Summary of Financial Year 7/2023 - 6/2024: Nightingale Health achieved several breakthroughs in adopting the company’s technology in healthcare
Nightingale Health Plc
Press release
3 July 2024 at 4:35 p.m. (EEST)
Nightingale Health Plc (“Nightingale Health”), a pioneer in disease risk detection and preventive health reached multiple milestones in adopting its technology in healthcare settings during the financial year July 2023 – June 2024. The milestones ranged from pilots to a nationwide implementation replacing traditional blood testing with Nightingale Health’s advanced disease risk detection capability. These achievements align well with the updated strategy that the company announced early in the financial year, and demonstrate significant progress in Nightingale Health’s mission to make healthcare more sustainable worldwide.
In August 2023, Nightingale Health announced an agreement with Suomen Terveystalo Oy (“Terveystalo”) to adopt Nightingale Health’s technology in nationwide occupational healthcare in Finland. In Finland, occupational healthcare is a core part of the primary healthcare system and through the partnership with Terveystalo, Nightingale Health’s technology is used to screen 30% of the working population in Finland. By the end of the financial year, Nightingale Health had empowered hundreds of healthcare professionals with better tools for preventive health and more than 50,000 individuals had benefitted from the multi-disease risk detection enabled by the company’s technology. The first data analysis results were published in aggregate level in the last quarter of the financial year, demonstrating the power of Nightingale Health’s technology to enable a preventive national healthcare system instead of the current reactive approach.
In the third quarter of the financial year, Nightingale Health announced that it acquired Welltus Inc. to strengthen and expand its business in Japan. With the acquisition Nightingale Health is in an excellent position to capitalise the established network of more than 200 hospitals in Japan and seek for new partnerships to expand the use of company’s technology in one of the major healthcare markets in Asia.
Over the financial year Nightingale Health has been working on two new laboratory implementations, one in Singapore and the other in the United Kingdom. In Singapore, Nightingale Health announced a partnership agreement with Innoquest Diagnostics. Innoquest is a subsidiary of Pathology Asia, one of the largest diagnostic service providers in the South-East Asia region. Through this partnership Nightingale Health is in an excellent position to address the rapidly developing Singaporean market, but also more broadly the South-East Asia region with a population of around 500 million people. In addition to establishing a new laboratory in the UK, Nightingale Health completed the analysis of all 500,000 samples in the UK Biobank and created the world’s largest blood biomarker database for chronic disease research. No other company in the world has managed to reach a similar level of scientific scrutiny and medical evidence as Nightingale Health in understanding chronic diseases. This not only creates a strong position to offer Nightingale Health’s technology in the UK but also worldwide to the most demanding primary healthcare use cases.
In the United States, Nightingale Health announced two strategic partnership deals at the end of the financial year. One of the deals was made with Boston Heart Diagnostics and the other with 23andMe. These partnerships together with the company’s earlier announcements with Kaiser Permanente, Weill Cornell Medicine and Mass General Brigham are key initiatives driving the adoption of Nightingale Health’s technology in the United States. By working with some of the strongest healthcare organisations in the US, Nightingale Health is well positioned to seek further growth in the world’s largest healthcare market.
Nightingale Health also announced late in the financial year that the company has acquired all intellectual property assets of the VelvetTM blood collection device. The acquisition secures Nightingale Health’s position as the sole provider of a fully integrated remote health check solution. The VelvetTM technology will be utilised in the partnerships with 23andMe and also with ZOE, a UK based wellbeing company, in another partnership announced late in the financial year.
In summary, over the financial year of July 2023 – June 2024, Nightingale Health has demonstrated breakthroughs in several areas to drive the adoption of company’s technology in healthcare settings. The company is well positioned to seek for further breakthroughs in the new financial year.
For further information, please contact:
Teemu Suna, CEO
ir@nightingalehealth.com
About Nightingale Health
Nightingale Health’s mission is to build sustainable healthcare and reduce health inequalities. Nightingale Health has developed the world’s most advanced health check that provides risk detection for multiple chronic diseases from a single blood sample. Nightingale’s Health Check can be scaled to entire populations at a low cost, and it can replace many of the current clinical risk assessments. Detecting disease risks on a population level allows for the effective targeting and tracking of health interventions, and better prevention of the onset of chronic diseases. With every sample we help to create a healthier world.
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 600 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
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