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Feedback (FDBK) – First sale of TexRAD in China
Feedback plc (FDBK), the medical imaging software company, is pleased to announce the first sale for research purposes of Feedback’s TexRAD texture analysis software in China. Peking Union Medical College Hospital, Beijing, China (‘PUMCH’), has recently purchased the TexRAD software to undertake research studies in cancer and other diseases. This has been made possible via logistical support from GE Healthcare.
PUMCH is one of the most renowned hospitals in the People’s Republic of China. It was founded in 1921 by the China Medical Board in New York under the Rockefeller Foundation and is located in the centre of modern Beijing. PUMCH is committed to delivering state-of-the-art clinical care, innovative scientific research and rigorous medical education and it enjoys a high reputation for its full range of disciplines, leading medical practitioners and cutting-edge technologies. It is also a national referral centre for the diagnosis and therapeutic care of complex and rare disorders.
Dr. Huadan (Danna) Xue, Assistant Professor in the Department of Radiology, PUMCH commented, “We are very excited with the prospects of using the TexRAD imaging research software platform in conjunction with the research and clinical support from GE towards PUMCH, further reinforcing our vision and reputation of being early adopters of new technologies, particularly in the fascinating area of quantitative imaging and its applications in cancer care and other diseases.”
TexRAD research software will extract key heterogeneity information via a novel quantitative texture analysis approach from PUMCH’s cancer imaging datasets. TexRAD has already established itself as a leading and innovative texture analysis software product, currently employed as a research tool in a number of prestigious imaging centres and university hospitals in the western world and recently in other large Asian markets such as South Korea and Japan. Similarly at PUMCH, TexRAD will be assisting to enhance the research output in cancer and other non-cancer imaging applications and helping to identify potential clinical applications to improve care management of patients in the future.
Dr. Balaji Ganeshan, Chief Scientist and New Business Officer at the Company’s subsidiaries TexRAD Ltd and Cambridge Computed Imaging Ltd, commented, “We are delighted to receive this order, working with a leading original equipment manufacturer on the sale and entering the huge Chinese market. We are especially privileged to be supplying PUMCH which is recognized to be the leading hospital in China and working with the Department of Radiology, headed by the internationally renowned Dr Zheng-Yu Jin. We believe this will open up new avenues and opportunities for Feedback in establishing itself and fulfilling its vision as an innovative multi-modality medical imaging software company.”
For further information contact:
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Feedback plc |
Tel: 01954 718072 |
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Simon Barrell / Trevor Brown / Tom Charlton |
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Sanlam Securities UK (Nominated Adviser and Joint Broker) |
Tel: 020 7628 2200 |
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Simon Clements / Virginia Bull |
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Peterhouse Corporate Finance Ltd (Joint Broker) |
Tel: 020 7469 0936 |
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Lucy Williams / Duncan Vasey |
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XAAR – Defying China
XAAR (XAR) specialises in inkjet printing technology and is a world leader in industrial inkjet print heads.
In September 2013 its shares reached an all time high of 1150p and then collapsed to 220p., losing 80% of their value in the 12 months to September 2014. The company took immediate action to overcome the challenges which it faced. The share price began to recover and had nearly doubled by the 26th August 2015 when they touched 450p.
Despite the turbulence which has hit world stock markets since 26th August, especially for companies which had anything to do with China, the shares have continued to rise instead of crashing back with all the others and have steadily risen by 16% over the past week, to 518p . As of yesterday, they were still rising despite the fact that profit before tax for the first half of 2015 fell to 3.7m. compared to 15.3m for the first half of 2014 and 7.8m in the second half. As a sign of confidence in the future Xaar increased its interim dividend to 3.15p
Xaar’s problems were caused by the slowing Chinese property and construction markets – its print heads are used, amongst other things, for putting patterns on ceramic tiles. In 2014 revenue fell by 19% and profit before tax nearly halved, falling from 41.4m to 24.6m. Xaar responded by making a savage attack on costs. 20% of its global headcount went and new products were announced.. The result is that as per plan, the trading position has now been stabilised and a return to growth is expected in 2016.
The shares are in recovery mode and it will be interesting to see if they can continue to defy the China syndrome.
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