Aidee Health is gaining momentum - receives 8.8 MNOK from investors

Aidee Health AS is developing a product for measuring continuous blood pressure based on technology from SINTEF Digital and Datek AS. The company is now funded by SINTEF Venture V AS, Datek owners, Stratel AS, Startuplab Venture AS, TRK Group AS and multiple business angels.

Press Release September 27th 2021

Aidee Health AS was formerly known as Datek Smart Health AS, but with the latest funding the umbilical chord is cut and the newborn shall stand on its own two feet with its own name, new owners and a new founding team leading the way. Susanne Ludvigsen continues as CEO, Espen Westgaard as CTO. They are joined by Alexey Stepanov and Trine M Seeberg who makes the transition from SINTEF to Aidee Health AS.

"We are very please with having a new investor group wanting to bet on us and give us the financial freedom to work towards a product launch. This gives us the best opportunity to succeed in launching a product which can revolutionize the way the measurement and treatment of hypertension." - Susanne Ludvigsen, CEO, Aidee Health AS

"In SINTEF I've worked with exiting partners like NTNU Centre for Elite Sports Research, Olympiatoppen and neurologists at OUS and the MS centre using sensors to measure execution and performance during movement. With the sensor belt this changes and blood pressure becomes a parameter which can be measured in the same way as the pulse. It's going to be very exciting to see how blood pressure can be used to optimize training, restitution and treatment both with top athletes and within health services" - Trine M Seeberg, SINTEF Digital (CSO in Aidee Health AS from 1.1.2022)

Aidee Health AS is developing a continuous blood pressure monitor which is attached around the chest like a pulse belt. The focus at product launch is 24 hour ambulatory blood pressure measurements prescribed by a physician. Today's solutions is demanding for the patients, provides limited data to the physicians and makes the treatment of high blood pressure more difficult than it needs to be.

"We're looking forward to receiving simpler and safer 24 hour measurements. Hypertention is 'the silent killer' affecting 1 of 5 women and 1 of 4 men. Here we will get a tool enabling us to help more patients and in a better way" - Hans Jacob Gravdal, General Physicial, CEO and Chairman of the Board, Legene Nord, Sandefjord Helsepark

The solution is now in its 3rd generation and is currently being tested at Oslo University Hospital at Ullevål and Sandefjord Helsepark before the process of regulatory approval starts in 2022. The development project has a strong clinical foundation and has been developed in close collaboration with GPs and patients.

"SINTEF Venture has had a dialogue with Datek for a long time and it is gratifying that we can now finance Aidee Health together with Stratel, Startuplab Ventures, TRK Group and several GPs who know the problem." --Inge Hovd Gangås, Investment Manager, SINTEF Venture

SINTEF Digital began its research back in 2012 and together with Datek AS, it was accelerated in 2018 through several projects funded by the EU and the Research Council of Norway. Datek and its subsidiary Datek Next are still partners in the research project and provide both software and hardware development services to Aidee Health AS. Datek has been through a strategy and capitalization process and is now focusing on the Smart Home and Smart City market, where the company has invested heavily in recent years.

"For us, it was a difficult choice, but at the same time a right choice. We have several areas that require great focus in the coming years, and have chosen to focus on Smart Home and Smart City together with our new owners in Lyse, Haugaland Kraft and Nord-Trøndelag Energi. Aidee Health has a fantastic potential that requires a domain knowledge we do not have in the Datek group. The shareholders in Datek AS received an ownership position in Aidee Health AS as a settlement for IPR and we look forward to following the company from the sidelines. Some also chose to invest more in Aidee Health. " --- Anders Westgaard, General Manager, Datek AS

The demerger of the company also means that Espen Westgaard leaves Datek AS, a company he has had various roles in for the last 21 years, both as a developer, Chief Technical Officer and Chief Executive Officer for seven years.

"This investment has been my main focus for the past three years. Although I would very much like to continue working with Datek, this is a value choice that provides the opportunity to create something that can have an impact on millions of people's lives and health. " - Espen Westgaard, Technical Manager Aidee Health and former Chief Executive Officer, Datek AS

Facts about Datek AS

Datek's journey began almost 25 years ago, as a supplier of Machine to Machine (M2M) for the corporate market. With the advent of the internet, network technology and wireless technology, we have gradually oriented ourselves towards the Internet of Things (IoT) and established ourselves as a solid player in lighting control, smart homes, smart infrastructure, fleet management and consulting services. Datek's vision is to create a world where people, things, infrastructure, cities and systems communicate with each other, and we sincerely believe that it is a better and more efficient world.

Facts about SINTEF Stiftelsen

SINTEF is a broad, multidisciplinary research institute with internationally leading cutting-edge expertise in technology, natural sciences and social sciences. We carry out research as an R&D partner for business and administration and are among the largest institutes for contract research in Europe. Our vision is Technology for a better society.

Facts about SINTEF Stiftelsen's venture capital business - SINTEF Venture

SINTEF TTO is the manager of the funds SINTEF Venture III AS, SINTEF Venture IV AS, SINTEF Venture IV B AS and SINTEF Venture V AS - a total of approx. 1 billion. Fund III is 100% owned by SINTEF, while the others have additional external investors. External investors are the European Investment Fund, Sparebanken 1 SMN, KLP, Gjensidigestiftelsen, Sparebankstiftelsen DNB, Meierienes Pensjonskasse, Reitan Kapital, Orkla and Investinor.

SINTEF's main task is to deliver outstanding research to our customers. Ideas that show signs of going into a spin-out are thoroughly discussed with the research management before the TTO continues to work on commercialization.

Contacts:

• Aidee Health AS, Espen Westgaard, Acting CEO, espen@aidee.io, 920 200 10
• SINTEF Venture, Inge Hovd Gangås, Investment Director, inge.hovd.gangas@sintef.no, 971 69 635
• Datek AS, Anders Westgaard, CEO, aw@datek.no, 905 28 862