Finland’s Nightingale flags IPO plan, names Soininen Chairman

Finnish health tech company Nightingale Health said  Timo Soininen, co-founder and former CEO of Small Giant Games, has joined the company as Chairman at a time when Nightingale is now rapidly expanding the global commercial B2B and B2C operations of its health data platform as well as exploring the possibilities of an IPO in the coming months.

“Nightingale’s health data platform has a leading-edge in the global megatrend of consumers wanting to manage and improve their health,” Soininen said in a statement.

Soininen is the co-founder and former CEO of Small Giant Games, whose revenues grew from zero to 328 million euros in three years.

“We are thrilled to have Timo join us. His vast experience in building consumer-centric companies in the digital world will play a key role in Nightingale’s next phase of growth, as we aim to build a more sustainable, engaging and people-oriented preventive healthcare system,” said Teemu Suna, founder and Chief Executive of Nightingale

Nightingale’s health data platform is a unique combination of new blood-testing technology and an ability to use the blood-based data to detect future disease risks.

“Next, our goal is to utilise the platform’s capabilities to establish foundations for a primary care system that helps prevent diseases by equipping people with better information about their health,” said Suna.

Nightingale — which has raised 24.5 million euros so far from investors — said it has appointed Swedbank as the lead financial advisor to explore future financing options, including possibilities for an Initial Public Offering by listing the company’s shares on Nasdaq Helsinki First North.

“The goal is to make Nightingale a major international growth company over the next five years by collaborating with the existing health industry and placing solutions that improve people’s health at the heart of our expansion strategy,” said Suna.