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Abelcare

Lab testing services offered directly to the consumers

Belgium
Market: Medicine
Stage of the project: Operating business

Date of last change: 15.02.2020
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Idea

We enable consumers to access laboratory testing first hand, and then getting a follow up according to their needs.

Current Status

We have officially launched our direct to consumer lab testing in November in Belgium. We started with few tests, so far related to sexually transmitted diseases. During 2020 we will add more tests and also expand geographically to other EU countries.

Market

The market keeps on increasing due to the raise in numbers of sexually transmitted diseases. In countries like Germany, over 2,5 million test are done each year.

Sexually transmitted diseases are on a rising trend, last year chlamydia cases increased 63% in Belgium. Similar trends are observed all across Europe.

For the product we currently have on the market our target group are sexually active people between 18-45 years old.

Problem or Opportunity

People don't get tested frequently enough for certain preventable, treatable or manageable conditions, therefore, cases keep on increasing. This is particularly true in sexually transmitted diseases, since they spread easily and can have serious consequences such as infertility.

Solution (product or service)

Offering an easy way for people to get tested is key to solve that problem. Therefore Abelcare offers testing kits that can be purchased online, individuals then take the samples at home and send those sample back through the post mail. 72 hs later, results are available online, where next steps are explained.

Competitors

There are some competitors in Europe but particularly not any competitor in Belgium that is offering the same services. A direct competitor is Testalize.me present in the Netherlands and Germany. Other large direct competitor is letsgetchecked.com, with strong market shares in the USA.

Advantages or differentiators

Abelcare's advantage over its competitors is in the streamlined user journey. We aim to add AI based self assessment and 'which test should I get?' tools to enable the user to properly select the tests. After they get the results, a list of possible doctors he could go to or a telemedicine consultation will be available. Streamlining the whole user journey and cutting waiting times.

Finance

Main highlights of our financial plan:
- 2 years time offering 5 products: 2 STD basics testing, 4 STD testing, 7 STD full testing , Women's health test and Men's health test.
- By year number 3 we will have expanded to Germany, France, Spain and the Netherlands, estimating our sales in a total of 28.000 test sold.
- At the end of year number 3 we will be making 4 million in revenues.

Business model

We have a B2C model but we have been approached by several companies asking for our services in a B2B2C environment. Which might make great sense in order to increase our reach.

Money will be spent on

Money will be spent in
1. Expanding geographically, mainly marketing, and product adaptation to other countries.
2. Product development
3. Personnel.

Offer for investor

We would like to invite investors that are passionate about healthcare to join us. We are a dynamic team of 4 people, we have the legal, business, science and technical skills and we are looking for investors that can bring added value to the team. We are open to discuss a share percentage that makes sense for both parties.

Team or Management

Risks

The main risk is having other competitors going for the same workflow. Since digital health is not at it's peak yet, it is a matter of time until more services like ours appear. Since direct to consumer lab testing is the future disruption of the lab testing industry, it is a risk not being fast enough.

Incubation/Acceleration programs accomplishment

Currently finalizing our 1 year program of incubation at Start it @ KBC in Belgium. We took part in the 2019 batch.
Recently accepted into the Medtech accelerator in Belgium. Starting Feb 2020.
Also recently accepted in the Validation program by Digital Atraxion in Belgium. Starting Feb 2020.

Won the competition and other awards

People's award at Women in Tech pitch competition in Belgium.

Photos

Photo 1 - Lab testing services offered directly to the consumers
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video