Translation: Original published in Finnish on 9/22/2026 at 8:10 am EEST.

On Tuesday, Nightingale Health announced that it has agreed with Coronaria Kuntoutuspalvelut on the use of its Remote Health Check test as part of Coronaria's new weight management service. The news is a continuation of several recently announced partnerships. As with other recently announced private-sector partnerships, we estimate that the initial volumes of this agreement will remain limited for the time being, thus also limiting its immediate financial significance. Together, however, multiple small contracts support the realization of our forecasts, which include strong growth.

The test is integrated as part of a new care pathway

Under the agreement, Nightingale's at-home blood analysis and disease risk predictions will become part of a 12-month weight management service launched by Coronaria. The customer takes a test based on a fingertip blood sample before the service begins to map the baseline situation and again at the end of the service to verify the health impacts. The test provides 10-year risk predictions for five chronic diseases (such as myocardial infarction and type 2 diabetes) as well as a wide range of other blood markers. The cooperation follows Nightingale's familiar B2B strategy, where the company aims to integrate its services into existing healthcare value chains. The solution thus provides objective data on the effects of lifestyle changes on disease risks instead of just monitoring weight.

Small streams create a larger revenue flow

Nightingale has recently announced several new initiatives in the healthcare sector, and the collaboration with Coronaria continues this trend. With a revenue of 94 MEUR (2025), Coronaria Kuntoutuspalvelut is a significant player in Finland and, in our view, offers a good distribution channel for the test. The news is an inspiring signal of confidence in the appeal of the company's technology, and the collaboration expands the application areas of the technology in Finland. However, we estimate that its financial significance will remain moderate in the early stages of Nightingale's big picture. The growth of test volumes depends entirely on how well Coronaria succeeds in customer acquisition for its new weight management service. As we have previously highlighted, the scaling of Nightingale's business model and its turnaround to profitability require long-term efforts to increase volumes. We look forward to following the ramp-up of the collaboration, but from the perspective of the company's value creation, our focus remains primarily on how the volumes of previous major partnerships (such as Terveystalo, Pathology Asia, and Boston Heart) will scale. These smaller customer accounts complement Nightingale's growth alongside the large partnerships.