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Select Wellness Nordic AB

Solutions for healthier workplaces

We make employers' investments in employee health profitable.
By using our research based working model and modern digital platform, we help our customers to conduct a systematic health promotion work focusing on measurable results and the company's return of investment. We identify and implement actions that lead to increased well-being for the individual and a healthy and productive workplace culture.

Investor proposal

In 2017, mental illness (often stress-related) posed 47% of all sick leave in Sweden. Although the actual production loss is estimated to be 8.7 times higher than the actual cost of sick leave, most companies lack both tools and resources to measure this cost and even less to prevent it. Add a sedentary lifestyle with devastating health consequences. 46% of the Swedes have a cardio respiratory fitness so low that it's threatening their health!

Our research-based working model combined with our modern digital platform, are the right tools to break a negative trend and create healthy workplaces with healthy employees!
For investments over 500,000 SEK, please contact [email protected]
Companies investing at least 100,000 SEK receive a 50% discount on the subscription fee for 1 year (valid for up to 600 employees).
Private persons who invest at least 4500 SEK receive a 3 month subscription to our online training service, www.15medpaolo.se

The company has four external lenders that intend to convert their loans to shares by 31/2, 2019. The maximum number of shares that can be issued for this purpose is 4 751 shares.

Product

The problem this product solves

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.

How the product solves it

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.


Product features

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.

Product use cases

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.

Team

Jan Sjöbeck avatar
Jan Sjöbeck CEO and Founder
Jan is an entrepreneur who successfully started several companies in different industries. He has introduced both the audio book, which became "Årets Julklapp" in 2006, and the step competition on the Swedish market. Jan's primary strength is to build long-term business relationships and to constantly find new opportunities.
Thomas Bödefeld avatar
Thomas Bödefeld Chairman of the board, Founder and Key account
Thomas is a co-founder of the company and has been active in sales from the beginning. His and Jan's professional relationship started over 30 years ago. Thomas's strength lies in his customer focus. He is passionate about meeting the needs of our customers and developing solutions that make our users ... See more
Thomas is a co-founder of the company and has been active in sales from the beginning. His and Jan's professional relationship started over 30 years ago. Thomas's strength lies in his customer focus. He is passionate about meeting the needs of our customers and developing solutions that make our users happy. See less
Mia Skoog avatar
Mia Skoog COO
Mia has been part of the team since 2008. She started working with sales and marketing and has been in charge of our product and concept development. She has a MBA in Business Administration and has previously worked at McKinsey & Company (2006-2008). Mia is a strategist with great implementing ... See more
Mia has been part of the team since 2008. She started working with sales and marketing and has been in charge of our product and concept development. She has a MBA in Business Administration and has previously worked at McKinsey & Company (2006-2008). Mia is a strategist with great implementing power. See less
Charlotte Lindström avatar
Charlotte Lindström Project Manager
Charlotte started at Select Wellness 2011. She manages our physical activity competitions and supports our clients in planning and marketing. Charlottes strength lies in her professional and solution-oriented approach. She is driven by giving our users fast service and creating long-term customer relationships.
avatar
Jenny Ström Digital strategist
Jenny is new to the team. Using her extensive expertise in digital marketing she will build our social media strategy and expand our social media sales channel. Jenny is educated copywriter and digital strategist. She has many years of experience in sales both in B2B and B2C. Her strength lies ... See more
Jenny is new to the team. Using her extensive expertise in digital marketing she will build our social media strategy and expand our social media sales channel. Jenny is educated copywriter and digital strategist. She has many years of experience in sales both in B2B and B2C. Her strength lies in her strong goal and performance focus. See less

Market

Target Market

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.

Competitive landscape

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.

Unique differentiator from competitors

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.

Company revenue streams

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.

Product/service distribution

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.

Execution

Previous milestones/traction

  • 1999: Steg!, the first online step competition is launched.
  • 2004-2012: "Korpens Stegtävling" is arranged yearly. In 2008 only, the contest had ~60 000 participants.
  • 2008-2011: Online activity contests in Norway are arranged yearly in collaboration with Norsk Bedriftsidrett.
  • 2006: New name: Select Wellness Nordic AB.
  • 2008: Askeleet, a yearly step competition in Finland is launched.
  • 2011: 30minuter.com is launched
  • 2012: Collaboration with Rädda Barnen - "Rädda Barnens stegtävling" begins
  • 2013: 4 new online activity contests with well-known profiles are launched.
  • 2017: "15 med Paolo" a subscription service for B2C is launched.
  • 2018: Digital plattform "Sustainable Work-life" is ready for sale.

Next key objectives

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.

Previous Financing

eng

Partnerships

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.

Use of funds

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.

Industry Certifications/Awards

  • The AZUKI step study, 2009. Karolinska Institutet, Sweden, Kermanshah University of Medical Sciences Iran, Oslo and Akershus University College of Applied Sciences, Norway, Arizona State University, USA,
  • The Effects of Step Contests on Physical Activity: A Randomized Trial, 2010. Department of Economics, Stockholm School of Economics, Stockholm
  • Winner of Microsoft Web Award 2011.
  • Support for physical activity in individuals with prediabetes and type 2 diabetes in primary care – the Sophia Step Study, Karolinska Institutet, Sweden

Return on Investment

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.

Risk Analysis

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.