The Standing CT Company
Medical Director and Medical Advisory Board Chair
Imaging Manager / Chief Radiographer
Medical Advisory Board Member
Medical Advisory Board Member
Medical Advisory Board Member
Lead Radiologist / Medical Advisory Board Member
The Standing CT Company is a collaboration between the UK’s leading orthopaedic foot and ankle surgeons, a team of experienced healthcare entrepreneurs and Curvebeam LLC, manufacturer of the PedCAT.
Our aim is to enable access to bilateral weight-bearing CT scanning to referring surgeons across the UK within the next 5 years thereby significantly improving patient outcomes.
Standing CT owns fixed scanners as well as mobile scanners that will move between hospitals on a rotating basis to enable clinicians streamlined referral, booking, and reporting of weight-bearing CT scans.
Standing CT has exclusive distribution and resale rights for all Curvebeam scanners in the UK and other European countries.
Our investor base will be made up of leading foot and ankle surgeons in the UK.
NOTE: Only clinicians registered with the GMC or HCPC will be accepted for investment.
Rapid access to weight-bearing standing CT is having a significant impact on clinical practice for foot and ankle surgeons in leading centres such as the RNOH in Stanmore and Harvard Hospitals in the US as well as many other centres across the world (75 scanners currently in operation)
Standing CT can be helpful in diagnosing many foot and ankle issues including:
• Trauma e.g. mid foot injuries.
• Talar OCDs vs bilateral symmetrical osteochondritis.
• Discerning deformities in high arch and flat feet.
• Hallux Valgus (and the metatarsosesamoid joints).
• Post operative metalwork positioning and fusion progress.
New developments should include standing knee scanners useful in trauma and for pre and post op assessment of knee replacements.
We believe that because of cost pressures in the UK, most clinicians would not have sufficient volumes to justify a capital outlay for their own scanner. Standing CT has established a fractionated ownership model whereby aggregate volumes of groups of clinicians can be used to enable access to this exciting technology.
Substantial accomplishments to date
• Banks, Legals, Leasing, Insurance, Logistics and Manufacturing Partners in place.
• Development of the world's first mobile standing CT vehicle Jan 2017.
• Delivery of first branded mobile scanning unit April 2017.
• Completion of end to end testing June 2017.
• CQC registration achieved May 2017.
• Fully mobile, cloud-based RIS (Lumeon) and PACS (Biotronics) operational.
• Key Team members recruited and in post.
• Medical Advisory Board of leading UK foot and ankle surgeons established.
Commercials in the first 6 months of operation:
• Scanning contracts already secured with 3 UK hospitals.
• first patient scanned in June 2017.
• First installed service with a leading London based private hospital.
• over £300,000 revenue to date (during set-up phase).
The company intends to have a number of fixed units in the UK either through the sale of scanners or managed service contracts as well as build a fleet of mobile units as is currently seen with MRI scanners by companies such as Alliance Medical and InHealth.
We have contracts with NHS and private hospitals for sessional and daily mobile services, charging on either sessional/day rates or per scan rates depending on the preference of the hospital and the projected volumes.
Use of proceeds
We intend to use the proceeds for the development of the business and expansion to additional hospitals, specifically:
• Purchase of 2 additional mobile scanning vehicles to begin to expand across the UK.
• Introduce new product lines for weight-bearing knee CT scanning and in-clinic 3-dimensional imaging of the hand/wrist/elbow.
• Initiate international expansion to the Europe and US with a view to setting up JVs and franchise models.
NOTE: The company may register as a BCorp in the future.
B Corps are for-profit companies certified by the non-profit B Lab to meet high standards of ethical, social and environmental performance, accountability, and transparency. Upon successful completion of the certification process, the company shall operate for wider objectives of all stakeholders rather than just the sole benefit of its shareholders. Further information on B Corps can be found at https://www.bcorporation.net
Private and NHS hospitals across the UK and hospitals across Europe.
Characteristics of target market
• Foot & Ankle devices is one of the fastest growing markets in orthopaedics with the market size expected to reach £4.2B in 2020 from £2.9B in 2015, at a CAGR of 7.2%.
• Based on experience from the US and Germany and surveys conducted with surgeons, we estimate that 90+% of current foot and ankle CT referrals and 50+% of current foot and ankle X-rays can shift to weight-bearing CT equating to 300,000+ potential standing CT scans per annum in the UK.
• We estimate the potential UK market value for standing CT to be £45m+ and an estimated European market size of £300m.
• The addition of scanning for the knee, hand, wrist and elbow should significantly increase the potential market size.
• Weight-bearing X-ray displaced non weight-bearing X-ray in the 1990's and we anticipate that standing CT will similarly become the de facto standard in diagnosis and management of the leading foot and ankle specialists over the 5-10 years.
Our clinician investors should speed up access and procurement by initiating contact with the correct decision makers within the hospital avoiding wasted approaches and conversations.
We intend to run educational events led by our clinician investors and advisors to lower the barrier to acceptance and adoption by clinician referrers and hospital management.
There are two competitors (Carestream and Planmed) both of whom provide weight-bearing CT scanners. At present, to our knowledge, neither company provides scanning of both feet and ankles in a single pass.
Competitive scanners rely on computer algorithms to stitch images and also require patients to have to turn around or reposition between scans which is not only inconvenient but sometimes impossible for disabled or elderly patients.
Neither competitor offers a mobile service. We believe this is a major differentiator due to cost pressures within the UK health industry.
Centres of excellence such as Harvard Hospitals in the US have evaluated several scanners preferring the PedCAT as their equipment of choice.
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