The current sick care system is at its limits, and, in order to solve the situation, it is necessary to limit the number of sick people by preventing diseases. Preventing diseases significantly increases the quality of life. Consumer interest in personal health and wellbeing has increased rapidly, creating strong demand for medical grade preventative solutions provided by the health industry and directly to consumers. Healthcare service providers (HSPs), employers and insurance companies likewise have a strong interest in preventative health.
Healthcare service providers already offer different preventive services to patients either free of charge or at an additional cost. Preventive health care has been gaining popularity in the private insurance marketplace, and insurance companies have begun to encourage beneficiaries to take advantage of preventive health services in order to lower the costs of medical treatments.
Nightingale is a key enabler of prevention as its Health Data Platform can detect from a single blood sample a person's individual disease prevention needs with regard to around 1,000 common diseases and connect that consumer to personalised health solutions to prevent diseases.
The proprietary blood test developed by Nightingale provides 250 biomarker results from one sample. The company’s technology has been transparently scientifically validated by more than 300 peer-reviewed top-quality medical publications and is utilised by the world-leading medical scientists in more than 20 countries. Its Health Data Platform has been used to analyse over one million samples, significantly outperforming competition. The company has access to several internationally significant biobanks due to reliable and long-lasting collaborations and it collaborates with world-leading medical research institutions. Together, the unique blood analysis technology and findings made in medical research create the company’s ability to holistically detect common disease risks often at a level of accuracy that outperforms the routine clinical standard blood tests.
Nightingale expects that the low price point of its products and services and innovative business model will support fast future growth. There are no technological constraints for scaling the business. The company’s laboratory analysis platforms are already established in Finland, the United Kingdom, the United States and Japan, creating a solid runway for international scaling. In Japan, Nightingale collaborates with Mitsui and Kirin, granting the two companies exclusivity in Japan, with the aim of having as broad coverage in the Japanese market as possible. The company’s technology has received regulatory approval under strict government requirements for medical devices in Europe. The company expects to receive regulatory approval in the United States and certification of laboratory in Japan during the year 2021.
Nightingale’s business model utilises existing blood sample flows of the healthcare industry minimising the additional costs and processes of the company’s partners and patient burden in the implementation of the Health Data Platform. Nightingale's business model accelerates business growth and profitability of current players in the health industry by detecting personal preventive needs on a mass scale by combining demand with preventive health services. Instead of selling tests, the company charges for the use of its Health Data Platform and for new business transactions. This lowers the risk for the Nightingale's partners, because the company charges based only on actual business value.
Nightingale's low price point and primary care focus combined with consumer demand and fundamental need for preventive health makes the company’s business model strongly non-cyclical.
Educating people with better information is proven to enable better decision making on an individual level opening the possibility for promoting personal health and well-being. Empowering people with the Nightingale's personalised health information is a strong strategy in comparison to general population level health guidelines because the Nightingale's approach is actionable and measurable on an individual level.
Nightingales’s personalised health information gives everyone better tools to make active prevention actions instead of relying only on the existing medical system. Empowering people as active participants in disease prevention enables better use of different medical professionals, such as nurses and nutrition therapists, to help with early prevention. Nightingale does not sell personal data to third parties but gives its customers the power to decide how the information is utilised.
Nightingale has an experienced Management Team with a broad combination of competences. All members of the company’s Management Team have vast cumulative experience in their relevant fields of expertise, which include technology, bioanalytics, management, business economics and finance, consumer business, digital products, law and specific regulation in the healthcare industry. Members of the company’s Management Team have acted as entrepreneurs and worked for consulting companies, scientific research, technology companies, growth companies, software business, consumer business and legal expert tasks.
The company has an experienced Board of Directors, headed by the Chairman of the Board Timo Soininen, who currently serves as, among others, the Chairman at Small Giant Games Oy and Spinnova Oy. The Board of Directors also includes Leena Niemistö, who is one of the most prominent and influential decision makers in Finnish business life, an awarded board professional and experienced startup investor. The company has also a Scientific Advisory Board composed of professors from the University of Bristol in the United Kingdom, the University of Cambridge in the United Kingdom, Leiden University in the Netherlands and Tufts University in the United States.