MEDIGOO’s solution to health concerns
MEDIGOO provides people with a quick response to their health concerns through rapid health tests and genetic tests. The current portfolio of over one hundred products can provide solutions to multiple target audiences. Consumers can test for diseases that are sensitive (sexually transmitted diseases) and ensure the importance of going to the doctor (CRP, Lyme’s disease both in Human and the Tick, Helicobacter known also as gastric ulcer). The most sold tests are the categories of sexually transmitted tests and drug tests. The tests are easy to use, the test results are quickly visible at home and the reliability is the same as in laboratory tests.
MEDIGOO products are supported by two trends: / Euromonitor / Consumer Trends, January 2019). https://blog.euromonitor.com/euromonitor-reveals-the-top-10-global-consumer-trends-in-2019/
Market Potential
The development of consumer responsibility for their own health and the development of self-testing products will take market share in the market for traditional laboratory testing services. The size of Laboratory Services MarketWatch has globally estimated 333 billion USD by 2023 (estimate August 2018). MEDIGOO’s goal is to offer self-test products to gain market share in this segment.
Commercialization
The company started large-scale commercialization of self-testing products in 2015. From now on, the distribution network has been expanded systematically and currently covers approximately half of Finnish pharmacies and products are also available in ten online stores in Finland, Britain, Spain and Germany. Medigoo.com site has over 30 000 international visitors per month and over 80 000 pages views per month. Next, the online store is opening up in the Netherlands. Cumulative delivery volumes are currently 20,000 product packages by the end of February. The change in net sales by the end of 2018 has been over 300% since the end of 2017. In 2018, 90% of sales came from Finland and 10% from abroad. The company has always been aiming for listing at Nasdaq Helsinki First North.
The goal of MEDIGOO is to increase sales in Finland (pharmacies, health shops) by marketing products to a wide audience. Equally important is to develop export distribution channels to the UK, Spain, Germany and the Netherlands.
Team expertise
MEDIGOO Oy’s operational core team has worked together for a long time. The team has expertise in sales, technology, financial management and international marketing. Key employees have previous experience in building e-commerce and managing business. The company’s Board of Directors has been approved during 2019 so that the Company has sufficient strategic and business management expertise. The members of the Board of Directors have a background in business and finance management, sales and marketing, which in its entirety strengthens MEDIGOO ‘s expertise and supports the management team’ s operational activities.
Dr. Mika Karilahti, CEO, has a long experience in Director roles at Nokia Sourcing and Samsung Sales, and additionally he has managed a Webhosting company and later sold that business to Nebula. Earlier he managed an accounting office and later sold its business to another accounting & auditing company. His skills are in the areas of Technology, Sourcing, Sales, and Financial accounting.
Mr. Teemu Polo, Chairman of the Board, has worked with and within startups since ~2004 and currently works at New Company Consulting unit (NewCo) run by the City of Helsinki in Finland. He is at his best with business development.
Ms. Satu Seppälä, Member of the Board from Sep 2020, works as Head of South-America Sales at at Planmed. She brings expertise with Sales and Medical Devices.
Ms. Riikka Friman, Member of the Board, works as Vice President, Digital and Content Marketing at F-Secure Oyj. Her experience is in brand management, sales development in digital and distribution channels. Her previous positions have been in brand management at Rautaruukki and Kemira.
Mr. Jussi Kivikari, Member of the Board, works as Development Director at The Finnish Fair Corporation. He brings experience in event marketing and B2B sales.
For further information, please contact:
Mika Karilahti, CEO, Email: [email protected], Phone: +358 400 350189 (mobile) and +44 745 226 7981 (mobile) and +1 (917) 503 3941 (office)
