Nightingale starts piloting corporate health service in Japan
Translation: Original comment published in Finnish on 11/18/2021 at 10:10 am.
Nightingale Health announced that it is piloting a corporate health service in Japan with conglomerate Mitsui. The pilot will consist of on-site blood draws at Mitsui’s headquarter in Tokyo, and the participants will receive their personal Nightingale blood test results at each phase of the pilot. According to the release, participants are encouraged to make positive lifestyle changes based on their results, and they can easily follow their progress with follow-up tests. According to Nightingale, similar services can in future be provided by utilizing its at-home testing solution. The first phase of the pilot starts today, the second phase in December and the third phase during Q1/2022.
The pilot is an opening for Nightingale in corporate health services. We feel that as an investor in Nightingale, Mitsui is a natural partner in the pilot, which offers Nightingale the opportunity to gather evidence of the benefits of its services in improving employee wellbeing. If the pilot is successful there is clear room for expanding Nightingale’s service in the Mitsui group alone (130 offices in 63 countries, ~45,000 employees), although in the longer term, greater potential lies in expanding the service to other companies.
Corporate health services are another opening in expanding the distribution of Nightingale's technology and services, which the company has been promoting very actively since the IPO. All of Nightingale’s commercial services are still in an early stage, so there is no clear evidence of their attractiveness as of yet. The key issue for the company's business creation and success is, in our view, the development of the attractiveness of its services of which signs will slowly be collected over the next few years.
Nightingale Health
Nightingale Health operates in medical technology. The company specializes in the development of medical devices. The product portfolio is broad and includes platforms and services in blood tests that are used for disease prevention purposes. In addition to the main business, service and associated ancillary services are also offered. The business is run globally with the largest presence in Europe.
Read more on company pageKey Estimate Figures2021-09-16
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 2.1 | 2.9 | 8.8 |
growth-% | 31.88 % | 39.36 % | 203.45 % |
EBIT (adj.) | -5.3 | -7.1 | -13.2 |
EBIT-% (adj.) | -253.63 % | -245.37 % | -150.02 % |
EPS (adj.) | -0.13 | -0.13 | -0.23 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | - | - |
EV/EBITDA | - | - | - |