contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


nightingale-health-seeking-commercial-recipe-success

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Head of Nordic ER Development, Analyst

Antti Luiro

Nightingale Health operates in the medical technology sector. The company specializes in the development of medical technology products. The product portfolio is broad and includes platforms and services within blood analysis that are used for disease prevention purposes. In addition to the main business, service and related ancillary services are also offered. The business is operated globally with the largest presence in Europe.

Homeros reflects well on the research results above. NG’s added efficacy in identifying risk groups is very modest. No savings have been demonstrated anywhere.

AI also says that there are currently over 7,000 unemployed people in South Karelia. This is quite a decent income for NG again, if all these individuals receive this service, say, within the next year, and one sample costs, for example, a hundred. A tidy turnover quickly accumulates from these ‘small tasks’, and NG proved a long time ago that their labs do deliver as long as samples are brought in.

And yet, it is much cheaper to pay for all those blood tests, have a comprehensive risk assessment completed, and start treatment based on that. Treating a sick person always costs so much more than prevention that the funds will be found as long as research can demonstrate (just as has been done here) that by paying for all of these, savings are made in the total cost. See the bottom row of the graph and compare it to the two rows circled in red.

Combined clinical, metabolomic, and polygenic scores for cardiovascular risk prediction.  European Heart Journal (2025), December 15 https://doi.org/10.1093/eurheartj/ehaf947 It is also worth reading the publication itself. In this, Nightingale’s blood value measurement was indeed utilized, but this study does not use Nightingale’s risk models—meaning, perhaps the company’s blood analysis was used, but not its risk analysis. An independent research group has developed its own statistical models here to predict the risk of cardiovascular events. These are not in use at NG. In this study, 11 common clinical chemistry laboratory tests (e.g., HbA1c, Vitamin D, CRP) were also clearly superior in risk classification compared to NMR-measured metabolites. The result was a round win for traditional clinical chemistry: 11.6% of those who suffered a cardiac event were better classified vs. 8.9% with comprehensive metabolomic measurements. NG’s own risk model would certainly be much worse because it only measures about 36 blood values, whereas in this study model, there were 106. If the matter were framed in the same way NG headlines its press releases: “Significant study: a standard blood test helps prevent more heart attacks and strokes compared to the current Nightingale Health blood analysis”  Of course, one can always argue, as in this article, that combining all of these leads to the best result, etc., but if there is money for only one of these, Nightingale’s measurement and risk model are not worth choosing based on this. The experimental nature of this article is also quite far from real life: people would need to have a SCORE2 risk test (measuring blood pressure, etc.), clinical chemistry labs, NG’s metabolic panel, and even a genetic panel to decide “best” whether to start cholesterol medication  The cost would likely be staggering, which was not addressed here at all. But just if NG’s test costs €200, then based on the information in this article, the price for one prevented heart attack would be €217,000 (when 100,000 people are screened with the study’s NMR risk model + SCORE2). Here, the effect of cholesterol medications is also assumed very optimistically, so the price in real life would be significantly higher.

I wonder if the analyst knows whether the implementation experiences in Etelä-Savo served as a positive springboard for North Karelia? (Enthusiasm based on results would, of course, be years away.)

a new North Karelia project?.. In my opinion, a good example of what NH’s method can aim for in Finland and similarly elsewhere in aging Western countries. The number of people needing care is increasing, the number of funders is decreasing, and treatments also seem to be getting more expensive. Often, the most cost-effective approach is preventative care, and I believe that more precise prescription of statins is just the tip of the iceberg. NH’s analytics improve the risk indicator and also provide precise information for improving different areas, in my view, more credibly than anything used before. It then remains to be seen how this translates into lifestyles, which I believe can have the greatest impact. Looking at the state of the national economy, where 7-9% (copilot) of the state budget is spent on “preventable” diseases/ailments, it would be almost mandatory to shift the focus from medical care to health maintenance. This is, of course, difficult when the citizen themselves is responsible, but all aids are welcome.

It’s quite small-scale for now, but I suppose that’s how it is when a new concept is introduced to a conservative industry—the first steps are small.

Nightingale Health

Nightingale Health is a technology company built around blood analysis. The company tries with new technology, which initially seems competitive, to break into a conservative health care customer...

<p>Nightingale Health is a technology company built around blood analysis. The company tries with new technology, which initially seems competitive, to break into a conservative health care customer base, where achieving commercial success and its possible timing are, however, very uncertain. Despite the high long-term potential, we still have to wait for the signs of success and believe that positive share price drivers are still scarce. We, therefore, believe that the risk/return ratio will be weak over the next 12 months. </p> 

	2022	23e	24e
Revenue	2.3	4.3	5.2
growth-%	0.3 %	84.2 %	22.2 %
EBIT (adj.)	-13.6	-18.4	-17.8
EBIT-% (adj.)	-589.5 %	-431.1 %	-342.5 %
EPS (adj.)	-0.23	-0.30	-0.30
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	neg.	neg.	neg.
EV/EBITDA	3.1	neg.	neg.

Nightingale Health: Seeking a commercial recipe for success

Key Estimate Figures2023-06-05

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