September has been a busy month for FRISQ. Together with Karolinska Institutet and Sahlgrenska University Hospital, the company was formally awarded an innovation project by Sweden’s innovation agency, Vinnova. The internal restructuring process, aiming to maximize agility and secure internal competencies that are aligned with the changing market needs, continues as previously indicated.
The Vinnova project falls right in line with FRISQ’s previously communicated overall strategy, and strengthens the company’s ability to give relevant and targeted support to Sweden’s three largest healthcare regions – which serve as distinct, transparent and reliable showcases for international expansion. The project focuses on executable care plans for chronic complex diseases, and will run from 2020 through 2022. FRISQ is responsible for the technical development and the company’s existing product FRISQ Care will play an important role for the solution and success of the project. Around MSEK 1.9 has been allocated for FRISQ’s part of the project, and is to be paid out over three years. The aim of the project is to provide and improve professional knowledge sharing within the healthcare industry – as well as build bridges across specialists and care levels. The patient-centric design guides the patient along the designated pathway through a knowledge space shared by patients and healthcare professionals alike. In short, an accelerator of FRISQ’s core business.
Operational adjustments in response to COVID-19
Initiated already in August, the company is currently undertaking a transformational rightsizing and restructuring plan aiming to meet the rapidly changing market needs. As the healthcare industry is coming to terms with the new “in- and post- a Corona world”, FRISQ is quick to align and transform by upgrading and realigning the competence base and adjusting processes to drive a time and market relevant product and commercial strategy.
The ongoing pandemic has been challenging for FRISQ’s target market in the healthcare sector that, by necessity, has been forced to prioritise emergency care over improvements and digitalisation. The need for FRISQ’s services has never been greater as Covid-19 has accelerated and accentuated the demand for remote cooperation, accessibility and patient engagement – in Sweden as well as internationally. The pandemic will not pass quickly, and FRISQ will continue to closely monitor the changes in the market to align the go-to-market strategy, the product and the team, in order to secure commercially viable revenue streams.