Formation of Cantab Corporate Health Limited

RNS Number : 5678Z

Cambridge Cognition Holdings PLC

21 September 2015

 

Cambridge Cognition Holdings Plc

('Cambridge Cognition' or the 'Company')

Cambridge Cognition forms Cantab Corporate Health Limited

Cambridge Cognition Holdings plc (AIM: COG), which specialises in computerised neuropsychological tests including those enabling the early detection of dementia, announces it has entered into an agreement with Shandwell Ltd ('Shandwell') to launch Cantab Corporate Health Limited ('CCHL') and that CCHL has secured its first contract.

CCHL will be dedicated to working with employers and their healthcare providers in delivering sensitive and accurate cognitive assessments in all relevant workplace settings using the proprietary CANTAB™ tests from Cambridge Cognition. The tests are run through iPads and provide reports in minutes, helping identify problems which can then be managed in the workplace. CCHL's business development will be managed by Shandwell, a consultancy business specialising in improving the health and wellbeing of the working population, in return for a minority equity stake in the new entity.

CCHL will deliver a new revenue stream to Cambridge Cognition through licensing revenues, royalties and product sales, and it will create a vehicle to access the growing global corporate sector that isn't targeted by the Company's current marketing channels.

Occupational health is a very significant near term opportunity. Managing the associated risks of cognitive health is now on the international employer agenda with new initiatives such as The Alzheimer's Society guide for dementia friendly employers. Over 1.3m UK employees now work for employers signed up to the Charter of Employers who are positive about mental health. These trends translate to a UK market, for work related cognitive health assessments, which the Directors estimate to be worth in excess of £26m per annum. 

Significantly, CCHL has already signed its first contract with a UK provider whose clients include some of the world's leading employers.

Dr Steven Powell, Cambridge Cognition's Chief Operating Officer, said: "With an ageing working population, there is an increasing need to manage the associated cognitive health risks. Our technology is being used widely in primary care, research and pharmaceutical development. This new venture with Shandwell, which has an excellent track record of introducing innovation into the corporate health and wellbeing sector, will demonstrate the benefits of our products on an even wider scale." 

John Picken, Managing Director, of Shandwell said: "There is a growing understanding that cognitive health determines what work we can do and for how long. Closely linked to physical health, it also has a significant impact on performance and productivity. This new venture will give all stakeholders in the health of the working population the opportunity to measure and help manage cognitive health using the latest digital health tools. The tests are culturally neutral, language independent and applicable across all ages and in all occupations from the shop floor to the boardroom. We already have a strong interest for our offer in the UK and considerable global interest."

For further information visit www.cantabcorp.com 

Enquiries:

Cambridge Cognition Holdings plc	www.cambridgecognition.com
Steven Powell, Chief Operating Officer	Tel: [phone]
Nick Walters, Chief Financial Officer
finnCap Ltd (Nomad and Broker)	Tel: [phone]
Geoff Nash/Simon Hicks		(Corporate Finance)
Malar Velaigam	(Corporate Broking)
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Lianne Cawthorne	Mob: [phone]
Paul McManus	Mob: [phone]

About Cambridge Cognition

Cambridge Cognition is a world leading provider of computerised cognitive assessment products. The company's range of touch-screen CANTAB™ neuropsychological tests, highly validated over one thousand peer-reviewed publications, are used by both academic  scientists  in their research, and clinical researchers in the pharmaceutical industry, to maximise knowledge of cognitive function.  In addition, the company is committed to broadening the access to this technology and is developing clinical healthcare products to improve the monitoring, management and maintenance of cognitive health and wellbeing.  Using these assessments, clinicians can identify and stratify patients so that patient referrals are accurate and efficient, enabling health and social care providers to deliver more effective advice, treatments and care - leading to better outcomes for patients and their families. 

About Shandwell Ltd

Shandwell was established in 2008 by John Picken, ex CEO of Third Party Health Administrator, Medisure. Specialising in improving the health and wellbeing of the working population, it has worked on projects with employers, healthcare providers and government agencies. It has been responsible for developing new and award winning propositions, including managing the key health risks of cancer and obesity. Just prior to forming Cantab Corporate Health with Cambridge Cognition, Shandwell supported a group of some of the world's leading neurologists.

 

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