Nightingale Health signed service agreement for health and well-being services in Japan
Company release
Inside information
29 April 2021 at 9:15 a.m. (Finnish time)
Nightingale Health Plc, Nightingale Health Japan KK, a fully owned subsidiary of Nightingale Health Plc (together “Nightingale”), and Welltus Inc., a fully owned subsidiary of Mitsui & Co. Ltd have entered into a service agreement to sell health and well-being services in the Japanese market.
With the agreement, Mitsui will start selling services that utilize Nightingale’s blood analysis technology, via its subsidiary Welltus. Welltus is building its wellness and prevention platform in the Japanese market, with the aim to contribute to the creation of a society where people can live healthier lives and address the national issue of rising medical costs.
In 2019, Nightingale and Mitsui announced their strategic partnership and Mitsui’s investment in Nightingale. Entering into the service agreement realizes the parties’ strategy to collaborate in the Japanese market. The service agreement is a framework agreement based on which the parties will launch several new health and well-being services in Japan. Nightingale’s role in the collaboration is to provide its blood analysis technology and ability to comprehensively identify disease risks, whereas Mitsui and its subsidiary will market and sell the services. The parties will share the revenue from these services.
The first service based on the service agreement will be launched in the second quarter of 2021. Nightingale expects that the service agreement starts generating a revenue stream for Nightingale in the second half of 2021. The service will provide consumers with information of risk of developing lifestyle-related diseases, and it aims to motivate consumers to take action to reduce disease risks. The service will in the first stage be available in selected medical clinics that sell preventative health check-ups to consumers. Nightingale considers the service agreement as a major milestone in the global commercialization of its Health Data Platform.
Teemu Suna, CEO and Co-founder of Nightingale:
“With a population of around 126 million people and one of the most advanced health care systems in the world, we see great potential in the Japanese market, and it has been a part of our key strategy for a long time. After successfully setting up a laboratory in Tokyo, we are truly excited to take this next step of launching the first Nightingale service for Japanese customers.”
Toshitaka Inuzuka, General Manager, NutriScience Division of Mitsui:
“There is a clear demand for new preventative health and well-being solutions in Japan. We have seen many from our network in the health and wellness segment express a strong interest in Nightingale’s services, and Nightingale’s innovative and uncompromising scientific approach is valued. We believe in a great growth potential for Welltus and Nightingale going forward together. Collaboration with Nightingale plays a key role to realize our strategy.”
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.
About Mitsui
Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 132 offices in 65 countries as of April 2021, and revenue of 63.2 billion USD as of March 2020. Utilizing its global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Wellness, Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Mobility, Chemicals, Energy, Food, Food & Retail Management, IT & Communication Business, Corporate Development Business. Mitsui is actively taking on challenges for global business innovation around the world.
About Welltus
Welltus is a subsidiary company newly established by Mitsui to deliver science-based analysis and solutions to improve health outcomes. The Company leverages Nightingale’s innovative blood test service and customer-friendly way of visualizing health conditions to help people change their long-term habits and thereby live healthier lives. The Company also utilizes Mitsui’s wide range of network and business portfolio especially in health-care and wellness space to create synergy and expand its service rapidly.
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