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Financial Times: Evondos among Europe’s fastest growing companies

Briefing | 02.03.2021

Financial Times, the world’s leading global business publication, has awarded Finnish Evondos among Europe’s fastest growing companies. On 2nd of March 2021 Financial Times published the FT 1000, compiled with Statista, the research company. The FT 1000 presents the thousand fastest growing companies in Europe. 

On Tuesday, 2nd of March 2021, the Financial Times released the FT 1000 list of the 1,000 fastest growing companies in Europe, compiled with Statista. In the list, the Finnish health technology company Evondos has been named the 211:th fastest growing company in Europe. Evondos placed as the second fastest growing company in the pharmaceutical category and the 13th fastest growing company in the Nordics. 

“We are proud to have Evondos listed as one of the fastest growing companies in Europe. Over the years, we have invested in commercialization and sales, and as a result we have achieved significant growth. Several pioneering municipalities and cities in the Nordic countries have chosen the Evondos service due to its quality and reliability’’, says Eetu Koski, CEO of Evondos.

Evondos is a Finnish health technology company founded in 2008. The company offers an automated medicine dispensing service. The technology-based service consists of a medicine dispensing robot delivered to the home care client's home, a remote care system, and numerous other service elements that support independent living at home.

“The Evondos medicine dispensing service ensures that home care clients always receive the right medicines at the right time and in the right dose automatically. Our service improves the quality of medical care, patient safety and supports independent living at home. With our service, more than 8 million doses of medicine have been distributed safely and correctly’’, Koski comments.

Strong growth in revenue led to the nomination

Financial Times is a prestigious financial publication founded in London in 1888. Financial Times published the FT 1000 list of the 1,000 fastest growing companies in Europe for the fifth time. The list includes the European companies that achieved the highest compound annual growth rate in revenue between 2016-2019. 

Evondos has grown strongly in recent years in terms of revenue, profitability, and number of employees.

“Our revenue in 2016 was 871 thousand euros. In year 2019, we achieved a revenue of 7 million euros and our revenue increased by 74 percent from the previous year’’, Koski states and continues:

“In addition to strong revenue growth, we pushed EBITDA into a positive side and the same trend has continued last year. In addition, we have increased our headcount significantly in 2020. During the exceptional year, our headcount increased by more than 20 percent compared to 2019 and we managed to reach the 100th employee milestone.”

Verdane supporting the future growth of Evondos

In early 2020, Evondos attracted growth partner Verdane to support the company's growth.
“Verdane is an investment company specializing in growth companies and partnering with promising Northern European technology companies to help them get to the next stage of international growth”, Koski emphasizes.

“We intend to accelerate our growth in the future, both in terms of revenue and other metrics. The investment brought by Verdane is a significant factor in supporting our future growth and enabling strong scalability. We are the market leader in the Nordic countries and the partnership with Verdane strengthens our international growth”, Koski tells about the company's future plans.

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