HealthBeacon Deploys its Global Patient Safety Technology Platform across the NHS in the UK and the Pharmaceutical Industry in Ireland, Australia, and New Zealand
Dublin, 23 November 2022: HealthBeacon plc, a leader in devices and software to manage critical and chronic medications, is pleased to announce its Global Patient Safety Platform, a new proprietary software platform to help cancer patients take their medication more safely. This platform has been developed over the last two years in collaboration with the pharmaceutical industry and has been recently approved by regulators in both the UK and Ireland and is scheduled to launch in Australia and New Zealand. The platform is designed to replace a paper-based system to ensure the right people get access to the right drugs and drive down the cost of administration.
The platform creates a new recurring revenue stream for HealthBeacon, where pharmaceutical manufacturers pay a licensing fee for access to the system, which helps them meet their regulatory requirements and ensures access to critical medications. HealthBeacon anticipates the technology will support more than 1,000 patients by the end of 2022.
The technology leverages HealthBeacon's existing patient software platform and its ability to improve clinical processes and access to medications by partnering with the pharmaceutical and healthcare providers. To date more than 800 pharmacies have already adopted the system across Ireland and the UK and 12 pharmaceutical companies have bought licenses to replace their paper-based system with HealthBeacon's streamlined software. This project has been an example of a positive collaboration between innovators, regulators, industry associations and the manufacturers to improve access, quality of care and reduce the cost of administration.
The first drug to be prescribed on the platform is Lenalidomide, used to treat certain cancers. If Lenalidomide is taken during pregnancy, it poses a risk of birth defects. Using a series of electronic checks and balances, HealthBeacon's platform ensures the medication cannot be dispensed until a set of agreed safety protocols have been validated.
Ultimately, the platform reduces the potential for human error associated with traditional prescription methods. It reduces paperwork and streamlines the prescription process for doctors, pharmacists, and pharmaceutical manufacturers, while also making it easier for them to comply with regulatory requirements.
Commenting, HealthBeacon plc co-founder and CTO, Kieran Daly, said: "The Patient Safety Platform is a natural progression for HealthBeacon. Our digital therapeutics systems are designed to boost health outcomes for patients. Our Smart Sharps Bin has been designed to ensure patients take their injectable medication in the most effective way. Now we are using our expertise to design a new software platform ensuring the best outcomes for cancer patients from their medication."
In Ireland, the Patient Safety Platform has been developed in collaboration with four major pharmaceutical manufacturers: Mylan, Teva, Accord and Clonmel Healthcare. These manufacturers have come together to help build a platform that enables them to meet their regulatory obligations to ensure Lenalidomide is tracked and dispensed safely while reducing patient burden.
The platform is being used by the National Health Service (NHS) in the UK, having received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA). Pharmaceutical manufacturers, hospitals and pharmacists have joined the platform in the UK.
In Ireland, the system is approved by the Health Products Regulatory Authority (HPRA) and is the only system of its kind to be whitelisted by the Health Service Executive (HSE), meaning it can directly contact every pharmacy in the country. It is currently being used by 100s of pharmacists to help patient's access this critical medication safely.
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| HealthBeacon: Laurence Flavin
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| Goodbody (Euronext Listing Sponsor and Broker): David Kearney |
+353 (1) 667 0420 |
| Stephen Kane |
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Drury (Public Relations): |
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| Cathal Barry Gavin McLoughlin |
+353 (0) 87 227 9281 +353 (0) 86 035 3749 |
About HealthBeacon
Headquartered in Dublin, HealthBeacon is an Irish digital therapeutics company that develops smart tools for managing medications for patients in the home. The HealthBeacon Injection Care Management System tracks adherence and persistence with medication schedules through the provision of medication management reminders, safe and sustainable sharps disposal devices, educational tools, and artificial intelligence (AI) driven data analytics. Peer reviewed evidence supports a 19% improvement in therapy persistence by patients and up to 26% improvement in adherence to therapy, which improves clinical outcomes and significantly improves efficiency in health systems. The Company has expanded its offering to growth management with the launch of its integrated Smart Scale and oral adherence with the launch of HB Wave which integrates with its existing technology. The Company operates across Europe, North America and the United Kingdom and employs more than 70 people and has obtained more than 30 design and utility patents. The Company's mission is to become the world's leading digital therapeutics platform for patients managing medications in the home.
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