N Health Technology Group’s mission is to provide the most professional and comprehensive therapy services in the therapy industry and to enable a superior service experience for our clients through the development of digital services. The Group aims to build a comprehensive therapy business portfolio and operate as one of the leading therapy companies in Finland.
The year 2021 was a successful one for N Health. Although the Covid-19 pandemic changed the business environment and the psychotherapy market experienced changes during the spring, the company managed to ensure the development and growth of its business functions during an exceptional time. N Health’s turnover grew by 265%, the number of employees increased by 205%, and customer visits increased by 250% (excluding Äänneloikka Oy). In addition, we opened several new offices and today, our network of offices covers nearly all of Finland. The excellent client work done by therapists in group subsidiaries, the recruitment of new therapists and the launch of a new business segment in speech therapy, aligned with our strategy, were key drivers of this growth. We can be very pleased with our results in 2021.
“We can be very pleased with our results in 2021”
In November, N Health completed the most significant acquisition in its history. Äänneloikka Oy (known as Äännekoulu) became part of the group and at the end of 2021, making N Health’s product portfolio built around mental wellbeing and speech therapy services. Äännekoulu has been a leading player in the speech therapy sector and the integration of the company into the N Health Group will strengthen Äännekoulu’s business and enable continued growth in the coming years. The acquisition significantly increased N Health’s share of the market in various therapy businesses and demonstrates the company’s ambition to become a leading player in multiple market segments.
The operating environment was challenging partly due to the impact of the Covid-19 pandemic. There were some Covid-19 cases among the stand at N Health’s subsidiaries and customer behaviour changed significantly as a result of restrictions. Terapiatalo Noste was successful in transitioning its operations to remote consultation services. Therapy consultations were partly transitioned into remote consultations, enabling the continuation of valuable client work despite the change in the operating environment. The services at Äännekoulu, on the other hand, are built around face-to-face and remote therapy services. The Covid-19 pandemic contributed to strengthening Äännekoulu’s market position as a remote therapy provider as it functions as the partner to more than 100 municipalities providing remote speech therapy services. Despite the changes in the operating environment, the Group’s customer satisfaction rates continued to improve. This is a great vote of confidence from our clients and a fantastic testament to the professionalism and passion of the people at Noste and Äännekoulu – both as individuals and as a communities.
The business of N Health is growing steadily and the Group’s subsidiaries are major players in their respective business segments. In the future, we see new opportunities for growth and one of our strategic priorities is to further expand the Group’s portfolio in terms of products and and services. During 2021, the Group analysed and explored different therapeutic areas and it will expand its product portfolio with new therapies going forward. In addition, the Group will continue to develop digital services, launching a new product portfolio for psychotherapy in 2022.
We expect that the demand for therapy services will remain strong in the near future. As the social welfare system is being reformed, we want to help welfare regions improve the well-being of their inhabitants. We’re also focusing on businesses and their employees by providing services targeting mental health and mental well-being. The purpose of our company is clear, and it plays a central role in people’s lives. Together, we will continue to do work that is highly relevant for individuals and society at large. We are a socially responsible actor and an excellent partner both for the private and public sectors – today and in the future. Our daily work, improving accessibility, availability and affordability of the therapy, is not just business mission but a mission that has direct impact on the healthcare and wellbeing of the society.