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Healthcare Product - Reducing Falls in The Elderly Population

Member: Crossfire
Located in: Hampshire, United Kingdom (Great Britain)

Business Details

Business Stage:
  • Start-up/Seed (business to be started)
Amount Required:
  • £75000.00
Investment Types:
  • Equity/shares
Reasons:
  • Initial start-up of business
  • Equipment/inventory purchase
  • Working capital
Industries:
  • Medical/Healthcare

Short Description

I have invented a multi directional telescopic hand rail to reduce falls in the elderly and to help keep them safe in their own homes. I have presented it to a team of clinicians this was through www.devicesfordignity.org.uk at a hospital in Sheffield, in their report to me they wanted me to enter into a commercial collaboration. I have recently received a Commercial Partnership Agreement from University Hospital Southampton.

Falls in the elderly cost the NHS £6 million per day or £2.3 Billion per year.A UK patent is pending.This hand rail is to be fitted adjacent to the top of the stairs / landing area.Because of its unique design it can be either left or right handed depending on the staircase layout this gives the user many options as to its final installation position.It is tested to B.S.6180:2011. I am seeking funding to bring this product to market.

Executive Summary

INTRODUCTION.
Home Safe Products is a registered Limited company in the UK.I have invented a multi directional telescopic handrail for use in an older persons house. This is a new product to the market and addresses a falls problem that up until now has not been addressed namely adjacent to the top of the stairs / landing area.

This handrail can either be left or right handed depending on staircase layout. Able bodied people can still access the top of the stairs/landing area.Falls in the elderly cost the NHS £6 million per day or £2.3 Billion per year.I have presented this to a team of clinicians at a hospital in Sheffield, I have their report to show.

I also have just received a Commercial Partnership Agreement from University Hospital Southampton to bring this product to market.We are looking to expand rapidly and seek both additional expertise and investment. I have interest from the NHS and a disabled group.

THE MARKET.
In the UK there are 11.8million people over the age of 65 of which 33% will fall this rises to 50% for the over 80's.This age group is increasing by approx 650,000 people per year.There are 6.9million disabled people of working age of which 57% have a mobility problem.There are 4.5million households with one or more persons with a mobility problem. There are over 10 million disabled people in Britain, of whom 5 million are over state pension age.Falls in the elderly is a global problem.The World Health Organisation advise that additional handrails should be installed in a persons home.

THE SERVICE.
The product will be sold through an online retailer into the UK market and as sales improve to then be sold into mainland europe using the same online retailer.Eventually then into USA and Japan.

THE MANAGEMENT.
With the Commercial Partnership Agreement from University Hospital Southampton they will facillitate market access to the NHS (England), consider global market exploitation,business advice , including funding opportunities,representative site in the NHS,guidance and advice in relation to intellectual property rights,financial business modelling cash flow and forecasting , maintain project timeline.

FINANCIALS.
Although at present I am a pre startup business and am looking for a £75,000 investment which could be in the form of a share of the business. This would be to purchase the tooling plus finished product.I am confident that the investment would be recovered within 12 months.

Within the above Commercial Partnership Agreement there is a 5 year sales forecast which is available to view to interested parties

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