Healthcare specialist Ultrasis saw a glimmer of hope this month despite posting losses of £769,000 in October, up 70 per cent on the year before.

Healthcare specialist Ultrasis saw a glimmer of hope this month despite posting losses of £769,000 in October, up 70 per cent on the year before.

Undaunted chairman Gerald Malone and chief executive Nigel Brabbins remain upbeat after signing a contract with BUPA for Ultrasis’ flagship product, an eight-week, web-based programme for treating depression named Beating the Blues.

The product was supposed to have been available to patients from GPs since April 2007. However, Government funding was not set aside for the move, resulting in the majority of primary care trusts struggling to meet the commitment and a slow uptake.

The current deal is for 500 patients and, although only a taster, could save BUPA money on its company healthcare schemes if adopted across the board. ‘If that works out, we’d expect to agree an annual contract with BUPA,’ says Brabbins.

As yet, the stock market remains unimpressed. Ultrasis’ AIM shares, which peaked at 3.38p in February last year, are still down at 1.01p.