Inside information: Nightingale Health and Innoquest Diagnostics enter into collaboration agreement to make Nightingale Health’s technology accessible in the Southeast Asia region
Company release, Inside information
15 November 2023, at 9:15 a.m. (EET)
Nightingale Health, the health risk detection and preventative health pioneer, and Innoquest Diagnostics (“Innoquest”), a leading clinical diagnostics service provider in Singapore, have joined forces to enable access to Nightingale Health’s blood analysis technology in Southeast Asia.
Innoquest is a subsidiary of Pathology Asia, one of the largest diagnostic service providers in Southeast Asia. Pathology Asia currently operates laboratories in Singapore, Malaysia, Vietnam, Philippines, Thailand, Indonesia, and Australia, offering clinical diagnostic services to a resident population exceeding 500 million.
Under the agreement, Nightingale Health will collaborate with Innoquest to deploy its technology to perform the blood test in Singapore and launch Nightingale Health’s comprehensive and high-quality blood testing services by the end of the first half of 2024. The blood test will be offered by Innoquest to healthcare providers in Singapore and regionally through the other companies within the Pathology Asia group.
This important agreement fulfills the first of Nightingale Health’s business targets for the financial year 2023–2024. The agreement achieves the target of forming an international commercial contract with a healthcare industry partner with significant reference and contract value since it makes the company’s blood analysis technology available through a partner with a significant market share in a large region.
“Clinical diagnostics has always been and will continue to be instrumental for clinical decision-making. The effective deployment of population-level diagnostic testing is critical if we are to combat the epidemic growth of non-communicable diseases. We are proud to embark on this partnership with Nightingale Health to make their innovative technology accessible, complementing our existing portfolio of diagnostic tools for all medical providers in Singapore and the wider Southeast Asia region. Innoquest Singapore is Pathology Asia’s flagship operation, and we are excited to launch this new technology in Singapore, a country which has led the way in early adoption of new technologies and innovative new practices. It is also timely that this new technology is launched just as Healthier SG begins its rollout,” said Dr. Christopher Ting, Pathology Asia’s Founder and CEO.
“We are very excited to start our partnership with Pathology Asia and to make our technology available in the Southeast Asia region. The partnership further demonstrates the unique value that Nightingale Health can bring to preventative health and high-volume clinical use cases and is another substantial milestone for Nightingale Health in clinical implementations this autumn. It truly seems that our mission in preventative health, which started 10 years ago, is becoming a reality, and we are delighted to see rapid progress towards a healthier world,” said Teemu Suna, Nightingale Health’s CEO and Founder.
“We recognize Singapore’s health ecosystem as one of the most advanced globally, and we have already been privileged to serve multiple medical research institutions in the country for several years. This significant milestone, which makes our technology locally available, allows us to contribute to the ambitions of preventative health in Singapore,” said Satu Saksman, COO and Co-founder of Nightingale Health, who will be leading the partnership commercially and establishing Nightingale Health’s operations in Singapore.
“Early disease risk detection and preventative health strategies can have a significant impact on the burden of healthcare costs on a nation. The Singapore health authorities are leading the way in recognizing that preventative health is the way forward, with programs such as Healthier SG. We are delighted to have the opportunity to improve the health of Singaporeans by using our cutting-edge technology in collaboration with Innoquest Diagnostics and Pathology Asia," said Dato Paul Supramaniam, Board Member of Nightingale Health Asia Pte. Ltd.
For further information, please contact:
Teemu Suna, CEO
ir@nightingalehealth.com
Certified advisor:
Oaklins Merasco Ltd, tel. +358 9 6129 670
About Nightingale Health
Nightingale Health is The Preventative Health Company. Staying healthy is one of the top priorities in human life. Our health has a profound impact on our quality of life, and it’s also strongly connected to the lives of those close to us. Nightingale Health enables prevention by combining the power of our in-house developed, advanced blood analysis technology with unprecedented access to global health repositories and world-leading medical research. With this combination, we go beyond the traditional healthcare and wellbeing tools: We provide the scientific connection to multiple health and disease outcomes and the ability to predict future healthy years.
Nightingale Health operates globally with a parent company in Finland and seven subsidiaries in countries such as Japan, the United States, Singapore, and the United Kingdom. Nightingale Health has customers in more than 34 countries in the healthcare and medical research sectors. The company’s technology is being used in many of the world’s leading health initiatives, such as the UK Biobank, and over 530 peer-reviewed publications validate the technology. The company’s Series B shares are listed on the First North Growth Market Finland marketplace. Read more: https://nightingalehealth.com
About Innoquest Diagnostics
Innoquest Diagnostics Pte Ltd emerged from the merger of Innovative Diagnostics and Quest Laboratories, which have served the Singaporean medical community for over 25 years. Operating from eight facilities nationwide, Innoquest is the largest independent and internationally accredited diagnostics providers in Singapore, performing tests from over 3 million patients referrals annually. Innoquest aspires to be Singapore’s preeminent clinical diagnostics provider, by developing enduring partnerships and fostering deep engagement with the medical provider community. This ensures our partner clinicians are armed with timely, insightful, and actionable information from the most innovative and advanced diagnostics tools available globally. Innoquest’s unwavering commitment is to continually advance access, experience and outcomes for all who live in our community.
About Pathology Asia
The Pathology Asia Holdings Pte Ltd is a leading diagnostic service provider in Southeast Asia, and is headquartered in Singapore. The Pathology Asia group includes leading diagnostic laboratories in Singapore, Malaysia, Vietnam, Philippines, Thailand, Indonesia, and Australia, with a specialised genomics division and a digital health division. Pathology Asia’s goal is to enable affordable access to high quality and comprehensive diagnostic service to the entire population of Southeast Asia.
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