Finnish start-up company Quattro Folia Oy has signed a pan-India distributor agreement with Mumbai based Balansio Care (Pvt) Limited for its Balansio service. Private sector hospitals and clinics are signing up with Balansio Care for using the Balansio to extend improved monitoring and management of their patients.
Across the world, there are 425 million diagnosed diabetics and four million diabetes-related premature deaths annually and in India, there are over 70 million diagnosed diabetics and one million deaths due to diabetes annually. In 2017, worldwide diabetics healthcare costs were 727 billion USD with India spending on average 119 USD in healthcare costs annually for a diabetic patient. In Finland, the average is 5400 USD annually per diabetic and most of this cost goes to complication care. In Finland, there are 350k diagnosed diabetics.
“Balansio as software-as-a-service suites well to Indian markets as it is cost-efficient and can easily scale to the needs of India’s large and growing population with diabetes. We are delighted with the opportunity to enable better care for diabetics in India. India is a very important first step in our strategy to bring Balansio available for diabetics worldwide." – comments Harri Okkonen, CEO of Quattro Folia
“With a growing population of 1.3 Billion and diabetes on the rise in India, healthcare professionals are today challenged in providing quality services to diabetics. There is an urgent need to leverage technology for a clinically certified platform with built-in efficiencies for diabetes monitoring and management. With the help of cost-effective cloud service as Balansio diabetics in India will get the needed support from healthcare professionals in the everyday life and learn to be more effective in self-care." – comments Dr. Anoop Patel, CEO of Balansio Care India
Following the signing of India partnership agreement, Quattro Folia representative and management consultant, Vendor Junction FZC based in the United Arab Emirates, is now extending Balansio presence Saudi Arabia, United Arab Emirates, Pakistan and Sri Lanka in partnership with leading companies in the healthcare industry.
Balansio is designed for daily better care balance, to lower HbA1c levels and lower diabetes-related complication risk. The service enables clinicians to provide care and support based on the patients timely. This way blood glucose variations (hypos and hypers) and causes which leads to them can be detected in time and changes can be made immediately. This way we can reduce the amount of the hypos and hypers and achieve better care balance. Lifestyle and treatment changes can be done one be one which is the best way to achieve needed results towards better care balance.
Balansio includes smartphone application for Android and iOS phones and browser-based software – Balansio Pro for clinicians. The application receives data automatically from most common blood glucose meters, FreeStyle Libre (Finnish market) and activity applications. Additionally, carbohydrates and meal sizes, insulin and other self-care data can be input in the application manually. All the saved data to the application is available also for clinicians in Balansio Pro. Balansio’s clinical artificial intelligence identify different problems form the user’s data and give to user and clinician different observations and possible reasons and solutions to the problem. To solve the resource problem Balansio reduces the need for physical appointments because all the needed issues can be handled remotely. For clinicians Balansio Pro brings up the patients who needs attention and their key care guidance needs and organising the patients based on their care need. The application is integrated with A1c estimator to follow up the care results, boluscalculator for rapid-acting insulin calculation, and basaltitrator to find the right dosage of basal insulin better. Balansio is a CE marked medical device.
* IDF Atlas (8th edition, 2017)
** Diabeteslitto, www.diabetes.fi/diabetes/yleista_diabeteksesta/tilastotietoa, 28.6.2018
Finnish startup company Quattro Folia was founded in 2012. Company’s mission is to promote care of the long-term diseases by using modern technology. Quattro Folia develops regulated and demanding CE marked clinical devices Software as a Service (Balansio) for professionals and individuals. Quattro Folia has also founded a specialized diabetes clinic “Lääkärikeskus Neliapila”, which has played a significant role in Balansio development. Now, the company has about 30 employees.
Headquartered in the United Arab Emirates, Vendor Junction is an International business development and exports trade consulting company assisting corporates, SMEs and start-ups in Europe and North America in expanding their business operations and generate new revenue lines in the high growth the Middle East, Africa, South Asia and ASEAN markets.
For more information contact persons:
VP, Business Development and Marketing
+358 50 486 7516
Dr. Anoop Patel
CEO, Balansio Care (Pvt) Limited India
+91 986 742 9015
CEO, Vendor Junction F.Z.C
+971 52 922 4818
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