25 April 2018
Feedback plc
("Feedback" or the "Company")
Distribution agreement with GE Healthcare
Cambridge, UK - 25 April 2018: Feedback plc ("Feedback" or the "Company") (AIM: FDBK), the specialist medical imaging technology company, announces a software licence and distribution agreement with General Electric Healthcare (GEHC) for TexRAD®; the Company's patented quantitative image texture analysis technology for diagnostic radiological scans.
Feedback's subsidiary company, Feedback Medical Limited (formally Cambridge Computed Imaging Ltd) has entered an agreement with GEHC including GEHC Affiliates worldwide. The agreement grants non-exclusive global rights for GEHC to offer TexRAD texture analysis software for medical imaging research applications.
The structure of the agreement is designed to allow flexibility within local markets to ensure that customer needs are met, enabling GEHC to tailor the TexRAD research software to fulfil requests for equipment, software and services. India will be the first market where TexRAD will be offered under this agreement by Wipro - GE Healthcare India. The relationship with India has been founded by business development activities led by Dr Balaji Ganeshan (Director of New Business, Feedback) with participation at key conferences/meetings and healthcare trade mission by supported by UK Department of International Trade. These led to detailed discussions over the last year with GEHC about developing market opportunities leading to the successful completion of the Agreement.
TexRAD Research is currently installed in over 40 of the world's leading research institutions across Europe, North America, Asia and Australasia. The development of sales and customer engagement in India via GEHC will build on the strong foundations of Feedback's existing customer base. Feedback will also be working with GEHC affiliates to identify further territories where TexRAD can enhance the GEHC portfolio.
David Crabb, Chief Executive Officer of Feedback plc, said: "We are delighted to be working with GE Healthcare as a major provider of medical imaging equipment and services in India, demonstrated by their commitment and investment in this market. This global distribution agreement will further our international expansion, ensuring that our technology continues to be used by the world's leading institutions to expedite research in this important field."
Ian McLellan, Commercial Director at CCI, added: "The development of this agreement allows both parties to better respond to local customer needs and enhance awareness of TexRAD to enhance medical imaging research. We are pleased to be further supporting the rapidly developing imaging expertise and healthcare provision within India."
Notes to editors
About TexRAD® technology
TexRAD is the Company's patented quantitative image texture analysis technology for diagnostic radiological scans. The technology has the potential to assist clinicians in diagnosis, prognosis and treatment of patients with cancer, or other disease indications, and is currently installed in over 40 of the world's leading research institutions across Europe, North America, Asia and Australasia. By analysing the texture features in computerised tomography (CT) scans, magnetic resonance images (MRI) and positron emission tomography scans (PET/CT), TexRAD's quantitative imaging capabilities provide clinicians with additional, visually imperceptible information to make better decisions in order to improve patient outcomes.
TexRAD research to date has shown great potential in many different oncological and non-oncological sites. For example, papers presented at RSNA 2017 focused on liver, pancreatic, kidney, cervical, oral, genitourinary, head & neck, thyroid, neuroendocrine and endometrial cancers, as well as gastrointestinal stromal tumours, gliomas, thymic-epithelial neoplasms and carotid-plaques. On 20 November 2017, Feedback announced the CE marked release of TexRAD Lung, a "software only" Class 1 medical device, to help advance lung cancer diagnosis. Further information on the TexRAD technology can be found at www.texrad.com.
About Feedback plc
Feedback plc is a specialist medical imaging technology company. It develops software and systems that provide innovative techniques and improved workflows for practitioners involved in medical research and treating patients. TexRAD®, the Company's patented quantitative image texture analysis technology, has the potential to assist clinicians in diagnosis, prognosis and treatment of patients with cancer and is currently installed in over 40 of the world's leading research institutions across Europe, North America, Asia and Australasia. The Cadran platform provides a suite of medical imaging tools for decision support. The Cadran range includes the picture archiving communication system (PACS) to provide decision support for scan analysis, diagnostic workstations which provide secure remote access to view scans on demand, and products to securely share and transport patient data. Visit www.fbk.com.
For further information, please contact:
Feedback plc David Crabb, Chief Executive Officer Lara Mott, Investor Relations |
Tel: 01954 718072 [email protected] |
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