StockMarketWire.com - Feedback saw annual revenues rise by nearly a quarter and revealed that it would add a dedicated, encrypted messaging function to its existing picture archiving and communications system as part of a move to reposition its technology.

For the year ended 31 May 2019, revenues increased 23% to £563,000 driven by new hires and investment in product sales.

The update comes as the company completed the first phase of its strategic review, which had identified an opportunity to upgrade its communication technology.

By incorporating a dedicated, encrypted messaging function to Feedback's existing Cadran technology, which facilitates the review of medical imaging studies by clinicians, the company said it believes it 'can become the only medical communication device on the market capable of sharing clinical grade medical imaging directly from a hospital PACS to mobile devices, ensuring the safe handling of patient data and facilitating a secure means of communication for clinicians across the UK.'

'The Directors believe this new product will also be the only communication tool to be a CE marked medical device,' the company added.

The move marked a pivot from a traditional software sales model towards a software as a service model which was anticipated to generate considerably higher recurring revenues for the Company and lead to a new phase of growth.


At 9:39am: [LON:FDBK] Feedback PLC share price was +0.03p at 0.85p



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