Seegnal extends contract with Maccabi for six years

Executive Summary

• Seegnal Inc. has amended its contract with Maccabi Health Services, Israel’s second-largest healthcare management organization, extending the partnership for an additional six years through September 22, 2031.
• The agreement expands the scope of Seegnal’s patented prescription co-pilot platform to include all of Maccabi’s nationwide pharmacies and additional nurses, moving from a fixed-base model to a software-as-a-service (SaaS) model based on quarterly recurring license fees.
• The expansion is expected to generate additional revenue for Seegnal and integrates its technology into Maccabi’s ERP system, aiming to reduce medication alert loads by up to 94% and improve patient safety and clinician efficiency.

Key Details

• Contract Extension: The amended agreement extends Seegnal’s contract with Maccabi Health Services for an additional six years, ending on September 22, 2031.
• Contract Option: Maccabi holds an option to extend the agreement further by two years under the current terms.
• Scope Expansion: The platform will now cover all of Maccabi’s pharmacies and additional nurses, broadening integration beyond electronic health records to the ERP system nationwide.
• Pricing Model Change: The contract structure has changed from a fixed-base contract to a SaaS-based model based on quarterly recurring license fees.
• Target Market: Maccabi Health Services serves over 2.6 million Israelis and is noted for its use of technology and patient-centered care.
• Performance Metrics: Seegnal’s platform is reported to reduce clinician alert loads by over 90% (with a cited study showing up to 94% reduction) and achieve up to 98% accuracy in patient-specific alerts.
• Current Adoption: The platform is currently a standard of care system for over 10,000 clinicians in Israel.
• Geographic Presence: Seegnal is marketing its SaaS platform in Israel, the United Arab Emirates, the United Kingdom, the United States, and Poland.

Notable Quotes

• "This partnership is a testament to the measurable impact Seegnal delivers for health care providers who adopt a high patient-centric standard at the point of care over the traditional drug-to-drug interaction standard... This expansion also reinforces our strategic growth trajectory and positions us to scale our impact across broader markets." — Eyal Schneid, CEO
• "The new agreement extends through Sept. 22, 2031... It reflects growing demand for Seegnal's platform, which in a 2021 study published in the U.S. National Library of Medicine... demonstrated the ability to reduce alert load by up to 94 per cent, lower medication-related costs and improve clinician satisfaction." — Eyal Schneid, CEO