Connect with us

Health Care

ResApp Health Ltd (ASX:RAP) – Tony Keating

Published

on

The CEO Mindset - Tony Keating, Chief Executive Officer and Managing Director at ResApp Health (ASX:RAP)

Tony Keating is the Chief Executive Officer and Managing Director at ResApp Health (ASX:RAP), a developer of digital healthcare solutions to assist doctors and empower patients to diagnose and manage respiratory disease. ResApp is creating easy to use, affordable, clinically-validated and regulatory-cleared diagnostic tools that only require a smartphone. Their solutions are designed to be easily integrated into existing telehealth solutions and they are also working on apps to provide respiratory disease diagnosis and management directly to consumers and healthcare providers.

What’s your journey in becoming a CEO?
After completing my PhD at The University of Queensland, I moved to the US to work at the University of Maryland as a Postdoc. At UM I worked on research projects that were funded by the US DoD and NASA. After two years in Washington DC, I moved to Boston to join Exa Corporation. Over 90 manufacturers in the automotive and aerospace industry used Exa’s engineering software to optimise the performance of their products. At Exa, I started in research and moved quickly into a technical business development role, helping develop and execute our aerospace market entry strategy. I returned to Australia in 2010 and joined UniQuest, the commercialisation company of The University of Queensland. At UniQuest, I led the commercialisation of engineering technologies, including identification and development of opportunities as well as sourcing and negotiating transactions with investors and strategic partners. During that time, I acted as interim CEO for a number of start-up companies. In my portfolio were a number of biomedical engineering technologies, one of which was the technology that become ResApp. Working closely with Brian Leedman, Dr Udantha Abeyratne (the inventor of the technology) and Dr Paul Porter (our clinical partner), we spun the ResApp technology out of the university and raised the first round of funding by listing the company on the ASX.

Tell us a bit about your business and how you are commercialising?
ResApp is a digital health company that is focused on respiratory disease. Our core technology uses machine learning algorithms to analyse sounds (such as cough, breathing or snoring sounds) to screen for, diagnose and manage respiratory disease. By using sound, we are able to deploy our technology on an off-the-shelf smartphone, such as an Apple iPhone, without the need for any accessories or other hardware. Since starting the company, we have focused on generating the clinical data and achieving regulatory approvals for our technology. I’m pleased that we now have excellent clinical data from multiple clinical studies and have received CE Mark and TGA approval for two breakthrough products.

ResAppDx uses cough sounds to diagnose respiratory diseases such as pneumonia, asthma exacerbations and COPD exacerbations. It has been demonstrated in large clinical studies to identify these diseases at high sensitivity and specificity. ResAppDx is clinically valuable as a triage tool in traditional settings such as an emergency department, urgent care clinic or GP’s office where it can provide a rapid point-of-care result, but it is in telehealth where we have an extremely strong value proposition. We are able to provide telehealth clinicians with an accurate way to asses a patient’s lungs without a stethoscope or imaging which are obviously not available in the telehealth setting. We are working closely with telehealth providers, including our announced deals with Coviu and Phenix Health, to integrate our algorithms into their platforms to provide a seamless experience for both patients and clinicians.

SleepCheck is a direct-to-consumer screening tool for obstructive sleep apnoea. Sleep apnoea is a major health issue, with 3 in 10 men and 2 in 10 women suffering from sleep apnoea, and up to 80% of those with sleep apnoea being undiagnosed and therefore untreated. Untreated, sleep apnoea doesn’t only result in daytime tiredness, but increases your risk of heart disease significantly. To be diagnosed with sleep apnoea today takes multiple steps, including a referral and a sleep study which involves trying to sleep with multiple contact sensors (chest straps, EGC patches on your skull, etc.), typically in an unfamiliar environment. SleepCheck reduces the barriers to diagnosis, by placing your smartphone on your bedside table when you go to sleep, you wake up to a score which assesses your risk of sleep apnoea, advising you on the next steps you can take.

How are you managing with the current COVID-19 pandemic on both business and personal front?
COVID-19 has changed the way governments, providers and the general public think about healthcare. This pandemic has accelerated the growth of telehealth and remote monitoring of patients. Telehealth providers such as Ping An Good Doctor (China) and Teladoc (USA) have seen huge increases in the number of telehealth consultations so far this year. Our Australian telehealth partners, Coviu and Phenix Health, have seen exponential growth since the Australian government opened up Medicate rebates for telehealth here. With this growth comes the responsibility to deliver quality care and we fill a unique position in providing the only scalable solution for remote respiratory diagnosis. Without a way to know what is happening in a patient’s lungs it is difficult for a telehealth clinician to effectively diagnose a patient who has respiratory symptoms.

