Company release

Inside information

22 April 2021, 10:00 a.m. (Finnish time)

Nightingale Health Plc (”Nightingale”) and Suomen Terveystalo Ltd (”Terveystalo”) have entered into a strategic partnership agreement. With the agreement, Terveystalo will start developing new well-being services by utilizing Nightingale’s blood analysis technology, which measures the prevention needs related to the body's well-being and health. Based on the cooperation, a new subscription service will be built, which can be used through the Terveystalo application. The new service will be launched to all Terveystalo’s customers in autumn 2021. By signing a partnership agreement with an established healthcare service provider Nightingale has achieved one of its short-term business targets.

The partnership agreement is a framework agreement according to which Terveystalo will acquire services that are based on Nightingale’s Health Data Platform and Nightingale and Terveystalo will together develop new services to be provided to consumers. The partnership aims to provide people with new kind of health information that supports and motivates lifestyle change, thus giving the possibility to better prevent lifestyle diseases. The partnership agreement includes also an option to utilize Nightingale’s at-home testing capability.

The new consumer services that will be developed will combine the health insights of Nightingale’s Health Data Platform with the wellbeing services provided by Terveystalo, and the parties will share the revenue from these services. The partnership agreement provides Terveystalo exclusivity to act as Nightingale’s private healthcare provider partner in Finland, and Terveystalo commits to providing the service to its customers. The first version of the service includes a set of digital lifestyle coaching, research-based tools to increase your own well-being, and regular measurements with Nightingale technology to encourage lifestyle change. Nightingale considers the partnership agreement a major milestone in the commercialization of its Health Data Platform.

The partnership agreement is valid at least until the end of 2025, provided that by June 2023 the parties achieve targets that will be defined together during the collaboration. The partnership agreement includes also a possibility to expand the collaboration to other Nordic countries and the Baltic region.

Teemu Suna, CEO and Co-founder of Nightingale:

“Nightingale’s mission is to bring disease prevention and a healthier life within everyone’s reach. Cooperation with Terveystalo is an important step for us in fulfilling our mission. Our goal is to support healthcare providers in providing their customers with better preventive health information and motivate them towards a healthier life.”

Veera Siivonen, Terveystalo’s Senior Vice President of Consumer Business:

“People are becoming more and more interested in utilizing measured data about their health. That is why we want to better meet the needs of health-conscious consumers. Our idea is to combine Nightingale's unique blood analysis technology and the health information platform they have developed with Terveystalo's comprehensive health and well-being services. We are launching the service at an affordable monthly fee of EUR 9.90 and offering it to all our customers. We are launching the service in this form, because well-being belongs to everyone and requires constant care and commitment.”

Petri Bono, Terveystalo’s Chief Medical Officer:

“With the Nightingale method, Terveystalo is able to use the latest medical technology as part of well-being services. In this way, we bring our customers an even more diverse set of concrete tools to promote their own health.”

For further information, please contact:

Teemu Suna, CEO
ir@nightingalehealth.com

Certified Adviser:
Oaklins Merasco Ltd, tel. +358 9 6129 670

About Nightingale

Nightingale Health is a health technology company transforming preventive care. We envisage a world that focuses on keeping people healthy rather than just treating illnesses. By combining our pioneering blood-testing technology and the ability to detect future disease risks, we are creating a world-leading health data platform that enables preventative care with better information. The platform helps people make better personal health decisions and connects the health industry to offer their services for individuals’ preventative needs. By empowering the world with comprehensive health insights, we accelerate scientific discoveries, industry developments and improve personal health for everyone.

About Terveystalo

Terveystalo is Finland's largest health service company in terms of revenue and network, with the aim of empowering lifelong health and well-being and building a healthier society. The company provides comprehensive well-being, primary care and specialist care services to corporate and private customers, as well as the public sector. Terveystalo's digital appointment services are available 24/7, regardless of time and place. In addition, the company offers health and well-being services in more than 300 locations throughout Finland.

In 2020, Terveystalo had 1.2 million individual customers. Some 6.9 million customer visits were made, of which more than a quarter took place in remote channels. Terveystalo employs more than 13,000 health and well-being professionals.