Finnish health technology for diabetes treatment enters to Indian markets

BALANSIO ENTERS INDIA HEALTHCARE MARKET FOR DIABETES MONITORING AND MANAGEMENT

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.

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 – SERVICE FOR SUPPORTED REMOTE DIABETES CARE

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