William Beckett, Hip Impact Protection, at "Journeys of Health-Tech Innovation" Nov 30th 2015
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William Beckett, Hip Impact Protection - slides from Journeys of Health-Tech Innovation: Products to Market
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William Beckett, Hip Impact Protection, at "Journeys of Health-Tech Innovation" Nov 30th 2015
- 3. 3 International Distribution of Fall-Safe hip protectors NHS & Lloyds Betterlife 33,000 sold in 3 years
- 5. 5
- 6. 6 Oldham CCG (Clinical Commissioning Group) • 33,000 people >65 • 8,700 serious falls in 2014 • 211 broke a hip • Cost of each repair and rehab. = >£20,000 • Total cost = £4.2m • Supplying ‘all’ fallers with Fall-Safe Assist @£250 = £2.2m • Most had > 1 fall, so actual cost would be half = c. £1m 6 • There are 210 CCGs in England
- 7. GLOBAL BURDEN OF DISEASE REPORT 2013 WESTERN EUROPE CENTRAL EUROPE3 2 YEARS LIVING WITH DISEASE RELATIVE PLACINGS FOR FALLS YLDs 1st = worst
- 8. Fall-Safe® Fall-Safe Assist Fall-Safe Assist Falls DetectionAlarm Call Hip Protection Real-Time Gait Analysis Tunstall pendant Functionality Cost Low High Low High SafeHip HipSaver Posey Tunstall ivi pendant Phillips pendant Other pendants Steps Monitoring Wristwatches Mobile apps Fall-Safe Assist Fall-Safe Assist
- 9. Fall-Safe Distributors Hip Impact Protection University of Manchester – Trials and Users – BioSensics USA – Technology – Fall-Safe Assist CE mark FDA Registration
- 10. Finances • 2014 = £110k • 2015 = £100K • 2016 = £275k • 2017 = £1.3m • 2018 = £3.5m • 2019 = £6.6m Turnover ProfitF-SA Devices 0 10 (samples) 200 5,000 10,000 20,000 40,000 0 10k £55K £225k £1.2m £2.5m £4.1m
- 11. What do we want, and why? a). Production casings @£3.50 x 10,000 = £35k b). Stick-to-the-body & pad, double-sided film = £5k c). Create cloud database, 2 guys for 6 months = £75k d). Production run of F-SA chips, x 10,000 = £350k e). Office + admin/logistics, 1st 12 months = £55k Total = £520k NB. all approximate figures
- 12. Pads absorb 70% of the impact – so no hip fractures F-SA automatically calls emergency services F-SA monitors falls, steps, gait and activity in real time Through Fall-Safe Assist F-SA saves lives and – potentially – £millions
Editor's Notes
- How many of you have an elderly relative who has fallen over and broken a hip in the recent past? Or at least fallen badly, or often? How long did she lie there?
- This is the product – Fall-Safe Assist. It protects her hips, detects all falls and records any steps taken by the wearer. (Throws it on ground, holding mobile in other hand.) (Screen counts down & calls number on other mobile.) If I don’t get up it calls the emergency services. It also checks your gait and sends an alarm if it deteriorates, (stumble and sway) like that.
- Who is using our hip protectors? NHS hospitals under a 3-year renewable contract we have with the NHS Supply Chain, thousands of individuals and care homes who have bought them from us, through our website, through Amazon and through Lloyds Pharmacy – Betterlife, our UK distributor. We have distributors in Europe, France, Ireland, Holland, Belgium, Germany, Austria, North America, Korea & Australia. We have sold over 30,000 to date in 3 years. Plus pants.
- Rather than show the massive numbers of fallers and hip fractures in the UK or in Europe, let’s take a typical town in England – Oldham But of course many, perhaps most, of those falls happened to the same people over and over again, so the cost would have been less than half that figure. Oldham is just one of 211 CCGs in England, and slightly smaller than the average size. And there were 5.3 % more hip fractures last year than the year before, and the ageing population means that many more will happen in future years. The problem is the same in all developed countries to a greater or lesser degree.
- According to the authoritative Global Burden of Disease Report, Falls were the third worst problem in terms of Years Living with Disease in Western Europe and the Second worst in Central Europe, after back pain.
- As you can see, Fall-Safe Assist is the only device offering virtually 100% hip protection, automatic falls detection, steps monitoring and real-time gait analysis
- I am the key person in HIP, but I am supported by the BioSensics guys in Mass. who developed the chip, and by the Falls Prevention and analysis team at Manchester University, who are managing the trials of the device and ensure the ethical and statistical issues are taken care of. Incidentally, HIP has several non-execs including the ex-financial director of Minorco, the Anglo-American mining concern, 2 ex-senior partners of Deloittes and a top hedge fund man, Crispin Odey.
- Here are our turnover expectations for the next 5 years, they are based on these sales of Fall-Safe Assist devices. Please bear in mind that we have sold over 30,000 hip protector pads in the past three years. We expect margins of at least 100% if we can use your money to proceed with larger scale production of the chips.
- We need the finance to move from our pre-production prototype to medium scale production, which includes the casings for the chip with battery. We are developing with 3M, a stick-to-the-body, double sided breathable film which will reduce the SKUs as we will no longer need pants of different sizes and types. We need to develop the cloud database for research purposes to identify the causes of falls. We believe that the 350 grand will actually purchase significantly more chips that 10,000, but £35 each is a conservative cost, based on current pricing. Obviously we need to scale up our office and admin facility accordingly. After the first 12 months, revenue will cover those on-going costs.
- Thank you ladies and gentlemen, I welcome any questions