HealthBeacon and Hamilton Beach Brands Inc. expand partnership to include the management of HealthBeacon's USA supply chain.
16th June 2023: HealthBeacon and Hamilton Beach have expanded their partnership to include the management of HealthBeacon's supply chain for its Smart Sharps Bin Technology for the USA. This expanded partnership will allow HealthBeacon to leverage Hamilton Beach's supply chain, distribution and procurement capabilities to produce and distribute its connected health devices into homes across the USA.
HealthBeacon has been successful over the last year in acquiring clients including large US Specialty Pharmacies, Pharmaceutical Manufacturers and Clinical Groups and will be rapidly scaling its US business over the next 12 months.
This expanded agreement will reduce the cost of supply and distribution for HealthBeacon's technology, prepare the organization for scale, support positive working capital movement and accelerate the company's path to profitability.
In 2021, HealthBeacon and Hamilton Beach entered their strategic partnership to provide a smart Injection Care Management System in the USA. The collaboration is part of Hamilton Beach's strategy to expand its focus on the large and fast-growing home health and wellness market and build its Hamilton Beach Health brand. Hamilton Beach has been a leading provider of small appliances for more than 100 years and the Hamilton Beach brand is one of the most recognized and trusted brands in North America.
HealthBeacon's Smart Sharp Bin is the leading injection adherence device for patients that self-administer medications in the home setting. Over 10 million Americans depend on medication delivered by injection in the home to treat chronic conditions such as Rheumatoid Arthritis, Crohn's Disease, Diabetes, Severe Asthma, Rare Disorders and Obesity. HealthBeacon is on track to launch its technology through Specialty Pharmacy with a major global injectable brand and this expanded deal with Hamilton Beach will support the scaling of its offering across the USA.
ENDS
Enquiries:
HealthBeacon:
Jim Joyce investorrelations@healthbeacon.com
Lar Malone
Goodbody (Euronext Listing Sponsor and Broker):
David Kearney +353 (1) 667 0420
Stephen Kane
Drury (Public Relations):
Cathal Barry +353 (0) 87 227 9281
Gavin McLoughlin +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.
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.