Translation: Original published in Finnish on 9/24/2026 at 8:15 am EEST.

Nightingale Health announced on Wednesday that it has signed a service agreement with Archipelago Health to bring its test to the British Crown Dependencies, Bermuda, and the Caribbean. The news is an expected next step following the letter of intent announced in July and demonstrates the company's ability to advance negotiations swiftly to a commercial phase. We view expansion into new geographical areas as positive, but like previous market entries, we estimate that the initial volumes of the agreement and thus its immediate financial significance will remain limited. The news therefore does not cause changes to our forecasts, but it does support our expectations of strong growth in the coming years.

Service integrates into existing primary healthcare

Under the agreement, Archipelago Health will offer Nightingale's test under its Longitude brand in the primary healthcare of island nations. The service utilizes existing care pathways, as samples can be taken either as a traditional venous blood sample at doctor's appointments and laboratories, or as a fingertip blood sample. Nightingale aims to bring its preventive technology to the market without the need for heavy new infrastructure. Particularly in small island nations, where economies of scale are often lacking, we consider such a low-threshold deployment to be a prerequisite for introducing new technology. The initial testing is scheduled to begin in Jersey in November 2026.

Volume scaling determines the financial value

Moving from a letter of intent to an actual service agreement within a few months is, in our view, an encouraging sign of the functionality of the company's sales pipeline. Although Archipelago Health is a fairly new operator and the target market in island nations is limited, the agreement opens yet another distribution channel for Nightingale. As we have previously emphasized, Nightingale's value creation relies entirely on the strong growth of test volumes, and entering into new agreements is at the core of the company's investment story. As an individual agreement, the economic significance of the Archipelago cooperation will likely remain small in the early stages, but it complements the company's growing partner network. We will follow the ramp-up of the cooperation with interest. However, from the perspective of the investment story, our main focus remains on how the volumes of the company's largest partnerships (such as Terveystalo, Pathology Asia, and Boston Heart) will develop in the coming years.