Pictured: Jim Joyce, CEO, HealthBeacon
Digital health-tech company HealthBeacon doubled its revenue in 2021 as it continues to expand into new markets. HealthBeacon CEO Jim Joyce is our Business Person of the Month March 2022 in association with KPMG.
HealthBeacon almost doubled its revenues in 2021 under the guidance of CEO Jim Joyce and has begun to significantly increase sales of its smart sharps bin technology. The Dublin-based company made €25 million last year and have ambitions to increase revenues by ten while tripling their workforce.
Joyce has stated that they aim to sell 100,000 of their smart sharps bin units by the end of 2023. HealthBeacon specialise in the development of products for managing injectable medications for people at home.
Demand for the company’s products has grown as reflected in the increase in their workforce in recent years. HealthBeacon’s company average headcount increased to 47 to 34 during 2021. The company continues to meet their supply demands despite the growing client base and inflation issues.
On the back of this sustained growth, Jim says HelathBeacon plan to become the world’s leading digital therapeutics platform for injectable medications.
“In 2021 and early 2022 we have generated significant momentum, doubling our business, adding important new clients, and expanding our routes to market and capabilities,” he said.
“The build order we placed for 35,000 units of our smart sharps bin also demonstrates strong momentum towards what we anticipate will be a ten-fold increase in the number of patients using our technology by the end of next year,” he said. “The progress we have made to date alongside the listing of the business late last year has set the foundation for us to become leaders in our key markets”
“Recently published peer reviewed evidence demonstrating a 26% improvement in medication adherence further validates our injection care management system as major pharmaceutical companies and health systems continue to adopt our leading technology,” Jim added.
HealthBeacon made a huge leap forward in March when they began selling their Smart Sharps Bins directly to US customers. The expansion in to the US market was part of a partnership with US firm Hamilton Beach Brands. The product has been branded as Hamilton BeachHealth powered by HealthBeacon and is available on Amazon and Smartsharpsbin.com.
“At HealthBeacon, it is our fundamental aim to make our advanced medication management system globally accessible. Our partnership with Hamilton Beach Brands will place us in a strong position to reach and support the millions of patients who need to take critical medications by injection in their homes,” said Joyce about the partnership.
“Hamilton Beach is a brand consumers trust and, with the Smart Sharps Bin, we look forward to making it easier for patients in the US to manage their injectable medications, stay on track with their treatment and safely manage the disposal of their used injectable medication.”
Business & Finance, Business Person of the Month
