1. Partnering with health industry actors
Nightingale's Health Data Platform detects and connects the disease risks of individuals to the services offered by its healthcare partners for disease prevention.
2. Reaching consumers directly
Nightingale's Health Data Platform provides individual health insights directly to consumers via a mobile application, enabling early disease prevention.
Nightingale’s market entry strategy with healthcare service providers ("HSP") involves a step-by-step process. Nightingale's consumer pilot, started in 2020, was the research phase of the market entry. The purpose of the consumer pilot was to learn how people react to the health data provided by Nightingale.
The first step of the market entry was launched after the consumer pilot and it consisted of Nightingale securing its first business-to-business deal in February 2021. Nightingale expects to analyse a minimum of 75,000 samples based on the deal. Nightingale expects to gain sufficient data and information from this deal to move onto to the second step of the three-step process, in which it will secure a deal to analyse a minimum of two million samples annually. Nightingale expects that this deal will be within Europe.
Nightingale anticipates that negotiations to close the previously mentioned deals will take one to three quarters per HSP. With these deals in place, the company expects to be cash flow positive. After concluding the previously mentioned deals, Nightingale will be able to continue commercial negotiations and move onto the third step of the market entry strategy in order to close a deal to analyse a minimum of ten million samples annually in either the United States or Asia, as supported by its existing partners in those respective geographic areas. For the contracts concerning the analysis of two million and ten million samples, Nightingale expects to extend its laboratory capacity and run laboratory operations in the geographic location where the samples are located.
In the long-term, Nightingale intends to build a direct-to-consumer service. Nightingale expects that if tens of millions of people are using Nightingale's technology through its HSP partnerships in the future, it will be able to build a direct-to-consumer service that also targets consumers internationally who are not customers of the company’s healthcare partners.
Nightingale's near-term business targets are:
Nightingale's mid-term business targets are:
Nightingale's long-term business targets are: