Feedback inks collaboration deal with Vertex In Healthcare

10th Jul 2024 14:24

(Sharecast News) - Clinical infrastructure specialist Feedback announced a collaboration agreement with Vertex In Healthcare, a clinical IT firm with a presence in the UK, the UAE, and South Africa, on Wednesday.

The AIM-traded firm said the strategic partnership aimed to combine key technologies and resell each other's products to drive commercial opportunities across multiple markets.

It said the agreement would see Feedback integrate the MedDream viewer into its Bleepa platform, which would allow Bleepa to be marketed directly to radiologists for primary diagnostic reporting, enhancing Feedback's teleradiology offering and expanding its market reach to new territories, particularly the US.

By embedding a viewer with regulatory approval in various international markets, the combined Bleepa-MedDream product would reportedly meet the necessary requirements for direct sales.

While Feedback's primary international focus remained on the growing market opportunity in India, the collaboration opened potential expansion into key markets such as the US and the Middle East.

The collaboration also positioned both Feedback and Vertex to resell each other's products in multiple regions, leveraging each other's established footprints to facilitate rapid and cost-effective market expansion.

Bleepa's value and product differentiation were expected to enhance Vertex's existing solutions, helping grow market share across various customer segments.

Additionally, Vertex would licence the database capabilities of Feedback's legacy Cadran PACS system, now integrated with the MedDream Viewer, to develop a PACS proposition for markets including South Africa and the UK.

"Vertex is a great partner for Feedback - like us it is commercially minded, ambitious and on a clear mission to improve healthcare," said chief executive officer Dr Tom Oakley.

"Our products naturally fit together and create a compelling value proposition to customers, especially those who are increasingly looking for the most streamlined and cost-effective way of procuring the solutions that they need.

"Incorporating the MedDream viewer into Bleepa opens up new opportunities for us, both domestically to radiologists and internationally, allowing us to expand more rapidly if we see opportunities overseas, avoiding some of the difficulties that we had in registering Bleepa as a medical device directly in India."

At 1005 BST, shares in Feedback were up 3.82% at 68p.

Reporting by Josh White for Sharecast.com.