X-akseli, the Finnish leader in patient flow management systems, accelerates growth with Standout Capital

X-akseli, a leader in patient flow management systems for health care providers, is partnering with Standout Capital to accelerate both domestic and international growth. The Company sees significant continued growth opportunities in supporting health care providers to improve patient flows and clinical efficiency, allowing health care professionals to spend more time with patients and less time on administration.

In addition to partnering with Standout Capital, who will become the Company’s largest shareholder when the transaction completes, the Company is also pleased to announce that three experienced independent directors will be joining the board as part of the transaction; Mr. Åke Stråberg, Mrs. Marie Öberg Lindevall and Mr. Antti Larsio. Mr. Stråberg, who will become the company’s new Chairman, is currently Chairman at Swedish Bra and was previously CEO of Qmatic, the world’s largest queuing solution provider. Mrs. Öberg Lindevall is currently CEO of Cityakuten and was previously CEO and co-founder of Helseplan, management consultants in healthcare. Mr. Larsio recently joined The Finnish State Development Company Vake as leader of Health and AI and was previously CIO at Hospital District of Helsinki and Uusimaa.

“The need for good and efficient service to patients is increasing significantly from all parts of the health care sector, in Finland and internationally. We want to be able to invest more in our software and services for our customers and expand internationally. To do that we wanted to bring in a growth partner with resources, experience and networks to fulfill our next growth phase. We are very happy to have found Standout Capital as our partner and three highly experienced new board members.” says Janne Argillander, CEO and founder of X-akseli.

“Meeting with X-akseli’s customers it is evident the Company offers tremendous value in an industry with scarce resources focusing on care and efficiency improvements. We aim to provide active support to Janne Argillander and his team as the Company enters its next growth phase.” says Erik Wästlund, Partner at Standout Capital.

The investment by Standout Capital in X-akseli is expected to close in early May.

Contacts and further information

Janne Argillander, CEO, X-akseli, +358 40 555 6229, janne.argillander@x-akseli.fi

Erik Wästlund, Partner, Standout Capital, +46 70 755 79 69, erik.wastlund@standoutcapital.com

About X-akseli

Founded in 2008 in Espoo, X-akseli offers its software platform to over 60 customers in Finland, ranging from the largest University Hospitals to smaller healthcare providers. The visible part of the platform runs on self-service kiosks that handle patient self-check-in and provide navigation guidance through the hospital visit, thereby significantly reducing patient queues and freeing up costly hospital resources. The system also provide information to the hospital staff about the patient ahead of the visit as well the patients current location in the hospital- enabling staff to speed up processes, saving time and money on more efficient use of doctors, health care staff, receptionists, equipment and rooms. The Company also offers information screens in hospital waiting areas and lobbies, directing patients as well as displaying general information. By the end of 2018, the company employed 35 people and generated a turnover in 2018 of €3.8 million.

About Standout Capital

Standout Capital is a Stockholm-based private equity firm investing in growing Nordic tech companies. As an active owner, our mission is to partner with outstanding companies and founders to help them grow and succeed. The investment strategy is to support technology enabled, later stage companies growing with profitability and we typically own 30-70%. Our investment team build on experience in entrepreneurship, investments and finance and our investors are leading financial institutions. The fund size is SEK 1 billion.www.standoutcapital.com

Standout Capital I AB benefits from the support of the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020)