© Coala Life Electronics Production | June 21, 2018
Swedish medtech company places production at Innokas
Swedish health tech innovator Coala Life AB has selected Innokas Medical to manufacture the company’s Coala Heart Monitor.
As part of its Scandinavian growth strategy, Innokas Medical has invested in its sales efforts in order to reach new customers outside of Finland. The strategy has shown to bear fruit as Innokas has succeeded in acquiring new customers not only from Finland, but also from Sweden, Denmark and Norway, Innokas Medical writes in a press release. “Our key figures for 2017 showed that the constantly increasing competition in the field did not have a significant impact on Innokas, as we managed to increase our turnover faster than overall industry growth rate. We reached 18 % topline growth, which came mainly from outside of Finland. This is significant for Innokas, especially from the perspective of internationalization and Innokas growth”, Innokas Medical’s Executive Vice President, Tommi Kaasalainen, says in the press release. The partnership with Swedish company Coala Life AB strengthens Innokas Medical’s footing on the Nordic market. “We’re disrupting the field of cardiac diagnostics. We’ve recently launched a multi-prize winning portfolio of cardiac monitoring solutions based on the Coala Heart Monitor. It is a unique, intelligent cloud-based device to check your heart condition in real time”, tells Philip Siberg, Co-Founder and CEO at Coala Life. The company’s solution is available in two versions; Coala Heart Monitor is sold directly to consumers for home care, and Coala Pro is offered to caregivers to enable smarter cardiac assessments at hospitals and clinics. The solutions use smart algorithms to help predict and prevent heart diseases. There is no electrodes, patches or separate pieces as it's all integrated, the release continues. Coala Life first made contact with Innokas Medical in 2017 as the company was looking for a manufacturing partner from the Nordics. One very important requirement for new partner was FDA registered facility, as their goal is to enter the US market with the device. As part of their international scale-up, Coala Life chose Innokas Medical to be their manufacturing partner. Companies signed an agreement in the spring of 2018, covering the manufacturing of Coala Life’s Heart Monitor at Innokas Tallinn factory. The device is now at the design transfer and pilot production phase, and the mass production will start on the second half of the year. Kaasalainen tells that he is very excited about the agreement made with Coala Life. ”We were really impressed by Coala’s product and their team from the very beginning. And we’re not the only ones as they have received multiple awards for their Heart Monitor. Coala Life’s innovation is a great example of the current trend in the field, where home care is becoming more and more common. I’m very happy with that Coala Life chose Innokas to make their vision reality”, Kaasalainen concludes.
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