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Digital Healthcare company VideoVisit secures EUR 1.5 million financing for internationalization

Press Release – VideoVisit Ltd

Free to publish: 13th May, 2019, 9:00 AM EEST

DIGITAL HEALTHCARE COMPANY VIDEOVISIT SECURES EUR 1.5 MILLION FINANCING FOR INTERNATIONALIZATION

The Finnish company VideoVisit Ltd, which develops digital outpatient care solutions for social- and health care sectors, has secured EUR 1.5 million in financing to scale its services to international markets. The additional financing consists of corporate finance received through the Business Finland Smart Life Finland – project and direct investment by Kustaa Piha’s investment company Athensmed. With this funding, VideoVisit is strengthening its international business that started 1.5 years ago by investing in global sales and developing new services for the international market. At the same time, the Annual General Meeting of VideoVisit Ltd appointed Kustaa Piha and Marika Nordlund as new representatives of the Company’s Board.

Launched in 2010, VideoVisit has become the market leader in the field of virtual care and remote healthcare services in Finland. VideoVisit’s net sales in 2018 totaled EUR 2.6 million, and the 2019 forecast is expected to reach EUR 3.1 million. The company’s strong position as a pioneer in the Finnish healthcare field creates a solid foothold for internationalization:

– I am glad that our family business has received funding in cooperation with our customers and Business Finland to anchor us more firmly in international waters. Kustaa’s unique expertise in the field together with VideoVisit’s specialized expertise is part of our current and future success story, says Esa Ojala, Founder and Chairman of the Board of VideoVisit.

The comprehensive remote care service platform for social and healthcare service providers covers more than 100 municipalities and hospital districts domestically in Finland. The Remote Care service provided by VideoVisit has proven to be a cost-effective solution for delivering services to geographically broad areas. For example, in home care, the VideoVisit® service has proven to be up to 85% more cost-effective than a traditional physical home visit at home. In Finland, the VideoVisit® service solutions have already made over one million remote care sessions.

– VideoVisit is an advanced technology company whose services bring significant added value to customers. The company is on a healthy footing, which has been guided by the grounded and practical business attitude, combined with the highest goals. VideoVisit has distinguished itself from other companies in the industry. It is a pleasure to be part of this company and to give my support for the company’s internationalization, says Kustaa Piha.

The cost pressures in health care due to aging population, the rise of chronic diseases and limited care resources are global problems. The Remote Care Service developed by VideoVisit provides a solution to these challenges, so the company has excellent growth potential in the international market.

– It has been fascinating to be part of VideoVisit’s internationalization process within a couple of years, and promising results have been achieved in the Gulf area and Japan, says Meria Heikelä from Business Finland.

– It’s great that the company continues to work with us in the Smart Life Finland program. The program promotes the use of digital solutions in changing health care and everyday life, and is an excellent platform for a company like VideoVisit, continues Heikelä.

In international markets, VideoVisit currently has local operations in Japan, Australia, Iberia, and the Baltic countries. Also, the company is currently negotiating new customer deliveries to the Netherlands, Austria and the Middle East. With the help of the finance that has been secured, VideoVisit aims for a stronger international market position by strengthening its sales organization and launching new solutions and services for the global market.

For more information:

Esa Ojala
Founder & Chairman of the Board, VideoVisit Ltd
+358 44 045 1842
esa.ojala@videovisit.fi

Repe Harmanen
CEO, VideoVisit Ltd
+358 40 046 7717
repe.harmanen@videovisit.fi

Kustaa Piha
CEO & Investor
Athensmed Oy
+358 50 359 6835
kustaa.piha@athensmed.fi

VIDEOVISIT
In 2010, VideoVisit Ltd is a Finnish company focused on customer-oriented remote care solutions. VideoVisit develops and provides a comprehensive remote care service that enables healthcare services to be delivered home regardless of time and place. The service offers solutions such as virtual care, video and chat-based online doctor appointments, online doctor consultation, and remote diagnostics. VideoVisit operates in Finland as a framework contract supplier through KL-Kuntahankinnat and Istekki Ltd framework agreements in the public health sector. Over 100 municipalities and hospital districts use the service in Finland (05/2019). In the international market, VideoVisit operates in Japan, Australia, Iberia, and the Baltic countries.

