- Backed by over 90 investors
Software developers Santech are offering a package that enables customers to quickly and cheaply deploy e-health solutions.
The suggested Loan should provide you with a gross annual return of 6 %. Depending on our results during this year, the return could reach 12% (see part Deal).
To improve the lives of users and their teams through the provision of innovative applications for the prevention, support and coordination of healthcare providers.
Marketed as a B2B2C product, this software package is already in use:
- By the military insurance provider, the GMPA, covering 270,000 members, as part of the smart health initiative, Mieux Vaut Prévenir.
- By the ENGIE group (formerly Gaz de France - Suez) as part of MyPrevention, an offer made by SIACI Saint Honoré, the leading portal for participatory prevention in business.
- By the City of Paris by developing “Aidé et Moi", an application for the oversight and care of dependent persons, improving the reporting of information on their health status and the coordination of persons who visit their homes (associations, services, family, etc).
The Santech offer is a timely arrival in France as it responds to the issues arising from a new dual awareness:
- Population aging has created the need for a thorough reorganization of dependency management methods.
- Prevention and behaviour change. If nothing is done, the wave of chronic disease will use up, by 2030, almost the entire social security budget.
- 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). Usage creation is explained in the short film below.
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 and has met with a very favourable reception from the market.
Mieux Vaut Prévenir - Health record
A sample application developed in a few weeks using our tool.
We operate on a B2B2C basis: our clients are those who have an interest in their clients, or people they care for, staying in good health:
Insurers: they have between 500,000 and 5,000,000 insured people and aim to address them in full. They work on deals with total monthly costs, including services, that should not exceed 5 euros per insured client. With the www.myprevention.fr and www.mieuxvautprevenir.fr deals, Santech is ideally positioned to respond quickly to these needs, in a market with very little competition.
Pharmaceutical companies: they consider the fact that a chronically ill person must subscribe to medical treatment and aim to integrate a range of support services.
Regions and social sponsors: they address populations ranging from the hundreds to thousands of recipients. They expect a subscription-based offer based on comprehensive services, including accommodation and quality service.
Our goal is to establish business partnerships with pioneering stakeholders who have access to the market. This is the case with the partnership with SIACI Saint Honoré for everything to do with the world of insurance (see above).
We have also initiated two similar actions to address the market for individual insurance as well as that of the pharmaceutical companies. If both of these actions materialize, which should happen in the next 6 months, then we have the potential to capture over 30% of the market for relationships between recipients and their healthcare providers.
This is also the reason why we are also prospecting large institutional accounts that have a monopoly on their business, such as the French CNAM (the National Health Insurance Fund), CNAV (the National Old-Age Insurance Fund) or ARS (the Regional Health Agency).
Secondly, once we have an installed base of several hundred thousand licences, we will have credibility with the integrators, who can then offer our solution in their responses to calls for e-health tenders.
Apart from institutional clients, our clients are global players with an international approach to their markets.
For example, SIACI has planned to earn 50% of its turnover outside of France, and therefore plans to internationalize the MyPrevention offer with us.
Similarly, customers of the solution such as Engie (formerly Gaz de France - Suez), employ the majority of their employees abroad and will eventually want to deploy the solution for all of their employees around the world. We hope that the deployment will begin with Europe, to prepare the creation of service packages in each country.
Eventually, we would like to establish a privileged partnership with a world-class integrator such as Cap Gemini, Ernst & Young, Atos or Accenture, so that they can distribute our solution to their clients.
Our solution is fully configurable and cannot be sold as a standalone.
We therefore go through a solution configuration phase, which is invoiced to the customer. The results of this (specific developments, design and ergonomics) are transferred to the customer. Santech retains the intellectual property rights relating to its software solution, but guarantees to each customer the uniqueness and full ownership of the specific elements of the solution delivered to them.
Barrier to entry
Our interoperable, modular and user-oriented software development model is unique in the market today. It offers us a number of competitive advantages (speed of implementation, modularity, deployment cost) and is the result of years of work. We believe it is impossible to develop a similar solution in less than a year, or even 18 months. This is an initial barrier to entry which should be reinforced very quickly once we have deployed our solution widely among our customer-base. Deployment speed, that is to say the number of distributed licenses, will be key to creating the barriers to entry, and this is the challenge for 2016.
Collective market - Employees
MyPrevention operated by the group SIACI Saint Honoré and deployed in October 2015 for the ENGIE group (formerly GDF Suez). More prestigious customers are currently signing up. Each new account signed up can bring in between 40,000 (large groups) and several million licenses (large mutual insurers and partners who will work with the white label version).
Mieux Vaut Prevenir, a digital health record, deployed by the GMPA (the military insurance provider) for insured families. The ongoing merger of the INEO and GMPA insurers takes the number of the targeted population to over 270,000 people.
- The Ile de France Region: development of an application for teenagers to prevent obesity.
- Ile de France: implementation and maintenance of support services for the operational coordination of Paris-area fitness trails.
These contracts together should allow us to reach more than €1.2m in turnover in 2016. The weighted amount of the "short listed for tenders" part of our prospecting book should help to increase this to €1.8m.
Excluding "new business", with in particular many prospects in the pharmaceutical and insurance industries, we project a turnover in 2016 of around €2.4m.
Santech has forged numerous partnerships:
- Academic : INRIA, IMT, UPMC
- Cluster : Cap Digital, Agoranov, Institut de la Vision
- Innovation support : BPI France, Paris Région Lab, Région Ile de France, CDC
- Lobbying : MEDEF, Syntec, commission TIC & Santé