Overview

NGG is delighted to offer this opportunity to invest in BEAMS (Bedside Equipment Alarm and Monitoring System) which, enables hospital staff to improve patient safety and provide higher quality patient outcomes.

This Device

It is a smart, digital acoustic listening device that monitors the alarms of all manufacturer’s bedside medical equipment. This device alerts nurses that a patient requires attention via a cloud based ‘plug and play’ platform. It is an innovation designed to mount above the patient bed, plugging into a standard electricity outlet without any required connection to either machine or patient. The BEAMS System is standalone in the hospital (where there is no cloud server interface) or can be connected to the BEAMS cloud server via a BEAMS 4G modem to allow for software updates and report generation, the hospital has the option of either.  This BEAMS device creates its own Mesh WIFI network and has an interface at the nurse station (HMI) and also sounders down the corridor. The system comprises a room mounted listening monitor, a nurse console, sounders in the corridor and the modem.

The BEAMS technology is patent pending and uses proprietary signal processing and deep machine learning to memorize alarm tones based on equipment types.  The device already carries CE Mark accreditation.

The specific algorithms behind this technology allows the device to identify individual alarms per machine manufacturer allowing ambient noise (e.g. mobile phones) to be filtered out to avoid false alarms. It dramatically improves nurse response times by 84%, as a result improving workflows leading to lower operational costs.

The device has been successfully trialed and implemented at Sheffield Children’s Hospital which has installed 100 of these devices, as well as under trial with two other notable NHS hospitals in the UK. Sheffield have recently extended their rental commitment for a further three years. This innovation is being marketed to all National Health Scheme hospitals in the United Kingdom and will be offered into the European market next year.

The Opportunity

Our client is seeking new capital for a shareholding in the company. These funds are to be utilised to grow the sales and marketing volumes for the business.  In addition, we are seeking a suitable Joint Venture partner to promote and actively grow this opportunity in the USA, India, Middle East, China together with the South Pacific markets.

Patient harm events, through missed alerts, costs millions of dollars each year in litigation and damages. In the UK the National Health Scheme paid out GBP £1.5 billion (USD$2 billion approx.) in litigation expenses from avoidable hospital events. In 2008, PriceWaterhouse - Cooper estimated that the cost of medical litigation in the USA was USD$39 billion.

Our client is offering this device on a 5 + 5-year rental basis, with rent paid annually in advance. The device is to be offered at a cost of USD$1200 per unit per annum to the hospital. In compensation for financing the manufacture and supply the company would be seeking an annual payment of USD$600, per unit per device for each year in the rental contract. The balance of the annual payment USD$600 would be retained by the Joint Venturer/Distributor partner.

Competition – to the best of our client’s knowledge there are no other products that alerts nurses to alarm calls across all types of equipment.

United Kingdom market comprises 132,000 beds with 46,000 single occupancy rooms, there are 3.7 million beds in the Europe, initial product take-up is focused on the UK market, with expansion into the European market to a years’ time.

Exit Strategy

The company will be seeking an industry trade sale within a five-year time frame.