Irish medical technology company HealthBeacon has opened a new recycling and R&D center in Dublin to deal with injectable waste in a more sustainable way.
healthBeacon’s products help patients manage injectable medications at home. Its smart sharp pods – which recently signed a major US distribution deal – track injections and remind patients when to take their shots.
The company currently employs over 50 people at its Dublin headquarters and operates in 17 countries including the US, UK and the Netherlands.
The new Green Labs facility in Dublin is a partnership with Swiss pharmaceutical company Novartis – the companies’ first joint venture – which will provide reusable sharps containers for Rheumatology, Dermatology and Neurology patients at Novartis.
The full waste container is then collected from the patient’s home, washed and returned to the patient for reuse.
According to the World Health Organization, an estimated 16 billion injections are given worldwide each year. HealthBeacon says its smart containers have resulted in a 26 percent improvement in patient adherence to injectable medications.
Tánaiste and Enterprise Minister Leo Varadkar, who helped open the green lab, said medical waste is “a particular challenge given the need to ensure quality and safety standards are high and consistent and sterile to prevent infection.”
“Unfortunately, today, billions of injectable waste devices and hundreds of millions of puncture-resistant containers end up in landfills, landfills or incinerators,” said Jim Joyce, chief executive and co-founder of HealthBeacon.
“Today, in partnership with Novartis in Ireland, we are taking a major step to reverse these unsustainable practices by opening our new EPA-licensed Green Labs facility. This facility will enable us to sustainably process sharps containers and injection waste across Ireland.”
Audrey Derveloy, Country President of Novartis Ireland, said the partnership could help “provide a fully circular pharmaceutical supply chain for patients in Ireland and bring Novartis closer to its goal of being carbon neutral across our supply chain by 2030”.
Novartis Ireland currently employs around 1,500 people at three locations in Dublin and Cork.
In its most recent full-year results, HealthBeacon said it expects to turn profitable in 2023 as it builds on strong revenue growth and a recent public offering.
Chief Executive Jim Joyce said the primary reason for HealthBeacon’s recent listing is “to be able to capitalize on these customer opportunities more quickly.”
The US distribution agreement will see HealthBeacon ship up to 15,000 units this year through one of the leading US specialty pharmacy and insurance groups.
It aims to deploy a total of 35,000 of its smart sharps this year, despite rising material and shipping costs, which Mr Joyce said he’s managing “really, really tight”.
“We have moved forward and secured long lead parts and we will have enough product to meet our 2022 needs. We like that.”
Sales increased by 84 percent to 2.21 million euros at the end of December 2021, the company announced yesterday, against the background of a 122 percent growth in unit numbers.
It was HealthBeacon’s first full-year results as a public company.
HealthBeacon is powered by Enterprise Ireland.
https://www.independent.ie/business/jobs/healthbeacon-and-novartis-launch-new-dublin-lab-for-medical-waste-41532812.html HealthBeacon and Novartis open new medical waste laboratory in Dublin