HealthBeacon SHA

M&A Activity • Mar 7, 2022

National Storage Mechanism | Additional information

RNS Number : 7784D

HealthBeacon PLC

07 March 2022

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

7 March 2022

HealthBeacon signs major contract with a large US Specialty Pharmacy and Pharmacy Benefits Manager

HealthBeacon plc ("HealthBeacon" or the "Company"), the leading Irish digital therapeutics company that develops products for managing injectable medications for patients in the home, is pleased to announce it has entered into a multi-year commercial arrangement with one of the largest independent pharmacy benefits manager ("PBM") and specialty pharmacy services in the U.S., for inclusion in its patient service offering.

This development makes HealthBeacon's Injection Care Management System ("ICMS") more widely available to the approximately nine million patients in the U.S. that self-administer subcutaneous injections at home. HealthBeacon's most recent peer-reviewed published evidence demonstrated up to a 26% improvement in injectable medication adherence.

Through this contract, HealthBeacon expects, during 2022, to deploy up to 15,000 units of its Smart Sharps Bin, a US FDA cleared product which tracks and has been clinically proven to materially enhance patient adherence with medication schedules. The Company has a near-term target of 100,000 patients using its ICMS, representing an approximately ten-fold increase on the numbers units deployed by HealthBeacon at the end of 2021.

Jim Joyce, CEO, and co-founder of HealthBeacon, said: "The signing of this contract is a significant milestone for HealthBeacon, unlocking greater access to our injection care management system for the millions of patients in the U.S. that self-administer subcutaneous injections at home. It is also an important validation of HealthBeacon's technology and the clinical effectiveness of our product. Moreover, it is an endorsement of our mission to become the world's leading digital therapeutics platform for injectable medications. At HealthBeacon, our fundamental aim is to make our product globally accessible and this yet another landmark development as we work toward what we expect will be a ten-fold increase in the number of patients using our injection care management system by the end of next year."

HealthBeacon's inclusion as an integral patient service offering with one of the largest independent PBMs and specialty pharmacies in the U.S. is key step towards improving care of chronic disease sufferers and comes on the back of a robust trial and assessment of its technology across 48 states in a range of inflammatory conditions. Prior to inclusion, HealthBeacon's ICMS was evaluated by a panel of experts for:

·    Clinical effectiveness

·    Security and privacy compliance

·    Value and affordability

·    A user-friendly experience

In the initial rollout of this agreement pharmaceutical manufacturers will now have streamlined and integrated access to this important adherence technology through specialty pharmacy.

This Announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("EU MAR") and is disclosed in accordance with the company's obligations under Article 17 of EU MAR. The date and time of this Announcement is the same date and time that it has been communicated to the media.

The person responsible for arranging the release of this Announcement on behalf of HealthBeacon is Laurence Flavin.

Enquiries:
HealthBeacon: Laurence Flavin	Investor.Relations@HealthBeacon.com
Goodbody (Euronext Growth Adviser and Broker): David Kearney	+353 (1) 667 0420
Stephen Kane
Drury (Public Relations):
Billy Murphy	+353 (0) 87 231 3085
Cathal Barry	+353 (0) 87 227 9281

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About HealthBeacon

Headquartered in Dublin, HealthBeacon is an Irish digital therapeutics company that develops products for managing injectable 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. The Company operates in 17 countries primarily across Europe, North America and the United Kingdom employs more than 50 people and has obtained more than 30 design and utility patents. Peer reviewed evidence supports a 26% improvement in therapy adherence by patients, which improves clinical outcomes and significantly improves efficiency in health systems. The Company's mission is to become the world's leading digital therapeutics platform for injectable medications.

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