Healthcare companies in Latin American countries are actively looking for collaboration with Finnish companies. Finnish Etsimo is landing in Peru after finding the right fit for its offering with local company Lolimsa.
There is attractive market potential for Finnish companies in Latin America. For instance Peru, with a population of 33 million inhabitants, has an expanding healthcare market with needs in telemedicine, cancer treatment and diagnostics. This, combined with a smartphone penetration growing rapidly from 1% in 2010 to 84% in 2020, offers additional opportunities in digital services. Several Peruvian stakeholders have shown strong interest in Finnish technology.
The case of Etsimo is a good example of Peruvian and Finnish companies working together to deploy business models with great potential and positive impact in society. Peru, also affected by the COVID-19 pandemic, is prioritizing the reduction of infrastructure gaps in the healthcare sector. Etsimo and other Finnish companies can help in narrowing those gaps. “The Finnish offering in personalized care with focus in sustainability, personalized care and privacy protection have excellent potential in LATAM” says Nicolás Vassallo, Senior Advisor, Business Finland, who has supported Etsimo’s internationalization efforts in the Andean Region.
After exploring the local market in 2020, Etsimo’s innovative Healthcare Diagnosis Engine (EDE), which combines AI, machine learning and health data, is landing in Peru after it found in Lolimsa the right fit for its offering. “We have been impressed by the professionalism of the team of Lolimsa, and we look forward to working together with them”, explained Etsimo’s CEO, Thomas Grandell. Etsimo is now operating in Brazil and Peru, and has plans for more growth in LATAM, a region of 650 million inhabitants.
“Digital healthcare has become one of the top priorities in many countries in the world and Finland is here in the forefront,” explains Terhi Rasmussen, Global Opportunity Leader for Health & Wellbeing, Business Finland.
Finnish health tech companies offer a reliable path for improving both quality and availability of public services via digitalization in the LATAM region. There is an ongoing transformation taking place with countries such as Peru and Colombia showing more interest in innovative health tech solutions.
“Finnish companies are realizing the win-win opportunities in digital healthcare in Latin America and how their digital solutions create and add a lot of value to local stakeholders. In Peru, for instance, there are economic groups with presence in the entire Healthcare value chain, covering insurance, healthcare centers and pharmacies. This facilitates reaching a large customer base in those segments, when you find the right local partner” explains Vassallo.
“We are proud to continue proactively supporting Etsimo and other Finnish companies in LATAM to make digitalization of healthcare possible” says Heidi Virta, Head of Region Latin America, Business Finland.
Nicolás Vassallo, Senior Advisor, Region Latin America
tel. +51 1 680 2305
nicolas.vassallo (at) businessfinland.fi
Thomas Grandell, CEO
tel. +358 40 9000 474
thomas.grandell (at) etsimo.com
Business Finland is the Finnish government organization for innovation funding and trade, travel and investment promotion. Business Finland's 600 experts work in 40 offices globally and in 16 regional offices around Finland. Business Finland is part of the Team Finland network. Business Finland is an accelerator of global growth. We create new growth by helping businesses go global and by supporting and funding innovations. Our top experts and the latest research data enable companies to seize market opportunities and turn them into success stories. More info on Business Finland at www.businessfinland.fi
Etsimo, based in Finland, uses Ai and machine learning on top of health data, to offer an engaging predictive and preventative solution to healthcare providers and insurance companies globally. Etsimo operates under ISO 13485 and the EDE is a CE-marked medical device in the EU and ANVISA registered in Brazil. More on Etsimo at: www.etsimo.com
Lolimsa is a Latin American company that is specilizied in healthcare software. Lolimsa has installed their product in more than 230 hospitals, clinics, medical centers in 12 different countries. In the past 3 years Lolimsa has launched their last service: Qullana, the first digital hospital in Latin America, where the patient will have more life expectancy than in a traditional hospital. In this kind of service, triage is very important because is the first contact with the patient. We are proud to include Etsimo in our ecosystem to improve the healthcare in Latin America. More on Lolimsa at https://www.lolimsa.com.pe