KUSTAA PIHA / ATHENSMED
Kustaa Piha is the founder and former CEO of Med Group Oy. Nowadays, Piha invests in health service companies and growing health technology companies through its investment company Athensmed, and acts on the boards of companies. Other investments of the company include: Omaeläinklinikka, Komppi, Klinik Healthcare Solutions and Kaiku Health.

Momentum in Japan – Appointment of Shuichi Seo & EU Trade Mission to Japan 2019

VideoVisit has been experiencing a big wave of activities and opportunities coming from the market of Japan.

– It’s exciting to see the momentum and interest in our holistic platform solution for remote caregiving and with each trip it gets better and better. Japan is one of the strategic entry markets chosen for business development for the next two years and the results of the activities so far has been impressive. Last year, VideoVisit was in Japan four times to develop contacts, networks and discuss potential partnerships and pilots with Japanese companies. Due to the high interest and potential we see from the market, we decided to take a bigger step forward, explains Michael Haralson, COO of VideoVisit Ltd.

Appointment of Mr. Shuichi Seo

Shuichi Seo appointed as Director, Sales & Business Development for the Japanese market.

It is with great pleasure that we formally announce the appointment of Mr. Shuichi Seo as Director, Sales & Business Development for the Japanese market.

Shuichi Seo has broad experience in research, consulting and business development on cross border businesses. He has had international working experience with Nomura Research Institute in Sydney and in London. He contributed to Nikko Asset Management and T&D Asset Management in developing new businesses. He was involved in advisory services on M&A and corporate finance with IBS Securities. He is a CFA charter holder and served as President of CFA Society Japan from 2013 to 2015. He has BA in Law from the University of Tokyo and MBA from the New York University.

EU Trade Mission to Japan 2019

Director of Sales and Business Development Shuichi Seo and COO Michael Haralson at EU Gateway Mission to Japan 2019

Last month VideoVisit had the great opportunity to participate in the 2019 EU Trade Mission to Japan – we were one of 40 companies that were chosen to participate this year from a pool of some 350 companies that applied. Even more exciting for us was that we had attended the trade mission last year so it was an honour to be chosen once again. The trade mission activities are held in coordination with the Medtec Exhibition, one of the larger medical exhibitions held at Tokyo Big Site.

– This March we have increased our meeting activities to reach out to potential partners and customers, with a total of 27 key meetings! It includes the EU Trade Mission to Japan matchmaking team’s efforts, some walk-on opportunities at the Medtec Exhibition and Shuichi Seo’s efforts to arrange appointments. This included some large Japanese medical companies as well as a meeting at the Sendai Finnish Wellbeing Centre. We start to see positive momentum in finding partners and pilots in the Japanese market, Shuichi Seo summarizes the week full of activities.

Additional information:

Michael Haralson
COO
michael.haralson@videovisitglobal.com
+358 40 532 7577

Shuichi Seo
Director, Sales & Business Development – VideoVisit Japan
shuichi.seo@videovisitglobal.com
+81 (0)80 3553 9889

Finnish Smart City technologies advance in Yinchuan, China

2018 Global Smart City Summit in Yinchuan, China

The Finnish Smart City Consortium has been invited to participate in Yinchuan Smart City pilots.

Yinchuan the leading Smart City in China and part of the national piloting program. It is significant for this Finnish Smart City Consortium to have this opportunity to test and develop Smart City offerings in a developed and large market.

The Finnish Smart City Consortium is structured and operating areas for the Yinchuan Smart City is pictured below.

Delegation leader Juho Pirinen from CJ Studio states “While discussing with Yinchuan local government about the needs of the Yinchuan Smart City we recognized many opportunities to utilize and further develop existing Finnish technologies. We consider Yinchuan City a developed and advanced market. We have seen that Finnish technology innovations fit perfectly to their Smart City planning.”

About Yinchuan Smart City:

Yinchuan is the capital of Ningxia Province in Northern China. On October 1st, 2016 Yinchuan had the unique honor of becoming China’s first metropolis to regulate as a “Smart City”. It is considered a blank canvas as Yinchuan can more flexibly adopt new technologies and then “attract people that would otherwise have gone to Beijing or Shanghai”. The population is a little over two million people, the right size for Finnish technology innovations to start access to the Chinese market.

