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Analytikerkommentar

New study on benefits of Nightingale blood test in identifying cardiovascular disease risk

Nightingale Health

Oversigt

  • Nightingale Health announced a study showing its blood test, when combined with current methods, improves detection of cardiovascular risk factors, published in the European Heart Journal.
  • The study by the University of Cambridge found that adding Nightingale's blood test to the SCORE2 risk screening tool enhances accuracy in identifying high-risk individuals for cholesterol-lowering treatment.
  • The study reinforces the clinical value of Nightingale's technology, supporting its strategy to replace or supplement existing healthcare risk prediction methods.
  • The findings strengthen Nightingale's position for broader agreements with healthcare providers and support its long-term goal of integrating its technology into healthcare routines.

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Translation: Original published in Finnish on 12/18/2025 at 8:35 am EET.

On Tuesday, Nightingale Health announced a new study showing that, when combined with current methods, the company's blood test can improve the detection of risk factors for heart attacks and strokes. The study was published in the prestigious European Heart Journal and provides independent scientific evidence of the clinical value of the company's technology.

Nightingale's analysis helps improve cardiovascular disease risk assessment

A study by the University of Cambridge investigated whether the standard risk screening tool, SCORE2, could be improved in accuracy. SCORE2 results were successfully improved in three different ways: 1) by adding blood tests using Nightingale's technology to SCORE2, 2) by adding 11 clinical markers to SCORE2, or 3) by adding a polygenic risk score (PRS) to SCORE2. The best results were achieved by adding all three additional methods to SCORE2. 

A key finding was that using additional methods (including Nightingale's blood analysis) helps more accurately identify high-risk individuals who should be recommended cholesterol-lowering treatment. According to the model used in the study, better targeting of treatment would lead to a significant reduction in the number of cardiovascular events (such as heart attacks and strokes).

The study was published in the esteemed European Heart Journal, lending weight to the findings within the scientific community. The journal is the peer-reviewed flagship publication of the European Society of Cardiology (ESC). The ESC publishes Clinical Practice Guidelines, which are used to formulate national treatment recommendations in the EU and in around 50 other countries worldwide.

Study reinforces evidence of clinical value of Nightingale technology

At the heart of Nightingale's strategy is to replace or supplement existing healthcare risk prediction methods with its own blood analysis technology. As we have previously pointed out, convincing the conservative healthcare sector of the benefits of new technology is one of the company's key challenges. The comprehensive, independent study now published provides precisely the kind of clinical evidence that healthcare systems typically require to support the adoption of new methods.

The results support the company's value proposition that its technology can identify hidden risks better than current standards and target treatments more effectively. This is a key argument when the company negotiates broader agreements with public healthcare providers or insurance companies. Another advantage of the Nightingale method is its low price point.

Study supports commercialization in the long term

The published study is positive news for validating the company's technology. At this stage, it is difficult to predict the practical impact of the new findings on risk assessment practices. In the short term, current practices are unlikely to change, but adding NMR metabolomics biomarker scores to national risk assessments could naturally be a very positive development for Nightingale in the long term. We believe this news strengthens Nightingale's position at the negotiating table and supports the company's long-term goal of integrating its technology into healthcare routines. The company's technology has already been approved for use in healthcare in several markets and is used in occupational healthcare in Finland and Singapore. A broader international breakthrough will likely proceed one step at a time.

Nightingale Health operates in the medical technology sector. The company specializes in the development of medical technology products. The product portfolio is broad and includes platforms and services within blood analysis that are used for disease prevention purposes. In addition to the main business, service and related ancillary services are also offered. The business is operated globally with the largest presence in Europe.

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Key Estimate Figures19.09.2025

202526e27e
Omsætning4,77,98,8
vækst-%7,7 %67,2 %12,1 %
EBIT (adj.)-19,4-17,3-15,2
EBIT-% (adj.)-413,7 %-220,4 %-172,8 %
EPS (adj.)-0,30-0,27-0,24
Udbytte0,000,000,00
Udbytte %
P/E (adj.)neg.neg.neg.
EV/EBITDAneg.neg.neg.

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