Through collaboration with a German partner, Nestmedic’s solutions will become available on the 3rd largest market of medical technologies. And this is just the beginning: the expansion plans cover new countries, also outside the European Union.
Nestmedic has just concluded its first business partnership contract in Western Europe. As part of the contract, Zentrum für Telemedizin Bad Kissingen GmbH (ZTM), a telemedicine centre, will test the Pregnabit devices for mobile CTG and the dedicated platform for teleCTG interpretation. Germany is the third largest market of medical technologies, valued at EUR 28 billion (source: BVMed Report 2017), and a key element in Nestmedic’s development strategy.
Our international expansion is moving ahead from device demonstration and business relations development towards testing and implementations. We have a product and a platform that have been designed for users and customers all around the world. ZTM is, after eMedica from Kenya, is our next partner that will distribute our products, says Patrycja Wizińska-Socha, M.D. and CEO at Nestmedic, and she also adds that the budget for the company’s international expansion is growing.
This is a result of the company’s entering the final list of projects to be financed by PARP (the Polish Agency for Enterprise Development) under the “Go To Brand” programme. It means the next PLN 0.5 million for the Pregnabit brand expansion outside Poland.
In Germany Nestmedic has received support from the Fraunhofer Society, the largest European organisation for applied research and its implementation in industry, covering more than 70 German research and development institutes and independent research units. As seen from the macroeconomic perspective, Nestmedic’s new market is exceptionally attractive: Germany’s healthcare annual expenses per capita are among the highest in Europe and amount to EUR 5.1 thousand. EUR (in Poland it is below EUR 1 thousand ). 25% of this amount goes to the private healthcare sector in Germany (source: Emergo). As estimated by the European Commission, this year around 800 000 children will be born in Germany, which is a record-breaking number in the last 30 years.