Yinchuan has won many international and domestic awards, such as the TM Forum Smart City President’s Award in 2015, China’s Leading Smart City Award, the Fifth China (2015) Smart City Application and Innovation Award and so on. The Cloud Data Center of Smart Yinchuan is approved as a pilot unit of national green data center, becoming a leader in the field of smart city in China.

Pictured (from left to right): Pertti Jalasvirta, Kari Bäckman, Hannu Anttila, Michael Haralson, Juho Pirinen, Jukka Lassila and Simon Du. (not pictured but core team member – Huageng Chi)

About the Finnish Smart City Consortium members:

Formed specifically for addressing the needs of Yinchuan Smart City, the members consist of:

CJ Studio – Contact: Juho Pirinen (juho.pirinen@cjstudio.com) and Huageng Chi (huageng.chi@cjstudio.comwww.cjstudio.fi

MIF Academy – Contact: Pertti Jalasvirta (jalasvirta@gmail.com) www.mifacademy.com

Cyberwatch – Contact: Pertti Jalasvirta (jalasvirta@gmail.com) www.cyberwatchfinland.fi

Benete – Contact: Kari Bäckman (kari.backman@benete.com) www.benete.com

VideoVisit – Contact: Michael Haralson (michael.haralson@videovisitglobal.com) www.videovisitglobal.com

Halax – Contact: Pertti Jalasvirta (jalasvirta@gmail.com) www.halax.fi

Moprim – Contact: Hannu Anttila (hannu.anttila@moprim.com) www.moprim.com

Venture Development Finland – Contact: Jukka Lassila (jukka.lassila@yrityskehitys.com)  www.yrityskehitys.com

VideoVisit signs a Memorandum of Understanding with Manarat Al-Mamlakah Group in the Kingdom of Saudi Arabia

VideoVisit Group press release, for immediate release

H.H Prince Ahmed Bandar Alsudairy and Mr. Esa Ojala signing memorandum of understanding during the signing ceremony

VideoVisit Ltd has entered into a memorandum of understanding (MOU) with Manarat Al-Mamlakah Group, headquartered in Riyadh in the Kingdom of Saudi Arabia, aimed at introducing VideoVisit® digital outpatient care services to the rapidly developing Saudi healthcare market.

Founder and Managing Director of VideoVisit Ltd, Mr. Esa Ojala signed the MOU with the Chairman of Manarat Al-Mamlakah Group, H.H Prince Ahmed Bandar Alsudairy during a signing ceremony held at His Highness’ palace in Riyadh, Saudi Arabia.

“This MOU signals that there is a strong demand for the Finnish healthcare technology and knowhow in Saudi Arabia. VideoVisit wants to support and actively be part of the ongoing healthcare reform in Saudi Arabia driven by the ambitious Vision2030 strategy set by the Saudi government.” said Managing Director Esa Ojala. “This is a significant step forward for us in entering into the Saudi Arabian healthcare sector.”

H.E Petri Peltonen Under Secretary of State at the Finnish Ministry of Employment and H.E Pekka Voutilainen, Finland Ambassador to the Kingdom of Saudi Arabia were representing the Finnish Government at the signing ceremony.

The signing was part of a Finnish business delegation mission to the Kingdom of Saudi Arabia being led by H.E Petri Peltonen Under Secretary of State at the Finnish Ministry of Employment.

For more information

Esa Ojala
Managing Director – VideoVisit Ltd
esa.ojala@videovisit.fi
+358 44 045 1842

Juhana Ojala
CEO – VideoVisit Global Ltd
juhana.ojala@videovisitglobal.com
+358 40 5682182

 

VideoVisit Group strengthens its organization with new appointments

Jukka Paldanius – Newly appointed CXO of VideoVisit Global Ltd

VideoVisit Group press release, Free to be released on 4th April 2018

VideoVisit Group continues its strategic growth by appointing Markku Karjalainen as CIO of VideoVisit Ltd and Jukka Paldanius as CXO of the subsidiary VideoVisit Global Ltd. With these new appointments, VideoVisit Group strengthens its internal readiness to further develop VideoVisit® services and entering into new international markets.

