrated care board and integrated care
Slide 19: Inquiry into community diagnostic centres
Inquiry into community diagnostic centres APPG for diagnostics report • Report published by the All-Party Parliamentary Group for Diagnostics in January 2024 • Dr Tom Oakley participated in inquiry including two roundtables in 2023 • Report features case study of impact of CDC breathlessness pilot a
Slide 20: India – driving the opportunity for Bleepa
India – driving the opportunity for Bleepa Subsidiary now established in India and Managing Director appointed – Rohit Singh joins from UKIBC where, as a director, he supported UK companies for 12 years to establish themselves in India Focus is on Bleepa – import license granted, providing regulator
Slide 21: Medical Imaging Partnership
Medical Imaging Partnership • Radiology specialist Medical Imaging Partnership (MIP) has agreed to pilot Bleepa-CareLocker to deliver multiple clinical pathways in the UK private healthcare sector • The pilot is expected to start initially with a novel direct access prostate screening service with f
Slide 22: Imaging Engineering LLC
Imaging Engineering LLC • Leveraging legacy technology to generate additional revenues • License to develop products based on Cadran technology for X-ray image capture enabling repair and update to existing rather than new equipment • Large domestic market within the US, approx. 2,000 sites reaching
Slide 23: Outlook
Outlook 1 Growing national and regional recognition our CDC solution as evidenced by the APPG for Diagnostics report Primary focus on cross-provider care delivery in the UK with higher contract values and operational margins – 2 estimated total addressable market of £96m Secondary focus on non-NHS m
Slide 24: Appendices
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Slide 25: H1 2024 – Consolidated income statement
H1 2024 – Consolidated income statement H1 2024 H1 2023 FY 2023 £000 £000 £000 Revenue 437 576 1,025 Cost of sales (36) (37) (84) Gross profit 401 539 941 Other operating expenses (2,536) (2,161) (4,363) Operating loss (2,135) (1,622) (3,422) Net finance income 47 12 48 Loss before taxation (2,088)
Slide 26: H1 2024 – Consolidated balance sheet
H1 2024 – Consolidated balance sheet H1 2024 H1 2023 FY 2023 £000s £000s £ Property, plant and equipment 14 16 15 Intangible assets 3,911 3,499 3,711 Total non-current assets 3,925 3,515 3,726 Trade and other receivables 435 39 225 Corporation tax receivable 151 242 456 Cash and cash equivalents 5,3
Slide 27: H1 2024 – Consolidated cashflow statement
H1 2024 – Consolidated cashflow statement H1 2024 H1 2023 FY 2023 £000s £000s £000s Cash flows from operating activities Loss before tax (2,088) (1,610) (3,374) Adjustments for: Net finance income (47) (12) (48) Depreciation and amortisation 460 396 809 Impairment of intangible assets - - 7 Share ba
Slide 28: ~£10bn annual TAM estimated in core target markets
~£10bn annual TAM estimated in core target markets Estimated total addressable market analysis - annual 1 2 3 4 5 6 7 8 9 North UK EU Private Private ABDM(2) – America National TB NHS trusts NHS - CDCs veterinary veterinary hospitals hospitals health TOTAL veterinary screening sector sector (UK) (In
Slide 29: Cross-provider care: Route to breakeven
Cross-provider care: Route to breakeven • Regional CDC contracts with ICSs represent the clearest route to profitability • Estimated 6% market share required for breakeven – considered achievable • Equivalent to 10 individual CDC contracts (at assumed average pricing), or • Assuming each ICS contain
Slide 30: Recent significant activity in the NHS market
Recent significant activity in the NHS market Cancer target ICO NHS Lanarkshire CQC requirement for APPG for Diagnostics Hewitt Review changes ruling tools & care record • Report calls for • Removal of 2-week • Independent • Reprimand for NHS • Guidance for prioritisation of wait standard in review
Slide 31: Healthcare regulation – confidence in our products
Healthcare regulation – confidence in our products Data governance Medical device regulation Clinical risk • Governed by GDPR • UK: Medical Device • DCB 0129 – clinical risk and • NHS provider = data Directive – UKCA or CE safety standard, risk controller mark analysis and mitigation for • Feedback
Slide 32: Our credentials
Our credentials Standard What Why / what it demonstrates How UKCA Regulatory standard – confirming Allows the product to be sold for the intended Class 1 – self certification of conformance with MHRA that Bleepa displays digital purpose patient images at a standard Development and maintenance of a f
Slide 33: Feedback plc Board
Feedback plc Board Prof Rory Shaw, Non-executive Dr Thomas Oakley, Chief Executive Chairman: Ex senior NHS executive, Officer since February 2019, previously Medical Director of Healthcare UK, Dept Radiologist and Clinical Entrepreneur of International Trade, and consultant Fellow at NHS England. pu
Slide 34: Feedback Medical Ltd management team
Feedback Medical Ltd management team Dr Thomas Oakley, Chief Executive Officer since February 2019, previously Radiologist and Clinical Entrepreneur Fellow at NHS England. Anesh Patel, Chief Financial Mike Hayball, Chief Stephen McAteer, Chief Officer: Chartered Accountant Technology Officer: medica
Slide 35: Company history
Company history 2024 • Won Gold Award for Digital Solutions for Rural Healthcare at IHW Digital Health Awards 2024 in India • Awarded funding for two CDC pathway pilots with Amersham CDC and BOB ICS 2023 • Contract extension with QVH/Sussex ICS for CDC programme • Establishment of Indian subsidiary