RELEASE

eLive Ecosystem Oy strengthened its Board of Directors and shareholder base

The rapidly growing and internationalizing eLive Ecosystem Oy has strengthened its board and expanded its ownership base. The new board members will strengthen the Board’s medical and business expertise. Hannu Summanen, known as a long-term entrepreneur, has joined the company as an investor and has been invited to join the Board.. In addition, Mika Kastarinen, eLive’s Chief Medical Officer and Doctor of Internal Medicine, has been invited to the Board.

In the first half of the year, eLive’s net sales have already quadrupled compared to 2021. Based on the current order backlog, net sales in 2022 are up to ten times higher than last year. Turnover consists almost exclusively of exports to the United States and Europe. Due to the strong demand for the products, the company has doubled its number of employees and multiplied its production capacity over the past six months.

The strengthening of the board base became topical due to the company’s strong growth and the launch of a clinical trial related to the launch of the medical device. When confirmed, the government is ready to increase eLive to the level required to receive international growth funding.

– Specialist Mika Kastarinen’s strong expertise will be made available to the Board at a key stage in the company’s transition as the productisation of our medical device progresses towards launch. Hannu Summanen, on the other hand, brings vision and networks to the productisation and implementation of our business concept, which also contains international novelty value. I am also confident that participating in a share issue for professional investors at such times will signal eLive’s interest as an investment target, says Mikko Saajanlehto, President and CEO.

eLive Ecosystem Oy is a health and well-being technology company based in Savonlinna, founded in 2016, which specializes in non-contact measurement and application of vital functions.

eLive’s devices combine advanced sensor technology, state-of-the-art algorithms and leading-edge measurement accuracy with automated and uninterrupted measurement. The eLive product family includes the medical device to be launched in 2023, research systems and market-leading OEM solutions for measuring sleep and sitting.

Info:

Mikko Saajanlehto

CEO, eLive Ecosystem Oy

+358 50 579 0242, mikko.saajanlehto(at)elive.fi