Markku Karjalainen brings valuable management-level experience on IT-security and software development

In a new position created at VideoVisit, Markku Karjalainen brings decades of experience on managing and leading different size development projects. His long experience at Siemens, IBM and F-Secure in managing technical development projects, risk assessment and IT-security raises the software development of VideoVisit to the next level in a market situation where there’s increasing interest to VideoVisit® services.

“As the number of customers grows, it is natural to develop and invest also into our organization capability to answer for the new customer needs and future growth. With Markku, we get extremely seasoned professional and strong character to steer our growth and service development to a level that enables us to scale up to new markets. At the same time, Markku’s background from F-Secure gives VideoVisit more tools to be the leading remote healthcare service provider in terms of data security and usability also in the future.”, explains Esa Ojala, the CEO of VideoVisit Ltd.

Jukka Paldanius adds customer experience in distributing VideoVisit® services to global markets

As the newly appointed CXO, Jukka Paldanius strengthens VideoVisit Global’s capability especially in distributing digital outpatient care concepts and service processes to international customers and partners. Previously Paldanius has been working for the city of Helsinki Service Center being responsible of the Service Center’s remote care solutions. At the Service Center he was responsible, for example for operating VideoVisit® Home virtual care service, which has become one of the main service models of the city of Helsinki’s home care services.

“Appointing Jukka Paldanius as CXO of VideoVisit Global is a really important strategic step for us towards our long-term targets in international markets. One of our competitive advantages has been extremely broad and deep knowhow on developing digital outpatient care service processes and integrating technology into these processes. At VideoVisit, Jukka will be responsible especially for developing our technical consultation services business. This is part of a larger transition where we move from a software company to a complete service provider including both technology and consultation services”, states Esa Ojala.

For more information

Esa Ojala
Managing Director – VideoVisit Ltd
esa.ojala@videovisit.fi
+358 44 045 1842

Markku Karjalainen
CIO – VideoVisit Ltd
markku.karjalainen@videovisit.fi
+358 44 779 0824

Jukka Paldanius
CXO – VideoVisit Global Ltd
jukka.paldanius@videovisitglobal.com
+358 40 674 2239

2018 – The year of virtual care!

VideoVisit Ltd has been selected to participate in the EU Gateway mission to Japan

VideoVisit Ltd has been selected to participate in the EU Gateway | Business Avenues Healthcare & Medical Technologies | Japan mission, scheduled to be starting on 16/04/2018.

VideoVisit will be one of the 40 companies from across the EU, which have the opportunity to gain first-hand experience in dynamic markets and establish business contacts with local companies via the business matching events and meetings.

More information about the upcoming EU Gateway mission can be found from the official website of the EU Gateway programme.

VideoVisit Ltd to establish global subsidiary – VideoVisit Global Ltd

Michael Haralson is the new COO of VideoVisit Global Ltd

VideoVisit Global press release, Free to be released on 6th November 2017

VideoVisit Ltd, which has grown to become the market leader in outpatient care solutions in Finland within the last two years, will establish VideoVisit Global Ltd, a subsidiary focusing on expansion of VideoVisit® health technology solutions to global markets. Juhana Ojala, previously Sales Director of VideoVisit Ltd, has been appointed as Managing Director of the new subsidiary. VideoVisit Global Ltd is also pleased to announce the appointment of Michael Haralson as the new COO. Haralson brings extensive experience in technology, strategy and expanding to international markets from his previous experience at Nokia Corporation, Amino Communications and Techcode Finland.

Market leader position in Finland boosts internationalization

Establishing VideoVisit Global Ltd is part of VideoVisit’s strategic vision to rapidly enter foreign growth markets that are experiencing increasing demand for Finnish health technology and know-how.

“In Finland, in a very short time, we have become the market leader in the public healthcare market with about 80% market share. The major reason are the framework agreements signed with KL-Kuntahankinnat in 2016. A strong domestic market position gives us an excellent capability to seek stronger growth from the international markets” states Esa Ojala, Managing Director, VideoVisit Ltd.

VideoVisit Global offers solutions to the challenges of large elderly markets

In Finland, the results achieved with VideoVisit’s virtual care has attracted a great deal of international interest, even from foreign health ministries. VideoVisit Global’s goal is to utilize the strong home-grown expertise in virtual care for older and chronically ill patients and to duplicate the service concept abroad.

