Finland’s Koite Health launched its Lumoral oral health solution in 2020. Now, the Espoo-based company aims to double its annual turnover with the help of international partnerships that can bring the Lumoral innovation to new markets for dental professionals and consumers.
”We have received excellent international traction and are negotiating with billion-dollar players worldwide. Our oral health technology is recognised as exciting and our solution innovative,” says Sakari Nikinmaa, CEO and one of the founders of Koite Health.The global oral healthcare market is estimated to be worth €470 billion. Koite Health aims to capture a share of it with their Lumoral solution. The company already has thousands of satisfied customers and ambitious future growth targets. Now, the aim is to make Lumoral a major global brand in the oral healthcare market through international partnerships.The pace of internationalisation of the Espoo-based company has been very fast. During the first half of 2023, Koite Health has signed several significant partnerships that have given it a strong foothold in Finland, Sweden, Italy, Germany, the Baltic States, and Denmark. Currently, the company is negotiating with potential distribution partners in France and the UK.”New partnerships are being established all the time,” says Tero Pasanen, Commercial Director at Koite Health.“The benefit of partnerships is, among other things, increased customer feedback, which we can use in developing our products and services further, Pasanen says.
Lumoral has been well received internationally due to the device’s ease of use and existing clinical evidence.
Photo: Lumoral’s patented LED light technology combined with the light-activated, antibacterial Lumorinse mouthwash, effectively and safely removes bacteria from the surface of the teeth and gums.
Clinical evidence and ease of use as spearheads
One of the most recent partnerships was signed with Megagen Italy in May 2023.”The Italian company has annual sales of around 100,000 dental implants, and we aim to make Lumoral a part of Megagen’s implant treatment protocol. In other words, dentists providing implant treatment in Italy would recommend Lumoral for all their patients before and after implant treatment,” says Pasanen.Lumoral has been well received internationally, mainly due to the device’s ease of use and existing clinical evidence, Pasanen says. Distributors in the implant market, particularly, are essential for Koite Health.Lumoral treatment is suitable for all patients – also children above the age of three. It has also been clinically proven to support the oral health of implant patients and the success of dental implant treatments.”The solid clinical evidence of the Lumoral device gives Koite Health credibility in the health technology field and a significant advantage over many other startups in the industry,” Pasanen emphasises.
Oral diseases affect practically everyone
Koite Health has come a long way from the initial product development and piloting phases, but the health technology product development is still ongoing. The company had a turnover of €750,000 in 2022, but like many startups in the early stages of their growth story, the operating result was negative.According to CEO Nikinmaa, the company’s results are expected to improve significantly over the next year as it scales up its operations. The critical break-even point is expected to be reached in 2025.”Our growth rate is excellent,” Nikinmaa says. ”The market is significant because dental diseases are common, affecting practically everyone. Our solution could have a substantial impact on this field.”The potential customer base for the growth company will certainly not run out immediately. More than half of Finland’s population suffers from gingivitis, and the World Health Organisation (WHO) has made improving global oral health one of its top priorities.The WHO’s Global Oral Health Status report shows that nearly half of the world’s population (45% or 3.5 billion people) suffer from various oral diseases. Oral diseases have increased by one billion cases worldwide over the past 30 years.Photo: Koite Health presenting recent scientific studies on Lumoral treatment at IDS 2023, the leading global trade fair for the dental community.
Poor oral health comes at a cost
Lumoral is a health technology product with a medical device status for the treatment and prevention of oral diseases at home. Many dentists as well as the Finnish Association of Dental Hygienists already recommend the new teeth cleaning method, which improves traditional oral hygiene. This supports the company in achieving its revenue growth targets.The response to periodontitis treatment has been limited so far. The disease is most often caused by long-term inadequate oral hygiene. Traditionally, the treatment response has been thought to reflect the patient’s motivation to care for their mouth at home.However, studies have shown that brushing removes only half of the plaque.The antibacterial photodynamic (aPDT) method that is used in the Lumoral device is significantly more effective and better tolerated than the chlorhexidine-based mouthwashes that are commonly used today. Lumoral treatment does not replace mechanical oral hygiene but enhances it.Untreated gum disease maintains and exacerbates a low-grade systemic inflammation in the body and is associated with many common conditions such as diabetes, cardiovascular disease, and cancer (1, 2).The largest European periodontitis study found that treatment outcomes for periodontitis improve significantly when residual plaque is regularly removed from the mouth. In the past, antibacterial PDT therapy could only be performed in dental clinics, but now the treatment can be performed at home. Koite Health’s medical grade device can prevent and treat even the most severe forms of the disease.
Unique innovation for a global challenge attracting investments
Lumoral innovation gives new hope to dentists who treat their patients with difficult-to-treat periodontitis, emphasises Timo Hildén, investor and board member at Koite Health. Hildén is the former CEO of the Revenio Group, which makes tonometers and fundus cameras, among other products.He points out that prevention and treatment in dental care are increasingly moving from clinics to homes. On the other hand, public resources are now under severe pressure in Finland as well as globally.
Any means of improving dental care and preventing the outbreak of oral diseases are of great social importance.
”Any means of improving dental care and preventing the outbreak of oral diseases are therefore of great social importance. This is why Lumoral can potentially revolutionise the global market for oral self-care,” Hildén says.In the health technology sector, worldwide global growth rarely succeeds without significant investment. Hildén admits that times are challenging for many Finnish growth companies, as investors are cautious, and valuations of many companies have dropped.”In Finland, where it is more difficult to raise growth finance than in the vast US market, you must have a credible investment case to attract investors. However, for investors, the current situation with lower valuations also offers opportunities to get involved in companies with new potential.”After his retirement, Hildén invested a significant pot in Koite Health. Having studied also dentistry, he was already familiar with the company’s sector. He also recognised the company’s growth potential and potential for international success – just like Revenio Group’s, whose innovative rebound technology had never before been seen on the market.”I looked closely at the company’s background, and the product it was developing – one that is unavailable elsewhere. After the background work, it was easy to decide to become an investor in the company,” he says.Read more:
Brushing your teeth is not enough – Finnish innovation treats and prevents periodontitis efficiently
Finnish health tech startups: Koite Health created a high-tech mouthwash
Health Capital Helsinki
