Company release, 5 July 2022 at 08:30 a.m. (EEST)
Inside informationNightingale Health's financial year ended on 30 June 2022. During the financial year 2021 - 2022, Nightingale Health achieved the following business targets communicated in the Financial Statements Release published on 15 September 2021:
- Launch of a commercial service based on the at-home test
- Launch of a new version of the company's mobile application
- Signing of an international commercial partnership agreement
In addition, the company achieved several other milestones in the financial year, such as the launch of a new wellbeing service with Terveystalo, the largest healthcare provider in Finland, launch of a preventative health service in Japan and acquisitions of Yolife GmbH and Negen Oy.Nightingale did not achieve the following business targets within financial year 2021 - 2022:
- FDA (U.S. Food and Drug Administration) approval (approval process still ongoing)
- Reaching an order book of EUR 5 million (reached order book of EUR 3.8-4.0 million, which is approximately 1.5 times higher than at the end of the previous financial year)
Launch of a commercial service based on the at-home test
Nightingale Health and major Finnish pharmacy chain Yliopiston Apteekki entered into a nationwide distribution agreement of Nightingale Health's at-home testing solution. A service based on the Nightingale Home service model came available to Yliopiston Apteekki's online store in December 2021. The service also came available in Yliopiston Apteekki's pharmacies in spring 2022.
Launch of a new version of the company's mobile application
A new version of Nightingale Health's mobile application was launched in March 2022, when the company launched a consumer service Livit by Nightingale Health. The service utilizes Nightingale Health's at-home testing solution, allowing consumers to use the service without having to visit a laboratory. The new mobile app provides a wide variety of results unique to Nightingale Health. The results include the following metrics analyzed from a finger-prick blood sample: Healthy Years, Heart Disease Resistance, Heart Age, Diabetes Resistance, Mind Resilience, Immune Resilience, and Immune Age, as well as several Blood Test Contributors (Cholesterol Balance, Fatty Acid Balance, Dietary Fatty Acids, Low-grade Inflammation and Metabolic Efficiency).
Signing of an international commercial partnership agreement
In June 2022, Nightingale Health signed a partnership agreementwith Physitrack Plc, a leader in the global digital health space. The commercial partnership expands the availability of the Livit service to Germany, the UK, and in the Nordics by adding Livit as a key feature to Physitrack's wellness product Access. The Livit service is already available via Physitrack in Sweden, and will be available in the UK and Germany later in the year 2022.
FDA (U.S. Food and Drug Administration) approval
Nightingale Health is in the process of applying for FDA approval that allows the use of Nightingale Health's analysis technology in diagnostichealthcare solutions in the United States. The processing time of the application has been longer than expected, due to reasons not attributable to the company, and the approval has not been granted yet. Nightingale Health will continue the process with FDA and receiving FDA approval remains to be a business target for financial year 2022 - 2023.
Reaching an order book of EUR 5 million
Nightingale Health's order book at the end of financial year 2021 - 2022 was EUR 3.8-4.0 million (preliminary). The order book contains mainly commitments from international business to business customers. The order book is approximately 1.5 times higher than the order book at the end of the financial year 2020 - 2021.
Nightingale Health will release its Financial Statements Release for 1 July 2021 - 30 June 2022 on Thursday, 29 September 2022.
For further information, please contact:
Teemu Suna, CEO
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.