“Market research conducted in 2017 shows that globally Finland is the leading country in the field of virtual care. We definitely want to take advantage of this lead. VideoVisit Global Ltd will target big market areas where aging is already a huge challenge to providing social and health care services. A good example is the South East Asia market and in particular, Singapore. The first international customer projects are scheduled to start immediately in the first half of 2018,” says Juhana Ojala, Managing Director, VideoVisit Global Ltd.

Michael Haralson brings experience in creating an international distribution network

One important aspect of VideoVisit Global Ltd’s business cornerstone is the creation of close partnerships with local distribution channels and partners. This business strategy is strengthened by the appointment of Michael Haralson as the company’s COO. His long experience at Nokia Corporation where he worked with telecom operators and distributors, provides the necessary insight into rapid and coordinated entry of selected target markets with local distribution channels.

Michael Haralson states, “There is high demand for elderly care solutions that use seamless technology while at the same time reducing or keeping costs low. I’m excited to take a key role in expanding the VideoVisit® solution globally with partners, distributors and end-customers. We will bring not only a proven solution to international markets, we’ll also help to solve a growing social healthcare problem.”

For more information

Esa Ojala
Managing Director – VideoVisit Ltd
esa.ojala@videovisit.fi
+358 44 045 1842

Juhana Ojala
Managing Director – VideoVisit Global Ltd
juhana.ojala@videovisitglobal.com 
+358 40 568 2182

Michael Haralson
COO – VideoVisit Global Ltd
michael.haralson@videovisitglobal.com
+358 40 532 7577

VideoVisit Ltd has been selected to participate in the EU Gateway mission to Thailand and Singapore

VideoVisit Ltd has been selected to participate in the EU Gateway | Business Avenues Healthcare & Medical Technologies | Thailand & Singapore mission, scheduled to be starting on 04/09/2017.

VideoVisit will be one of 50 from across the EU, which have the opportunity to gain first-hand experience in dynamic markets and establish business contacts with local companies via the business matching events and meetings.

More information about the upcoming EU Gateway mission can be found from the official website of the EU Gateway programme.

For more information, please contact

Juhana Ojala
Co-Founder, Sales Director
juhana.ojala@videovisitglobal.com
P. +358 (0)40 568 2182

City of Helsinki’s Service Centre utilizes VideoVisit® virtual care – up to 85% more cost efficient than physical home care

Press Release 23.2.2017

Service Centre of the Finnish capital city of Helsinki and a Helsinki based digital healthcare company VideoVisit have worked in co-operation to create efficient and powerful virtual care service concept for home care services in Helsinki.

VideoVisit and city of Helsinki’s Service Centre will announce the results of their collaboration and Helsinki’s virtual care statistics from year 2016 at Mobile World Congress 2017 in Barcelona, Spain. The outcome of the collaboration has been remarkable, virtual care in Helsinki has been 85% more cost efficient than traditional physical home care.

When VideoVisit and Helsinki’s Service Centre started the co-operation, Helsinki had an urgent need to reform its home care processes where a limited amount of resources couldn’t meet the needs of rapidly growing volume of home care clients. At the same time there has been a shift from providing treatments at physical treatment facilities towards providing care services to client’s home.

Today virtual care is a ground element of home care services provided in Helsinki area. City of Helsinki’s Service Centre places over 20,000 virtual calls per month to over 600 clients. One virtual nurse is capable of placing up to 60 virtual visits over one shift. The demand for virtual care grows rapidly in Helsinki which illustrates Helsinki’s goal of having over 900 virtual care clients at the end of the year 2017.

The results and statistics of virtual care used in city of Helsinki in 2016 will be revealed at Mobile World Congress 2017 at Team Finland’s joint booth 5F31 on 28th of February at 12pm local Spanish time.

For more information, please contact

City of Helsinki, Service Centre
Riitta Laanala
Director of the business unit, Telephone and wellness services +358 9 310 74417
riitta.laanala@hel.fi

VideoVisit Ltd.
Juhana Ojala
Sales Director
+358 40 568 2182 juhana.ojala@videovisitglobal.com

About VideoVisit

VideoVisit is a Nordic health technology company developing digital solutions for home care and healthcare sectors. We make healthcare available to everyone, anywhere and anytime. Our mission is to provide solutions that help people to live independently at home for as long as possible. We collaborate with health care specialists to ensure that our solutions are available to everyone who needs them.