Brain+ partners with Quiddity Health, the #1 UK digital healthcare market specialist, to prepare UK market entry for CST-Therapist Companion
-
Quiddity Health has a strong track-record of helping innovative digital therapeutic companies successfully enter the UK healthcare market and reach commercial scale
-
Brain+ plans to have a UK version 2.0 of CST-Therapist Companion, its new digital solution to support effective dementia therapy, ready for UK market release in Q3 2024
-
Initially, Quiddity Health will work with Brain+ to develop a targeted go-to-market plan for CST-Therapist Companion in the UK and build relevant pre-sale customer engagements
-
Post market release, Quiddity Health will act as Brain+’ full scale commercial partner under a cost-efficient revenue sharing model to reach sales acceleration in the UK healthcare market
-
First UK sale expected late Q4 2024 with buildup of pipeline for additional sales in Q1 2025
Copenhagen, Denmark, February 9th, 2024 – Brain+ A/S (Nasdaq First North: BRAINP)
Brain+ has entered a partnership with Quiddity Health, the leading digital healthcare market operator in the United Kingdom (UK), to prepare for market entry and commercial scaling of CST-Therapist Companion. Quiddity Health has a stated purpose of Sales Acceleration for Proven Healthcare Solutions - Build Pipeline, Grow Revenue, and they have successfully helped several new digital health and therapeutic solutions be established on the UK healthcare market, including Headspace, Hedia and Radiobotics, and they currently serve 30+ proven digital health companies for their UK commercial scaling. Quiddity Health operate mainly on a revenue sharing model, meaning that they take a risk in their partnerships and therefore perform due diligence on the companies and on the relevance and scaling potential of their solutions, before committing to partnerships.
Through 2023, Brain+ has developed a significantly upgraded version 2.0 of CST-Therapist Companion, its digital solution to support the delivery of Cognitive Stimulation Therapy (CST) to people with mild to moderate dementia. A UK adopted version of CST-Therapist Companion v2.0 is planned ready for commercial release in Q3 2024. This includes getting medical device certification under EU MDR (class 1) as well as under corresponding UK regulations and meeting all other relevant regulatory and quality requirements. Having medical device status opens access to a broader range of healthcare customers and payers, including the National Health Service in the UK, also providing a stronger value proposition and hence pricing potential for the product.
Commenting on the partnership with Brain+, Gavin Matthews, Founder and CEO of Quiddity Health said: “We are incredibly excited and honoured to welcome Brain+ to our portfolio of impactful digital innovators. Our due diligence process when selecting new digital health partners is designed to find the solutions that will have the greatest impact for patients, healthcare providers and clinicians. However, it also covers the readiness of the technology, business and core team to deliver that impact. For all of these reasons, I’ve been excited about Brain+ coming to the UK since our first interaction with Kim and the team, and it’s great news to be getting started together now.”
Kim Baden-Kristensen, CEO & Co-founder, Brain+ A/S added:
“I am extremely pleased to be able to announce our new partnership with Quiddity. Through 2023, it has become clear to us that the UK represents the most mature market for CST-Therapist Companion in terms of CST adoption, user readiness and reimbursement pathways for digital therapies. This has been confirmed in our dialogue with the team at Quiddity, who has deep insights into the UK digital healthcare market and believe in the potential of our solution. We will now work with Quiddity to prepare for a successful market entry and in parallel complete the development of our UK product version targeting commercial release in Q3 2024.”
The Quiddity Health and Brain+ partnership starts with an initial effort to co-create the commercial strategy for CST-Therapist Companion in the UK and start preparing market entry of the product. This includes a targeted go-to-market plan and the build-up of relevant pre-sale UK customer engagements.
Based on Quiddity experience, the expectations are to be able to close the first sale in Q4 2024 and to have a pipeline of leads for additional sales to be realized in Q1 2025.
Following commercial release, Quiddity will take the role as Brain+’ full-scale commercial partner in the UK to execute on the commercial scaling strategy on the operational sales side.
Contact Information
CEO and Co-founder: Kim Baden-Kristensen, + 45 31393317 (SMS), [email protected]
Mission: Bringing effective digitally-delivered dementia therapies to those in need, serving a million people with dementia, care-givers and clinicians by 2030
About Quiddity Health
We believe every healthcare professional should be empowered with practical solutions. Solutions best suited to their unique needs - so they can operate at their A-game, improve clinical efficiency and provide the best possible care to their patients. We also believe that digital health innovators are enabling a revolution. A revolution that will improve access to healthcare for people everywhere, regardless of wealth, ethnicity, or disability. We exist to bridge the gap and to accelerate the adoption of these solutions - identifying best fit and supporting where we can to enable better outcomes for everyone.
About Cognitive Stimulation Therapy (CST) and CST-Therapist Companion
Brain+ released a Danish pilot version of CST-Therapist Companion in late 2022 as a digital solution to support the delivery of Cognitive Stimulation Therapy (CST) to people with mild to moderate dementia. CST is an evidence based non-pharmaceutical therapy, delivered by trained CST-therapist over 14 sessions to groups of typically 4-8 people with dementia, and which has been shown to delay cognitive decline and improve both social skills and quality of life. CST is recommended by the World Alzheimer’s Association and gaining increased recognition worldwide, but implementation barriers exist. Specifically, the implementation of procedures to deliver CST, and the need for preparation of material to the group sessions. In addition, the benefits of the therapy depend on the consistent delivery of high-quality content in accordance with the CST method.
CST-Therapist Companion addresses these main barriers for adoption, specifically by reducing preparation time for therapists to allow more face-to-face time with patients, offering readily accessible high-quality content for the consistent delivery of CST according to the method, altogether allowing an easier and less resource intensive implementation. The goal is to facilitate that more people with dementia get access to the therapy. The quality assurance of the product instills trust in therapists as the content and methods are developed closely and with strict approval procedures with leading CST experts, including from the CST inventor Amiee Spector’s group at University College of London (UCL).