Archive Press Coverage
 
08/O1/02 - Business a.m

Medical software firm heads for sales of £1m

Douglas Friedli

A medical software company with roots in Scotland and India is aiming for sales of close to £1m this year after winning a string of UK contracts.

AxSys Technology was set up in 2000 by Pradeep Ramayya, a former anaesthetist at Health Care International's private hospital in Clydebank.

Its main product links medical records with video-conferencing and automatic telephone equipment, making it easier for doctors, hospitals and patients to share information.

Dr Ramayya, who forecasts sales of up to £1m this year, said: "We expect a steep upturn in a shot period of time. We have to sell into our own backyard first, but clearly we have a global product with universal appeal."

Demand is expected to grow as pressure increase on health trust and hospitals to cut waiting lists. About 30% of surgery time is taken up by patients with routine appointments, any of which could be handled by an automatic system.

Dr Ramayya said: "Our software has been produced for doctors by doctors to address patients care. Most other systems address just administrative functions."

Axsys's clients so far include Hereford General Hospital Trust, Glasgow Royal Infirmary and the Queen Mother's Hospital in Glasgow, where it is providing a system for the foetal and ultrasound medicine unit. It will find out in the net two weeks if it has won a contract with the Welsh assembly to equip a telemedicine project for the whole principality.

Investors, including the merchant bank Morgan Stanley Dean Witter, put £1.5m into Axsys two years ago. It's second funding round of £700,000, backed by Matterhorn Investment Fund, a Singaporean group, called the company at just over £5m in August.

Axsys employs nine people at its Clydebank HQ and another 47 at its software development centre in Hyderabad, India. Dr Ramayya said: "In five years, this will be a global company with its headquarters in Scotland."


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