World’s first smart phone- based pain assessment and monitoring application developer PainChek (ASX: PCK) has announced a business update highlighting increased implementation and developments surrounding expansion of the technology into new markets and geographies.
Implemented licences growth
As of 30 September 2024, the company reported a total of 100,322 contracted licences of which 61,705 had been implemented. As of 30 November 2024, total implemented licences increased to 68,136, reflecting an additional 6,431 implemented licences, a 10% increase over the past two months.
The company has continued to rollout and implement licences faster through a change in contracts and training methods. Customer contracts now include rollout schedules with implementation dates and milestone payments for larger clients across ANZ and UK.
A train-the-trainer programme with UK customers also enables implementation across the larger customers. A full summary of the updated contracted and implemented beds will be provided in the December quarterly update (due end January 2025).
The company has a strong global pipeline of new clients and planned implementations to continue growth in implemented licences and ARR.
WA Govt funded agreement to develop PainChek App for non-verbal children with disabilities
Formal agreement for the Western Australian government funded development of a new PainChek App to assess pain for non-verbal children with disabilities is now in place. The project was made possible by a $392,820 grant from the Western Australian Government’s Future Health Research and Innovation Fund, that will be used to fully fund the research and development of the new PainChek App.
The research project, known as ‘Detecting pain in kids who can’t tell you it hurts: PainChek for children with disabilities’, is led by Professor Jenny Downs, Head of the Development and Disability Program and Lead of the Child Disability team at The Kids Research Institute Australia (The Kids) and Dr Katherine Langdon, Perth Children’s Hospital consultant in paediatric rehabilitation medicine. The project is a collaboration between PainChek, The Kids and Perth Children’s Hospital (PCH), who initially identified an unmet need for a pain assessment tool designed and developed specifically for children with disabilities.
PainChek will hold exclusive rights to commercialise the new PainChek app positioning the company to lead the global market in advanced, technology-driven pain assessment solutions. The project is expected to be finished and ready for commercialisation in about two years.
The Royal Infirmary of Edinburgh, Scotland has commenced a live trial to use PainChek across the hospital setting. The PainChek pain assessment data integrates with the with InterSystems TrakCare health information system, following successful collaboration with InterSystems to build and test this new process. The InterSystems TrakCare is a global interoperable system used within hospitals worldwide, connecting care teams across the healthcare ecosystem and providing healthcare professionals with a single source of truth for clinical information.
The PainChek trial is planned to run for 16 weeks and used as the basis of a business case for broader roll out across the Edinburgh hospital network. Moreover, the integrated PainChek and TrakCare process is now available to access the global InterSystems and TrakCare hospital network.
“The company is on track with its three focus business areas. This includes growing our core businesses in existing markets, entering new markets including specifically the USA, and market development of the large infant market where 150 million children are born each year and objective pain assessment is not currently available,” CEO, Philip Daffas, said.
“In addition, the WA government funded agreement shows we are continuing to expand our portfolio to ensure no person suffers from pain in silence. We thank our shareholders for their continued support as we continue pursuit of these opportunities.”