COVID-19 itself represents a challenge for the global medical community and there are a number of ways we can assist. We are exploring ways of identifying the virus itself through cough, but also see an immediate opportunity to assist in managing patients with COVID-19 remotely, by identifying mild patients (i.e. patients where the disease has not progressed to a lung infection) and keeping them at home, reducing the load on hospitals and other facilities.

Operationally, our business is working well under the current restrictions. Our team have used Slack for internal comms since we founded the company and continue to make great progress even with the team working from home. Travel restrictions certainly limit our in-person visits to customers and partners, however, like all businesses, we have moved most of our business development efforts online to platforms like Zoom. We recently employed a very experienced sales and marketing leader for Europe who is based in London which certainly increases our capability there.

Personally, I’m spending a lot of time on Zoom rather than in hotels, airports and airplanes. There have been a few Zoom interruptions from kids, but that seems to be something that everybody around the world is getting used to.

What’s the most exciting thing about running your business?
The things our team are able to achieve. Our team has grown quickly and has achieved major milestones such as regulatory approval and our first customer deals, while facing and overcoming some setbacks along the way. Very few companies globally have experience in the areas where we operate. Our small team has developed technology, clinical and regulatory strategies that put us in a very unique position of being one of the very few companies in the world who have achieved what we have achieved.

How do you measure success?
I’ll always measure success by the creating products we create that help patients. These products will help doctors better take care of their patients, or will empower patients themselves to make more informed decisions about their health. If we do this then we will deliver strong returns to our shareholders.

What do you think is the most important quality of being a CEO of a listed company?
Time management and communication. It’s important to ensure that I listen to our shareholders and communicate effectively with them, but also balance that with running the business, which is all about listening and communicating with our team.

What is your favourite book?
I don’t think I really have a favourite book, but the most recent book I finished was The Antidote: Inside the World of New Pharma by Barry Werth. The story of Vertex Pharmaceuticals, it describes the ups and downs of healthcare, especially when developing brand new and novel products, and the persistence required to be successful.

What message do you want to send to our readership in Asia?
ResApp has achieved much over the last 5 years, resulting in regulatory approvals for two products, ResAppDx, targeting clinical diagnosis of respiratory disease, and SleepCheck, targeting at-home self-assessment of obstructive sleep apnoea. Both of these products are entering huge global markets in 2020. While the COVID-19 pandemic has slowed global business growth, it has shone a spotlight on respiratory disease and telehealth.

How can people connect with you?
Email:
tony@resapphealth.com.au
ResApp Website: https://www.resapphealth.com.au/

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Health Care

Q&A With StockPal – Zelira Therapeutics (ASX:ZLD)

Published

on

Q&A with StockPal - Dr. Richard Hopkins, Managing Director of Zelira Therapeutics (ASX:ZLD)

Watch Dr. Richard Hopkins, Managing Director of Zelira Therapeutics (ASX:ZLD) and Jared Sim, Editor-in-Chief and Co-Founder of StockPal in this engaging Q&A with the following questions:

0:17 – What is Zelira’s business all about?
0:57 – How did your company cope with the COVID-19 pandemic?
1:37 – What is the business model and value proposition of Zelira?
4:47 – Tell us about the products you have launched and those that you are developing?
7:43 – What is the size of your potential target markets in these key areas?
9:00 – What is Zelira’s competitive advantage?
9:42 – How are you currently engaging with your investors?

Visit Zelira’s website to learn more about their story: http://www.zeliratx.com/

Email editor@stockpal.asia if you are or represent a listed-company and is keen to be in our interviews.

Want to be on the list next time this company raises capital? Open an account with Fresh Equities and start exploring capital raises – freshequities.com

Continue Reading

Health Care

Q&A With StockPal – 4DMedical (ASX:4DX)

Published

on

Q&A with StockPal - Andreas Fouras, Chief Executive Officer and Chief Technology Officer of 4DMedical (ASX:4DX)

Watch Andreas Fouras, Chief Executive Officer and Chief Technology Officer of 4DMedical (ASX:4DX) and Jared Sim, Editor-in-Chief and Co-Founder of StockPal in this engaging Q&A with the following questions:

0:00 – StockPal Introductions
0:10 – What is your business about?
0:44 – How did your company cope with the COVID-19 pandemic?
1:48 – How does the company make money?
2:32 – Who are your target customers?
3:16 – What is your firm’s competitive advantage?
4:18 – How are you currently engaging with your investors?

