1. Cooperation with health and wellbeing service providers
Nightingale detects and connects the disease risks of individuals to the services offered by its healthcare partners for disease prevention. Nightingale expects to invoice its partners as follows:
2. Reaching consumers directly
Nightingale provides individual health insights directly to consumers via a mobile application, enabling early disease prevention. Nightingale expects to invoice consumers as follows:
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 business targets for the financial year 2021–2022
FDA (U.S. Food and Drug Administration) approval
Launching a new version of the company’s mobile application
Launching a commercial service based on the at-home test
To sign an international commercial partnership agreement
Reaching an order book of EUR 5 million by the end of the financial year
Nightingale's near-term business targets published in connection with the IPO
Nightingale's mid-term business targets
Nightingale's long-term business targets