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Santech II

Participatory notes France 70 crowd investors so far
Software to quickly and cheaply deploy e-health solutions
Download Memorandum
€6,509,781
Pre money valuation
38.5%
Equity offered
€58,700
Already invested by crowd
€1,080,981
Committed by pros
26 days
Remaining
€50,000
Crowd target
90
Already 117% crowdfunded

Established in 2012, Santech is a Paris-based software developer of e-health applications.

Santech promotes the idea that end users can actively manage their own health and wellness if they are provided with the relevant tools and services matching their needs.
Santech develops and markets a digital software suite tailored towards the elderly for health, care and prevention, for managing chronic diseases (e.g. diabetes), or to maintain autonomy and well-being in old age.

Through Santech Framework, a generic application, Santech creates new applications at minimal cost, thereby drastically reducing healthcare providers' need for investments.

Major tender wins in 2015-2016 with French public and private health-care institutions has resulted in strong revenue growth for Santech (x12 between 2014 and 2015).

Projected revenues of 2016 stand at 2 Million EUR. To boost its growth and continue to develop innovative e-health solutions, Santech is now opening its capital for an investment between 650k EUR and 4 million EUR.

Problem

Major challenges are ahead of us when it comes to financing our health care system. As costs are increasing and government budgets entered into an era of austerity measures, it will become increasingly difficult to continue financing the current quality of health care. Two observations are emphasizing this:

  • Population ageing has created the need for a thorough reorganization of dependency management methods. Homecare is the preferred solution for elderlies, it entails the development of distant coordination of all the caregivers.
  • Prevention and behaviour change. If nothing is done, the wave of chronic disease will use up, by 2030, almost the entire social security budget. Empowerment of the population to better coordinate various caregivers and promote wellness is the vision held by most of the state policies in Europe and Northern America for instance.

This implies:

  • The emergence of solutions that will allow existing solutions to communicate with each other - interoperability
  • The development of the Internet of Things to facilitate measurements and continuity of care - connected health
  • The generalization of design for all, so that each user can have ergonomic and personalized solutions available to them - modularity and usage creation.

Solution

In this context, Santech offers a complete software suite for the building of portals and e-health applications, ensuring interoperability with existing services. This solution is presented as software that is modular, configurable and user-friendly. It has been tested and validated by our customers (BtoBtoC) and has met with a very favourable reception from the market.

The Santech solution comes as a Framework, consisting of three components:

Santech framework

Santech Studio offers a development suite, allowing to develop rapidly multiplatform interfaces (web, mobile), adapted to the size of the device (responsive design).

Santech Engine encompasses generic functional objects (calendar, messaging, social media), easily customizable.

Santech Connect offers connection with external applications (connected devices, extranet of companies...)

The Santech Framwork results in two types of applications:

  • Tailor-made products: products co-developed with the customer. Examples: MyPrévention, LISA, Stop Tabac
  • White-label apps: apps generated at minimal cost based on the Santech Framework and without customized development. Examples: Aidé&Moi, Mieux Vaut Prévenir

An example of a white-label product developed by Santech can be found here:

Intellectual Property

As a software editor, Santech has not registered intellectual property under the form of patents. However, Santech has full ownership of its developed content:

  • On the developed software upon which its customers' projects are built
  • On the design of its products

Major contracts

SIACI SAINT HONORE (french brooker) : digital portal enabling prevention on any health risk factors identified by employees (20 services ranging from psychological support in case of burn out, to assitance to their family, coaching, ...)

Caisse Nationale Assurance Maladie (french national health fund) :
Prevention program : first application "Tabac Info Services" (more than 50.000 users)

Inter Mutuelle Assistance and Mondial Assistance
Coordination programs for ageing and elderlies

Ville de Paris, Ile de France Region
Program for the coordination of social and medico social caregivers for elderlies

...

Strategy

Marketing strategy

Santech communicates as follow :
1 - Santech is a leader in the development of user-centric solutions that develop usage. Santech has developed two "off the shelf" products that have been tested by independent experts who state that Santech has been able to develop high recurrent usage rates for elderlies (Aidé et Moi) and for the healthy population (Mieux Vaut Prevenir). These products are shown in some exhibitions and through press releases.
2 - Santech has developed a technical platform enabling the development of innovative user centric services dedicated to health. Santech's Chairman, Christophe Lorieux, is participating in many events and is recognized as an expert of e-health.

Distribution strategy

Santech operates on a B2B2C basis: Santech clients are those who have an interest in their clients, or people they care for, staying in good health:

Insurers:
They are adressed directly thanks to "on the shelf products" or indirectly thanks to brookers or assistors.
Each have up to 10 millions insured people.
With the www.myprevention.fr and www.mieuxvautprevenir.fr deals for instance, Santech is ideally positioned to adress employees insurance.
Some partnerships with two majors assistors in France (Inter Mutuelle Assistance and Mondial Assistance) are perfect channel sales to adress health individuals insurance.

Regional health Agency and cities :
They are the ideal channel to adress the ageing population and patients who have to face some complex situations.

The French National Health Insurance Fund and Old-Age Insurance fund :
It is the channel to address national prevention programs.

Internationalization strategy

Santech’s business model and market access strategy is scalable outside France.

This will be achieved by current international customer accounts (SIACI Saint Honoré, Inter Mutuelle Assistance), current international commercial partnerships (via Healthways France, acquired by the American company Share Care) or opening of local offices in targeted countries.

Moreover, a partnership with the PWC Accelerator in Luxembourg is dedicated to start an in-depth analysis of the market potential of some pre-identified targets in Europe and North-America and their distribution channels. The objective is to adress 2 or 3 new countries by the end of 2017 that will be organized as follow :
- one strong market access accelerator (likely to be an integrator or a software editor specialised in health for professional)
- a light team made of 1 salesman and a pre-sales plus a technical support team as soon as a project is launched.

Main partners

Santech has partnerships with the following groups of actors:

  • Academic: INRIA, IMT - Research partnerships with research laboratories
  • Clusters: Cap Digital, Agoranov, Institut de la Vision - associations clustering the most innovative companies and the industrials in the connected health ecosystem
  • Innovation support: BPI France, Paris Région Lab, Région Ile de France, Coface - financing structure facilitating the access to loans and grants

As far as sales are concerned, Santech adresses most of its end users through partnerships with healthcare specialists.
For instance, the Caisse Nationale d'Assurance Maladie has been adressed thanks to Healthways a specialist of prevention programs in the US.
Insurees of Sogecap have been adressed through a commercial partnership with Mondial Assistance.
Employees of Engie are using our solution thanks to Siaci Saint Honore.
Some bids might be won thanks to a similar approach.

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