Digital therapeutics firm HealthBeacon to raise €25m from Irish Stock Exchange IPO

HealthBeacon, which makes self-medication kits for people who regularly take injectable treatment at home, aims to raise gross proceeds of €25m to help to fund its development.

Irish healthcare services company HealthBeacon is to float its shares on the Irish Stock Exchange with the aim of raising gross proceeds of €25m to help to fund its development.

HealthBeacon is a digital therapeutics firm which makes self-medication kits for people who regularly take injectable treatment at home.

Its system also links to an app through which users can build a medication schedule and a reminder system. 

HealthBeacon said it aims to become the world’s leading digital therapeutics provider for injectable medications and is expecting to see a 10-fold increase in the number of patients using its system in the next two years.

The money from the flotation will be used to grow the company's workforce, boost its working capital, and invest in technology R&D.

'Pivotal stage of development'

“HealthBeacon is at a pivotal stage of its development and this IPO is the natural next step to accelerate the company’s growth,” said CEO and co-founder Jim Joyce. 

"In developing the world’s first FDA-cleared smart sharps bin, which significantly enhances medical adherence for patients who need to self-inject medications, the IPO will facilitate a step change in building the company’s presence in its core markets across the US and Europe, as well as helping to accelerate the deployment of HealthBeacon devices in these markets,” said Mr Joyce.