Visit 4DMedical’s website to learn more about their story: https://4dmedical.com/

Email editor@stockpal.asia if you are or represent a listed-company and is keen to be in our interviews.

Want to be on the list next time this company raises capital? Open an account with Fresh Equities and start exploring capital raises – freshequities.com

Continue Reading

Health Care

$5M cap raise gives MYQ a further boost in trillion dollar health tech market

Published

on

$5M cap raise gives MYQ a further boost in trillion dollar health tech market

There has been a strong investor focus this year on companies that provide stay-at-home type services such as Amazon (NASDAQ: AMZN) – its shares have increased from about US$1600 to a high of US$3550 in the last 12 months with the majority of those gains occurring since the emergence of COVID-19.

Looking more broadly at the technology sector, it has outperformed the market over the past 12 months, providing investors with a total return of 56%. Compare this to the S&P 500’s total return of 22.5% over the same period and you get a sense of how this sector has boomed in the face of the pandemic.

Australia measures its tech stock performance through the S&P/ASX All Technology Index, which was launched on 24 February this year.

This index, which features 58 of Australia’s leading and emerging technology companies, has followed a similar trajectory to the NASDAQ adding $33 billion in value in three months.

One reason is the accelerated uptake of technology and online activities, such as healthcare services.

This includes the uptake of health tech services such as those offered by the $156M capped MyFiziq (ASX: MYQ), which has started the process of a NASDAQ listing.

MyFiziq has developed and patented a proprietary dimensioning technology that enables its users to check, track, and assess their dimensions using only a smartphone privately and accurately.

MYQ last week appointed Ladenburg Thalmann & Co. Inc. to facilitate the listing which would open up a huge market segment to this health tech provider.

As a member of the New York Stock Exchange for more than 135 years, Ladenburg’s breadth of experience across financing and capital markets will be invaluable to MyFiziq as it goes through a period of rapid expansion.

With MyFiziq’s business involving corporate transactions with a multitude of players in the health and wellness sector and significant investment required for research and development purposes, the proposed NASDAQ listing couldn’t have come at a better time.

Access to capital markets that are very much attuned to the tech and biotech industries is a distinct advantage, highlighted by the fact that many merger and acquisition transactions that have occurred among MyFiziq’s peers in the last 12 months have been NASDAQ-listed entities.

The biggest health tech M&A in recent times has been Teledoc’s $18.5BN acquisition of Livongo that will create a leader in consumer-centred virtual health care.

To assist the listing as well as further roll out of the MYFiziq app is the completion of a $5 million placement to sophisticated and institutional investors. The placement was priced at $1.20 and included 1:1 free options for placement participants at a strike price of $1.60 and a 3 year expiry date.

Commenting on this development, chief executive Vlado Bosanac said, “I am very pleased with the support we have received for the placement.

‘’We worked closely with Evolution Capital and the list of institutional and high net worth investors they brought to the table.

“The offer closed substantially oversubscribed, demonstrating significant investor interest in the company.

‘’With the current partner rollouts underway and MyFiziq starting to generate revenue, we are now in a position where the company is unlikely to need additional capital outside of any strategic investment opportunities currently being considered or the proposed NASDAQ listing.

‘’This new capital will assist the company in more rapid expansion of our team and the ability to assist our partners in expediting their go to market timelines.”

MyFiziq’s shares were trading at 28 cents two months ago, indicating that the strike price for the capital raising represents a 330% premium to its share price in August.

MyFiziq’s ability to complete a heavily oversubscribed capital raising at a premium price is an endorsement of both the company’s operational future and management’s ability to continue to successfully execute on its growth initiatives.

The raise was an astute move by management to remain on the front foot in positioning the group to engage in its own corporate initiatives, including the collaboration with players in adjacent industries, something that has been a hallmark of the group’s success in 2020.

Some of those collaborations include a potentially company-making deal with Nexus-Vita Singapore, a health monitoring and management technology company that will guarantee MYQ minimum annual revenue of US$3,5M (AU$4.99M) per annum, from the date of commercial launch of its app.

MYQ will work with Nexus to release the app in January 2021.

MYQ has hit several milestones, including an agreement with Bearn LLC targeting over 25 million users, commencing work with Biomorphik and signing its first Binding Term Sheet to expand the newly developed CompleteScan platform capabilities with Asia Pacific corporate wellness platform WellteQ into the $10 trillion global telehealth, corporate wellness and insurance market.

MYQ’s company’s current $150M market cap could prove to be just the beginning for the company – especially ahead of a NASDAQ listing and wider exposure to US investors.

Continue Reading

Get more stuff

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

Recent Posts

Categories

Trending