When I joined Bond Digital Health last month, as only its second ever CEO, I knew I was joining an impressive business with exciting prospects.
Now, after my first month in the role, I am even more assured that this company has exactly what it takes to become a significant player in the lateral flow market.
We have a world-class team
The quality of the people working in the business is genuinely world class. We have a strong and knowledgeable senior leadership team and an impressive, agile sales and marketing department.
But the recruitment of the development team has been particularly successful. For a small business based in this part of the world, Bond has been able to attract some top tech talent – people with the right mix of skills and experience to create world-class products.
We have a product that people need
It’s obvious that the product – Transform® – is not only market ready, but that there is a good market fit.
Demand for Transform® is already strong – the digitisation of anything to do with diagnostics, whether hospital or home based, is still an unmet need.
My experience of speaking to people in the lateral flow market is that they know who we are and what we offer, and they are pleasantly surprised about how far advanced we are already.
They are feeling the weight of expectation from their customers and the regulators about digital connectivity and data capture, and they know we have the solution.
The opportunities for Transform® are coming into sharp relief, so we should be pushing on an open door with many potential customers. The challenge for us is to make sure we don’t miss any opportunities that arise.
We have our sights set on international expansion
Bond might be based in the UK but that’s not where our story ends – we have plans to expand internationally, specifically into the North American market.
However, we need to make sure we match our ambitions with the appropriate funding strategy for growth. That’s why we are currently working on a follow-on funding round.
Our long-term plans are still to be determined. Our business model – high growth, recurring revenues – lends itself to flotation, and if we continue to grow sales, revenues and profits then that could be a logical end goal.
But when you are an agile, high-growth business like Bond, you must keep all options open.
We are ambitious
I want the name Bond to be in the minds of everybody in the lateral flow sector. Whenever someone thinks of connectivity and data capture for lateral flow they should think of Bond.
Transform® will be the go-to solution for data generating and reporting. I want that instant brand recognition in the same way that Intel has for computer chips – if you have a lateral flow test the connectivity and data management is powered by Transform®.
What’s exciting is that we are well on the way to achieving that goal.
Ian Smith, CEO, Bond Digital Health