Nightingale Health has entered into an agreement with Kaiser Foundation Health Plan Inc. to analyze 50,000 blood samples from the Kaiser Permanente Research Bank. As part of the agreement, Nightingale Health will analyze the 50,000 blood samples with its proprietary technology and deliver the blood biomarker data to the Kaiser Permanente Research bank. At the core of Nightingale Health's strategy is to bring the company's proprietary blood analysis technology to healthcare use globally by first demonstrating its clinical utility in large biobank sample collections.

These collections provide the scientific evidence base required for translation and large-scale population-level clinical use. Nightingale Health has already successfully executed its strategy in Europe where it has made available to researchers the analysis results from 500,000 blood samples via UK Biobank and started the first large-scale clinical implementation with Finland's private healthcare provider, Terveystalo. Terveystalo has replaced clinical chemistry tools with Nightingale Health's biomarkers and risk prediction models in routinely performed health checks which cover approximately 30% of the Finnish working population.

Analyzing the samples from the Kaiser Permanent Research Bank will start by the end of June 2024. As additional information to the previous Company release, the company estimates, that the agreement will have no impact on the company's revenue and profit in the current financial year ending 30 June 2024, or the impact on revenue and profit in the current financial year will be very small. The company estimates that the agreement's impact on the revenue and profit in the next financial year from 1 July 2024 to 30 June 2025 will be significant in relation to the company's current revenue level.

However, the timing of the revenue recognition depends on blood sample shipment and analysis schedules, and is uncertain. The impact of the agreement on the company's profit is positive.