Volpara takes first step towards cracking the UK health market
Health & Biotech
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Volpara Health has entered the UK market a week after saying the British National Health Service (NHS) would be a 10-year marathon to crack.
The breast cancer detection business (ASX:VHT) is starting a two-year trial with the Manchester University NHS Foundation Trust, in a bid to get the technology into a breast screening program.
The trial, funded by the National Institute for Health Research (NIHR), will target women in Greater Manchester, East Cheshire and East Lancashire.
In the US, 40 million women receive mammograms a year, but England has one of the next biggest breast screening programs, imaging about two million women a year, Volpara says.
Founder Sir Mike Brady and CFO Craig Hadfield told Stockhead last week the company’s biggest market was the US.
“Volpara’s strategy remains the same. Our forward focus is on the US market, and trials in Europe. What the NHS trial shows however is that we do have serious near-term commercial possibilities in the UK, and this is an opportunity we are excited to further explore,” CEO Ralph Highnam told Stockhead on Tuesday.
Sir Brady said they’d reached about 3 per cent of the US market, where 90 per cent of Volpara’s revenue comes from, while Mr Highnam said the national health systems of Europe were a long term play.
Stockhead is seeking comment from Volpara.
Volpara closed Monday flat at 7.6c.