Pacla Medical - Backhug: Treating spinal joint stiffness
Pacla Medical is a private health care technology firm that has developed Backhug, a robotic physiotherapy device for treating pain. Pacla operates a scalable subscription model where customers typically pay £99/month for a 12-month contract (there is also a purchase option), potentially generating high levels of SaaS-type recurring revenue. The addressable market to reduce back pain is estimated at about 197 million people globally and worth $76bn in annual revenues. Pacla’s sales for the last 12 months were £21k; it has already sold 25 units and has a waiting list for 300. The planned £5m capital raise would allow expansion into the key US market and facilitate targeted growth to c 5k units over the next 18 months, with Pacla expecting FY24 sales to reach £14.1m.
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