Nightingale Health acquires German digital health company Yolife GmbH
Company Release
Inside Information
9 July 2021 at 9:40 a.m. (Finnish time)
Nightingale Health Plc’s (”Nightingale”) world-leading blood testing platform is complemented with Yolife GmbH’s (”Yolife”) digital health capabilities in an acquisition where Nightingale acquires all shares of Yolife. Yolife is a German digital health company that has created a mobile application helping everyone to live longer in good health through science-based lifestyle changes.
The key competitive advantage in the global health and wellness market is the ability to combine biotechnology and digital health. Nightingale’s proprietary biotechnology platform provides a holistic health analysis from a single blood sample that no other technology in the market can match. The Yolife digital health solution learns from the user’s behavior and provides the user with a holistic wellbeing strategy made of challenges that motivate and help the user to achieve their health goals. The assets of Yolife will be integrated into Nightingale’s preventative health offering and the founding team of Yolife will join Nightingale to accelerate Nightingale’s mission to deliver preventative health solutions globally.
The acquisition is expected to substantially support the development of Nightingale’s digital health capabilities particularly in the direct-to-consumer market. The Yolife acquisition, the strategic Reaktor partnership and Nightingale’s in-house high-performance team together enable Nightingale to launch a globally competitive mobile application version in the near term. The coming new mobile application will integrate Nightingale’s leading biotechnology with digital health capabilities.
Furthermore, Nightingale expects the acquisition of Yolife to support the launch of Nightingale’s at-home testing solution for consumers and business partners. The acquisition of Yolife strengthens Nightingale’s digital health capabilities and together with the earlier announced partnership with Weavr Health Nightingale aims to have a strong and rapidly growing launch of its at-home testing solution in the first half of 2022.
Yolife is an early-stage technology and service company founded in 2019, with no equity or significant revenue or debt (less than EUR 100,000). Nightingale will integrate Yolife’s capabilities as part of Nightingale’s business and does not expect Yolife’s current business to create revenue. The acquired capabilities that will be integrated will increase Nightingale’s annual operative costs by approximately EUR 350,000.
The parties have agreed that the total purchase price of Yolife’s shares is approximately EUR 740,000, of which approximately 30 per cent will be paid in cash consideration, while 70 per cent will be covered by a directed share issue of Nightingale’s Series B shares with a subscription price of EUR 6.75 per share.
The directed issue comprises of 80,179 new Series B shares in Nightingale, which correspond to approximately 0.1 per cent of all Nightingale shares prior to the directed share issue. The new shares are expected to be registered in the Trade Register on 12 July 2021, as of which date the new shares will establish shareholder rights. The new shares are expected to be admitted to trading on Nasdaq First North Growth Market on 13 July 2021. As a result of the subscriptions, the number of shares in Nightingale will increase to 60,609,633, including Series A, Series B and EMP shares. The new shares to be used in the acquisition are subject to lock-up provisions, which will terminate for Yolife’s founders if certain revenue milestones are met while the financial investors are bound by the same lock-up period as Nightingale’s shareholders (180 days from the IPO, 19 March 2021). Yolife will report as part of Nightingale from 9 July 2021 onwards.
Teemu Suna, CEO and co-founder of Nightingale:
“Nightingale is on the cutting edge of the next global megatrend in health combining its proprietary biotechnology platform with digital health. By integrating Yolife’s capabilities to our platform, we can further accelerate building the leading digital health user experience. I’ve been truly impressed to see what Yolife has managed to build in a very short time and it’s my pleasure to welcome Yolife’s team to join the Nightingale flock.”
Roope Kärki, co-founder of Yolife:
“We are excited to join Team Nightingale. We share Nightingale’s mission and want to make a difference. People deserve better health solutions and now together with Nightingale’s capabilities we can bring smarter health to everyone’s homes.”
Tassilo Weber, co-founder of Yolife:
“Digital health solutions can be a great help in improving health, but when combined with biotechnology, the possibilities are in another league. Joining Nightingale’s team is an exceptional opportunity to combine biotechnology and digital health and we are excited about what we can work together on in the future.”
For further information, please contact:
Teemu Suna, CEO
ir@nightingalehealth.com
Certified Adviser:
Oaklins Merasco Ltd, tel. +358 9 6129 670
About Nightingale
Nightingale is a technology company transforming preventive health. We envisage a world that focuses on keeping people healthy rather than just treating illnesses. By combining our pioneering blood-testing technology and the ability to detect future disease risks, we are creating a world-leading health data platform that enables preventative care with better information. The platform helps people make better personal health decisions and connects the health industry to offer their services for individuals’ preventative needs. By empowering the world with comprehensive health insights, we accelerate scientific discoveries, industry developments and improve personal health for everyone.
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