Home care robotics company Evondos partners with institutional investor Tradeka-group ltd to ensure growth
Corporate press release, 26 November 2018
Evondos Ltd has ensured growth financing in coming years through a directed share issue authorised by an extraordinary general meeting. The arrangement sees Finnish co-operative owned Tradeka-Group Ltd investing EUR 2 million in Evondos. This will be accompanied by additional investment from Serendipity Partners, a lead investor in Evondos since last year. These subscriptions complete the investment round.
“Tradeka will bring us very welcome additional depth of industry expertise. This investment round will secure rapid growth and development at Evondos,” says Wenche Rolfsen, who chairs the Board of Directors at Evondos.
Rolfsen notes that Tradeka will also give Evondos new prospects for lobbying the public sector, and that this is also an example of increasing confidence in the unique service concept that Evondos has developed.
“We have secured many new customers over the last year, and our services are already in demand in Finland, Sweden and Norway, where Oslo is also our single largest client city. We are now clearly moving from the pilot-testing phase into broad service roll-out. For example the City of Oulu is integrating our service into its home care processes,” Rolfsen continues.
The buy-in at Evondos is a part of the strategy of Tradeka under its Create New category of generating new business, whereby Tradeka seeks to promote restructuring of the Finnish economy through investment and to support new expertise, innovation and job creation in Finland.
“The investment in Evondos meets the targets that we have set in the Create New category. Evondos is developing a service concept in health technology with strong export potential, and is also providing employment in the Salo region that has suffered as technology industries evolve. We see potential in using Evondos medicine dispensing robots as part of the ONNI home care business operation in the Tradeka group,” explains Tradeka-Group Ltd CEO Perttu Puro.
Evondos CEO Eetu Koski is also pleased to see the investment round successfully concluded:
“Securing this funding gives us an opportunity to plan our operations in the longer term. We have targeted profitable growth and now have every expectation of achieving this aim. Our customer base, number of invoiced service packages and turnover are increasing rapidly. This capital investment in Evondos supports the achievement of our long term targets.”
For further details please contact:
Wenche Rolfsen, Chair of the Board, Evondos Ltd, tel. +46 73 331 9156
Perttu Puro, CEO, Tradeka Ltd, tel. +358 40 779 3436
Co-operative Tradeka is a ownership co-operative serving approximately 225 000 members. The leading principle of Tradeka is meaningful ownership and carrying out a more humane market economy in practice. Tradeka-Group Ltd is responsible for executing the co-operative’s ownership policy. Tradeka-Group Ltd’s holdings are classified in four categories; Own and develop, Invest and preserve, Create new and Be patient and execute. Tradeka-Group’s fully owned subsidiaries comprise of Restel Ltd which operates in the restaurant business, Lehtipiste Ltd which is a magazine distribution and marketing company also operating automated parcel delivery dispensaries, Med Group Ltd which provides home and care services and Tradeka-Invest Ltd which is in charge of Tradeka’s investment activities. More information www.tradeka.fi/english
Evondos is a health technology company based on Salo, Finland, supplying a robotic medicine dispensing service to ensure that home care clients on long term medication regimes receive the right medication at the right time and in the right dosage. The service improves medical adherence and safety while realising significant cost savings and quality enhancements. Check the website at www.evondos.com for further details.