HealthBeacon founders Kieran Daly and Jim Joyce. Image: HealthBeacon
HealthBeacon CEO Jim Joyce said the US is one of its ‘core markets’ and a OTCQX listing will help the company woo US investors.
Irish medtech HealthBeacon has begun trading in the US on the OTCQX market, making it easier for US investors to trade in the company’s stock.
OTCQX is the top tier of three markets for over-the-counter trading of stocks operated by the OTC Markets Group. It includes both domestic and multinational companies, which must meet high financial standards to qualify for listing, seeking access to US investors.
Jim Joyce, CEO and co-founder of HealthBeacon, said that the listing on the OTCQX market is “an important milestone” that provides the Dublin-based medtech with an opportunity to grow its US investor base in a key market.
“Fundamentally, this development enables greater awareness and increased visibility of our stock in one of our core markets, but we also believe it will provide improved liquidity and, consequently, enhance shareholder value,” he said.
Established in 2013 by Joyce and co-founder Kieran Daly, HealthBeacon is a digital therapeutics company. It has built an injection care management system that aims to help patients manage injectable medications, adhere to treatment schedules and safely dispose of used sharps.
In December, the medtech went public on Euronext’s growth market in Dublin. This followed a multimillion-dollar North American deal in June 2021 and a funding round at the end of September that raised €6m.
Joyce said that HealthBeacon is on a mission to become the world’s leading platform for managing injectable medications and the US represents a fast-growing market for the company that will help it build on its success.
“This is yet another step on our journey, as a listed business, towards connecting people to better health through sustainable, digitally enabled solutions,” he said.
HealthBeacon now employs more than 70 people across its operations in Europe and North America, with more than 30 design and utility patents to its name. In April, it launched a new hub in Dublin with partner Novartis to focus on R&D for sharp medical waste.
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