Select Wellness Nordic AB

Employee health is, despite everyone's conviction that it is important, often set aside on the company's agenda. Initiators and owners of health projects do not have the appropriate skills, resources or tools to present relevant information that enables management to make correct decisions. Also, they do not focus on measurability, productivity and results when they initiate health initiatives.

The result of inadequate measurement and lack of long-term strategies is that activities that are made to increase well-being and reduce stress have very little long-term impact on employee productivity and health, and do not contribute to increased profitability.

Our software platform enables a systematic and measurable health promotion work where we actively support companies both strategically and operationally. The model we work according to is based on research and 20 years of experience in conducting health promotion services at companies. By focusing on productivity and measurability, we help management to make well-informed decisions about efforts and investments to be made in employee health. We relieve the organization internally and make it possible to switch from healthcare to health promotion -  and thus reach significantly more co-workers in a more cost-effective and inspiring manner with higher impact on productivity.

Using scientific methods, we collect data for our analysis.

Based on the result:

- We set measurable goals

- We implement specific efforts for each department based on their needs.

- We plan and project all the efforts. (within diet, stress, physical activity, etc). The services are carried out by us or our partners.

- We provide support and tools to managers, increasing their skills and making their job easier. 

- We ensure high quality in every effort throughout the organization.

- We conduct continuous analysis of developments, report deviations and provide management with statistics, reports and key ratios.

Our services are suitable for all companies with 50 employees or more, who sees employees as a valuable resource and a future competitive advantage. The initial need may be increased costs due to health issues among employees, resource shortage at HR department or about strengthening their brand to become an attractive workplace.

We use digital services that are both time-efficient and resource-efficient, allowing even quality for companies located in multiple locations.

Legal requirements regarding employee health are increasing. We turn to companies that want to focus on proactive health work, employee well-being and reduced costs for sick-absence and sick-presence.

The scalability of our business model and digital platform makes our service suitable for larger organizations. In Sweden, there are ~ 985,000 potential users in companies with 250 employees and upwards. Among the medium-sized enterprises (5600) there are ~ 54300 employees. We focus initially on companies with 200-600 employees.

Generally, European companies need to take greater financial responsibility for sick leave. Our service has therefore big potential in many European markets.

Traditional occupational healthcare has a turnover of SEK 4 billion. The market is dominated by three major players. They are strong in terms of treatment, but have not been able to change their business to the growing need for proactive health work and digital services. Hence, a new market has emerged - Corporate Health Management, in which Select Wellness operates.

Today a small number of digital CRM players operate on the Swedish market. Their offer focuses on very specific areas and differs distinctly from our offer. They are therefore evaluated as complement to our service (demand-driven efforts) and potential partners.

Our business model - the key to success.

By working network-based with experts in various health areas, we easily adapt to trends and needs and can quickly offer demanded services by adding new partners. We are a comprehensive supplier, carefully matching all new partners and services to our high quality standards.

Our digital focus makes us time-, cost- and resource efficient and we become a modern partner to our customers. Combined with the company's nearly 20 years of experience in delivering and developing digital services for health promotion at workplaces, we are a big step ahead of potential competitors.

The main revenue is a subscription fee of 1500 SEK/employee/year, paid in advance the first year, and then a current monthly payment of 125 SEK. This includes a basic set up of activities, use of digital platform, and our analyzes and strategic planning.

In addition, we expect an average income of 800 SEK/employee/year for add-on services provided by partners. In the future, we aim to develop more digital add-on services ourselves to increase our margins.

We also have additional revenues from our already established digital services within physical activity.

The majority of our services are distributed digitally and have no geographical or capacity limitations. Our team and partners use digital devices whenever possible (such as SKYPE and webinar tools).

New customers will be processed both digitally and traditionally using in-house sales force. We have a solid database of satisfied customers who previously used our digital services within physical activities. They are all potential buyers of our new services.

Now we are focusing on growth. Step 1 is to quickly strengthen the team with 4 people to increase sales and secure delivery capacity.

2019: 10 employees, 1,500 users.

2020: 13 employees, 6,000 users.

2021: 19 employees, 20,000 users (19,000 in Sweden, remaining from other Nordic countries).

2022: 20 employees, 30,000 users (25,500 in Sweden, remaining from above + selected European markets).

2023: 23 employees, 50,000 users (37,000 in Sweden, remaining from above + license sales of software platform to overseas countries).

2023: IPO or industrial merger.

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In addition to our key partners that provide services to our customers, we collaborate with several research institutes. Right now, our software is used in Sophia Step Study, a type 2 pre-diabetes research project involving the Sophiahemmet Högskola, Karolinska Institute and Mayo Clinic. We have previously conducted several studies together with Karolinska Institutet and Arizona State University (The AZUKI Step) and the Stockholm School of Economics and Södersjukhuset.

We have agreements with all benefit portals (Benify, Actiway, Wellnet, etc.) where employees get access to our online training service with Paolo Roberto.

The majority (80%) of the capital raised will be used to expand our team with more employees in sales and later also project managers. 20% will be invested in marketing and system maintenance / development, until the monthly cash-flow covers these costs.

Our goal is an IPO or industrial merger within 5 years. By that time, we believe we will be very attractive to many major industrial players that need our expertise and experience of digital health-promoting solutions.

As our software platform is recently developed, in close cooperation with customers, and ready for sale, we passed the greatest risk momentum that a development phase entails. Future risks are associated with our ability to quickly gain market share. To minimize this risk we need to strengthen our market position immediately, by expanding our team with sales and delivery resources.