Nightingale Health quarterly summary of achieved key milestones and reiteration of near-term business targets
Company Release
1 July 2021 at 9:25 a.m. (Finnish time)
After the commencement of trading ofin its series B shares on Nasdaq First North Growth Market in March 2021, Nightingale Health Oyj (“Nightingale”) has completed the following milestones during the quarter started in April 2021 and ended in June 2021:
- In April 2021, Nightingale’s fully owned subsidiary received clinical laboratory certification in Japan. Receiving the clinical laboratory certification prepared Nightingale for commercial launch of its service in Japan.
- In April 2021, Nightingale entered into a strategic partnership with Finland’s largest health service provider Terveystalo (TTALO.HE). Terveystalo will offer a new service utilizing Nightingale’s technology to all of its customers.
- In April 2021, Nightingale signed a service agreement for health and well-being services with a Japanese conglomerate Mitsui. Mitsui will start selling services in Japan that utilize Nightingale’s technology, via its subsidiary Welltus, and the service will first target selected medical clinics that sell preventative health check-ups to consumers.
- In May 2021, Nightingale agreed on a strategic partnership with one of Europe’s leading software development and digital design services companies, Reaktor, to scale rapidly the offering of its digital health solutions globally.
- In June 2021, Nightingale successfully completed the first phase of its at-home blood testing pilot. The first phase of the pilot demonstrated strong interest by consumers towards at-home blood testing.
- In June 2021, Nightingale secured global scalability of its at-home solution by partnering with one of the world’s leading at-home blood collection device manufacturers Weavr. With new commercial terms and a minority investment to Weavr, Nightingale is now in a position to significantly accelerate the commercial ramp-up of its at-home blood testing solution.
By achieving these key milestones, Nightingale is in a good position to accelerate its business and reiterates the new near-term business targets announced during the past quarter:
- Nightingale will launch the second phase of the at-home blood testing pilot in July 2021.
- Nightingale and Terveystalo will launch their combined offering in autumn 2021.
- Nightingale will start generating revenue from the service agreement in Japan in the second half of 2021.
- Nightingale will complete all three phases of the at-home blood testing pilot by the end of 2021.
- Nightingale will launch its commercial offering of the direct-to-consumer at-home solution in the first half of 2022.
- Nightingale will launch its commercial at-home testing offering to its business partners in the first half of 2022.
Nightingale also reiterates the near-term business targets included in the Prospectus published on 8th March 2021, and expects to reach the remaining business targets as planned:
- to sign a partnership agreement with an established healthcare service provider (accomplished in April 2021);
- to conclude an agreement to analyse at minimum 75,000 samples (accomplished in February 2021);
- to complete the FDA approval;
- to launch a new version of the Company’s mobile application; and
- to be granted the information security certification ISO27001 (accomplished in January 2021).
Teemu Suna, CEO and Co-Founder of Nightingale:
”I’m extremely proud of Nightingale’s team that has managed to successfully transform in to public company life and at the same time delivered major milestones in a very short time. After the IPO we have been fully focused to deliver milestones according to our strategy by building faster development processes and high-performance scalable execution.This work has already shown the first results in the past quarter, but this is just the beginning and we are very excited about what the new fiscal year starting today will bring.”
For further information, please contact:
Teemu Suna, CEO
ir@nightingalehealth.com
Certified Adviser:
Oaklins Merasco Ltd, tel. +358 9 6129 670
About Nightingale
Nightingale Health is a health technology company transforming preventive care. 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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