Business Fortune
Leading digital health and wellness firm Kilo Health offers exceptional chances for visionaries and entrepreneurial talent creating the next wave of digital health solutions.
The company was established with the goal of creating the most interesting and useful digital lifestyle interventions that promote health by treating, managing, or preventing a range of medical disorders.
Kilo Health was established in 2013 and is headquartered in Vilnius, Lithuania, in the European Union. It was recently named second in Deloitte's "Technology Fast 50 Central Europe 2021" ranking, which is a list of the fastest growing technology firms.
I had a conversation with Tadas Burgaila, a co-founder of Kilo Health, in order to emphasize and clarify the concepts the company aims to address in this segment.
Below is an excerpt.
How do you see the current changes in the industry that you serve? Furthermore, what patterns exist within the various categories?
Wellness management is giving way to health management in the digital health space. This shift, in my opinion, will completely alter the way we think about healthcare in general, including how we treat chronic illnesses, prevent illness, and care for our aging parents.
The majority of health technologies used to be one-way. You purchase a wearable gadget or download an app, use it for a while, and then finally become tired of it.
The varied health requirements of a real person—someone with particular health objectives, lifestyle choices, and illnesses—are not met by such a typical program. The missing part was personalization, using the real-time data of a person to present you with tailored health plans that change readily.
Because most problems, including obesity, Type-2 diabetes, or cardiovascular illnesses, can be avoided with blood glucose monitoring and lifestyle modifications, this data-driven approach aids in the prevention of chronic diseases.
Digital diagnostics are also useful in this situation. We'll remember not to contact a doctor if we experience aches or pains in the future. We'll get a call from the doctor. Our wearable technology will notify us in advance if there are any health problems, and we can manage our health information from our smartphones to stay in the best possible shape.
Rather than attempting to manage the effects of an illness that has been diagnosed too late, digital therapeutics seeks to prevent problems and stop diseases from advancing. If you were a real person, your money would be spent on enjoying life rather than on medical expenses.
The conventional healthcare system is ideally suited to these digital health technologies. They ensure that fewer individuals become ill in the first place and that those who do can be detected early and receive treatment that is appropriate for them more quickly.
Where does Kilo Health currently stand in relation to other industry players?
We were a team of less than ten individuals working in a suburban office a few years ago. With more than four million consumers, 500+ specialists, and a range of digital health products, we help individuals in nearly every nation prevent illness and get healthy. We don’t have any customers solely in Turkmenistan, North Korea, and Tuvalu.
We are currently among the health tech startups in Europe with the quickest rate of growth. Since the beginning, our yearly revenue increase has averaged 154%. We already intend to generate a nine-digit new revenue next year in order to fulfill our goal of doubling our revenues once more.
Kilo Health offers verticals for wellness, digital health, and chronic illnesses. Products from independent businesses help people control Type-2 diabetes, keep an eye on blood pressure, take care of their mental health, and overall maintain good health. Among other things, we are developing new items that will support you in forming healthier habits, combating addiction, and attending to the medical needs of your family.
We have developed an ecosystem around health and wellness that may assist anyone in moving forward with their personal health journey.
Our corporate culture is among the unique qualities that set Kilo Health apart. We are one of the most sought-after employers in Lithuania because everyone in the firm shares the same values of freedom, trust, and ambition. I'm confident we'll be able to carry over these ideals when we expand and establish operations elsewhere.
How does Kilo Health help startups in the quickly expanding field of digital health?
We have developed a solid operational, digital marketing and technological infrastructure over the years that enable us to provide top-notch products and swiftly introduce innovative digital health solutions. Naturally, we also oversee a number of other projects in addition to creating the best items in the world.
Our co-found project uses our operational and marketing platform to assist ambitious entrepreneurs in launching new digital health products. We are now choosing the next round of finalists from Berlin, Stockholm, Amsterdam, and Vilnius who will join our platform out of over a thousand pitches from co-founders who want to develop new products with us.
We have also previously put millions of dollars into a number of health IT startups over the past year that offer new ideas and experience in treating chronic health issues.
Lastly, through our educational initiatives at Kilo Academy, we are contributing to the development of the next generation of health IT specialists. With this project, we can make sure that our teams share the knowledge we've accumulated over the years and that we always have specialists on staff who can come up with innovative solutions fast.
But Kilo Health is not limited to that. What other areas are its priorities?
Our platform is used by several of our autonomous business divisions. In addition, our R&D labs are constantly cooking up something intriguing. At least 20% of our skills are devoted to creating and investigating novel concepts.
For example, we are studying the relationship between poor nutrition and an increased risk of cancer alongside scientists from Stanford University.
These initiatives enable us to stay abreast of worldwide developments and seize the opportunity to develop solutions for newly arising issues.
Tadas Burgaila | Co-Founder
Tadas Burgaila is an entrepreneur, investor, and Kilo Health's co-founder. Over the course of his career, Tadas has initiated over 100 projects, the most successful of which being Kilo Health.
