A beachhead is defined as ‘an area of land near the sea from where an attacking army can move forward into enemy country’.
The US celebrated Independence Day this week and the British armies may well have used such a tactic when fighting their losing war against the US around 250 years ago.
A modern and altogether more palatable ‘beachhead’ strategy now sees companies plotting successful expansion into new territories or markets. Oxford scaleup Navenio is looking to do just that as it grows Stateside.
“As with any launch in a new geographic region or market, a company must create a beachhead,” US-based Connie Moser, recently appointed CEO at the ‘indoor GPS’ company, tells TechBlast.
“We have established that beachhead with a level one trauma centre in Tennessee. As that work progresses, we have started many conversations across the nation with medium-to-large health systems and other potential technology partners. The interest is great and our conversations are progressing nicely.
“I would look at three criteria when entering new geographic regions and/or market segments: know the market you would like to enter – the need, value, pain points; understand your key competitors; and identify the most effective sales strategy.”
Navenio, which develops health and location solutions and recently raised £9.5 million in fresh investment, turned to Moser earlier this year. The former CEO of Verge Health and president/COO of Rise Health has more than 30 years of experience in healthcare strategy, sales and operations, including building large-scale businesses across global markets.
“With an expected launch in the United States, the company was looking for a leader with US growth experience, both in healthcare and logistics,” explains Moser. “With my previous experience in supply chain, operating theatre, capacity management and asset optimisation within healthcare, the combination seemed like a good fit to drive business growth.”
Navenio’s mission is to maximise patient flow in key departments such as imaging and logistics, a key issue limiting the ability of hospitals to improve both clinician and staff productivity, and patient throughput.
The business is already performing very well – it saw a 153% increase in revenue in 2021 – but the massive US market presents a huge opportunity for further growth.
“As you know, the backlog due to COVID is a real issue across both UK and US healthcare markets,” says Moser. “However, we’re helping to drive patient flow improvements that allow clinicians to return to the bedside; examples include efficient transports to radiology to allow for quicker discharge, quicker bed turns to allow for quicker patient placements.
“Similar to the UK and the rest of the globe, the healthcare system in the US has felt significant increased pressure over the past two years due to the pandemic, and this has continued. The health service is suffering here as it is in the UK, and patients need more when it comes to optimum care.
“Real-time location technology allows for the right person to be in the right place at the right time. The opportunities for AI led locations services in healthcare are huge, from reducing patient waiting times, supporting clinical staff in a hospital environment and most importantly improving patient care.”
Moser says there are three parts to the business’s growth plans over the next year and beyond: UK expansion, establishing a firm footing within US healthcare and identifying and growing other business opportunities within the real-time locations sector.
Asked for one piece of advice she would offer a startup entrepreneur, she says: “Look at the business with clear eyes; try many approaches and fail fast; and have fun. It is quite a ride!”