Strong growth paves the way for growth and internationalisation
2020 was an intense and profitable year for the Health-tech company Dynamic Code. The pandemic kick-started the advent of digital care and the increased volume of self-testing in 2020 due to Covid-19 meant that Dynamic Code’s concept proved to be an effective way of contributing to a socially distanced healthcare system. Dynamic Code’s key area of business has grown by seventy percent, in addition to the increase attributable to Covid-19 tests. The company is now ready for expansion and internationalisation.
“2020 was a very intense but successful year that gave us the opportunity to show the large scale nature of our concept in conjunction with the pace of healthcare digitalisation speeding up. It was also a year when we needed to work extremely hard, take action and deliver solutions quickly to meet the increased need for testing in the the second half of the year,” says Louise Nylén, CEO för Dynamic Code.
Swedish Covid-19 PCR test developed for the Public Health Authority
Dynamic Code's own Covid-19 PCR test quickly became an important part of the national large-scale testing carried out by the Swedish Public Health Authority. At certain points during the year, the company accounted for ten to fifteen percent of Sweden's total testing capacity. Dynamic Code has recently invested in creating capacity to perform 50,000 Covid-19 PCR analyses per week for the Swedish Public Health Authority. The agreement with the Swedish Public Health Authority is a significant part of Dynamic Code’s 2020 sales and creates future opportunities for product development, expansion and internationalisation.
“The digitalisation of healthcare has made huge progress this year. Many diagnoses require a trustworthy test result and we can offer this without the patient needing to be seen physically. We offer a range of tests via various channels such as e-commerce, pharmacies and digital care providers and this contributes to the streamlining of care,” says Louise Nylén.
Strong growth in our range of other products
Despite the strong focus and the increased resources allocated to Covid-19 tests in 2020, Dynamic Code's core business also developed strongly with a growth in sales of seventy percent. Examples of products that have shown growth throughout the year are self-testing kits for chlamydia, bacterial vaginosis, skin and nail fungus, and sore throats.
“It’s clear that Dynamic Code’s concept of self-testing and laboratory analysis for secure diagnosis is expanding in several areas. In 2020, we also launched a Throat test (Strep A), Covid-19 antibody test, SKIN self-testing and a brand new test for self-testing for gluten intolerance (celiac disease), which will help people receive a result they can trust in just a few days,” says Anne Kihlgren, founder of Dynamic Code.
Stepping into a new position in the healthcare system
Dynamic Code has stepped into their new position as an important part of the healthcare chain with an increase in e-commerce and a positive reception from traditional and digital care providers. Their method for providing a trustworthy diagnosis without the patient having to physically visit a clinic or testing point reduces pressure on the healthcare system so patients can get the correct diagnosis and receive care more quickly.
“Covid-19 will also have a significant role to play in 2021, but as the pandemic eases, we will focus on our other tests that provide precision diagnostics for primary care and preventive medicine. Care providers and consumers are becoming increasingly interested in distanced diagnosis. We will continue to develop our concept and deepen our partnerships with pharmacies and digital healthcare providers. We also plan to expand into Europe during the year” says Louise Nylén.