Report
Teaser, summary, work performed and final results
Periodic Reporting for period 1 - PaDiCare (Patient empowered Diabetes care in ambulatory settings)
Teaser
PaDiCare ambition is to build and sustain high growth by becoming a major player in the global market of Point of Care equipment, focused on empowering chronic diseased patients with the ability to measure vital biomarkers through blood analysis. Atonomics A/S & InteleCare4U...
Summary
PaDiCare ambition is to build and sustain high growth by becoming a major player in the global market of Point of Care equipment, focused on empowering chronic diseased patients with the ability to measure vital biomarkers through blood analysis. Atonomics A/S & InteleCare4U, the SMEs are behind Padicare, forecast to achieve revenues of €49.8 Million with net profits of €21.9 Million within five years. The present feasibility study represents a key step towards the implementation of our overall innovation project, the primary of which is – through market replication - full-scale demonstration and adaption to scale our solution into 3 areas, starting with Diabetes as the primary market. Through several interviews and meetings with KOLs within Danish, Dutch & Lithuanian Health Institutions and market leaders within PoC product, the demand for PaDiCare was clearly verified. Our analysis shows that our ambitions may be fulfilled if an experience-focused route-to-market strategy is followed.
Work performed
During the reporting period the following was accomplished:
• Completed a ICT prototype platform for end-user testing and validation
• Completed a feasibility test on 21 patients at Aarhus University Hospital;
• Found that >90% prefer the PaDiCare platform over current practice of blood sampling.
• Completed a market investigation including Lithuanian, Dutch & Danish Health institutions
• Completed a competitor analysis – competing solutions generally lack the needed features of the segment or tend to be too expensive;
• Signed Aarhus University Hospital & Hospital of Lithuania for testing the solution;
• Applied technical refinements on the Diabetes type-1 treatment;
• Further development and enhancement of the business plan
The concept and approach, as well as the impact was validated favourably through the feasibility study. We have concluded that the overall strategic vision should be expanded. Larger markets, mainly Germany and Spain including U.K. should be addressed. Moreover, secondary markets such as, Eastern Europe and Southern Europe were considered important markets to be targeted in the future, due to the high competitive advantage PaDiCare has to current solutions on these markets.
Final results
The Padicare solution will significantly improve the overall patient satisfaction of people living with Type-1, Type-2 and Gestational diabetes. It will also have a massive impact on economy affected by people living with diabetes in saving transportation time, handling time and optimizing and increasing their health condition. By commercializing this innovative solution, Atonomics & Intelecare4u expects the following socio-economic impact (PaDiCare Year-Net profits €/ Atonomics new employees / INTC4U new employees)
2020 - X.x163.317 (1/0,03)
2021 - X1.942.414 (5,4/0,5)
2022 - 15.464.919 (14,11/2,34)
2023 - 11.289.536 (28/5,75)
2024 - 21.883.820 (53,44/12,31)
Website & more info
More info: http://www.padicare.com.