🇫🇮 Finnish Health Technology to Japan – Monidor entered into a significant cooperation agreement with Senko Medical
Press release from Monidor
Monidor remote infusion therapy monitoring service will be launched in Japan in early April. Monidor, founded in 2015, will apply for EUR 2 million in funding in spring 2023 to accelerate its internationalisation. The company’s strategy is to become a leading specialist in remote monitoring services in hospital inpatient wards.
The Oulu-based health technology company Monidor Oy has signed a cooperation agreement with Senko Medical, a manufacturer and distributor of medical devices. Senshin Medical Col, Ltd., a subsidiary of Senko Medical, represents and sells Monidor solution in Japan.
Founded in 2015, Monidor offers remote monitoring solution for intravenous infusion therapy. The service has been proven* to bring savings, make nursing more efficient and easier and improve patient safety.
“In the start-up project of the collaboration, we give Senko Medical an introduction to our solution. Monidor’s service will be deployed in 2–3 Japanese hospitals, to which 96 remote monitoring devices will be delivered in the first phase. In other words, the first order has already been placed and delivered in March,” says Mikko Savola, CEO of Monidor.
Monidor has been launched in March at The 9th Annual Congress of the Japan Society of Clinical Safety, and Senshin Medical will start selling the solution nationwide with its 200 agents starting in April.
“In Japan, healthcare is more burdened than ever before due to the ageing of the population and the declining proportion of the working population. The work of nurses must be made more efficient, but safely. Monidor is a very necessary and usable product for the Japanese market, and we have high expectations for it in the future,” says Tetsushi Okuma, Director of Senshin Medical.
200% growth in 2022
In its home market, Monidor is currently in use in 15 hospitals in approximately 60 inpatient wards around Finland. The net sales of the remote monitoring service grew by almost 200 per cent last year, and for this year Savola predicts that the growth will continue to be strong, especially due to the development of home hospital operations, i.e. “virtual inpatient wards”.
“Home hospital operations are growing in Finland, and now in the early part of the year in Finland we have made the most sales specifically for home hospitals. It is also developing strongly in Sweden,” Savola says.
The Nordic countries and Switzerland are next
Monidor’s goal this spring is to raise EUR 2 million in the funding round for product development and to accelerate its international growth.
“This year, in addition to Japan, we will launch sales in the Nordic countries and Switzerland. In Sweden, we are represented by ApoEx, and Monidor will be the first to be introduced there in a private home hospital in Stockholm. In Switzerland, we also have a pilot project underway with a private hospital chain,” Savola says.
Monidor is also in negotiations with potential partners in the US market.
Many functions can be enhanced with remote monitoring
The company’s strategy is to become a leading specialist in remote monitoring services in hospital inpatient wards and home hospitals by partnering with various equipment manufacturers, for example.
“In addition to gravity infusions, hospitals have many other monitored functions that can be enhanced. In the near future, we will expand our service offering to, for example, monitor certain vital signs. We can increase the value experienced by the customer by supplementing the monitoring devices with a remote monitoring feature,” Savola explains.
More information about Monidor solution:
Monidor’s service includes an infusion meter connected to the infusion set and a remote monitoring application, which reducess the need for nurses to visit the site to check the progress of the infusion therapy.
*According to a health economics study published in March 2022, Monidor`s service that facilitates the work of nurses can save millions of euros nationwide on an annual level in Finland.
*Link to study |  Advantages in Management and Remote Monitoring of Intravenous Therapy: Exploratory Survey and Economic Evaluation of Gravity-Based Infusions in Finland
Additional information:
CEO Mikko Savola, [email protected] puh. +358 50 3788890
Originally published on 16 March.
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