Momo Medical helps healthcare workers answer the question: Who needs me? We do this by placing our patented bed sensor with internet connection under the beds of all nursing home residents.

With the Momo App, healthcare knows who gets out of bed, the activity level and the level of activity to prevent falls and bedsores. Healthcare workers waste no time checking in on well-sleeping residents. This results in 28% fewer falls, more job satisfaction for healthcare and a saving of time 2 to 3 hours per shift.

Momo Medical offers healthcare organizations a subscription. For this they receive the App, BedSensen and the Connect network. 

• With the app, employees can see at a glance who needs their care 
• The Momo BedSense under the mattress detects large and small movements, such as heart rate and breathing. 
• Momo Connect is the communication network of BedSensen that communicate with each other via WiFi. This forms a stable network to connect other healthcare technology. 

Momo Medical was founded in Delft by TUDelft Alumni with a heart for healthcare. The subscription model gives Momo a Recurring Revenue. The costs for a delivery are covered in the first subscription year. Production and development is done in Delft, which helps us to respond directly to market demands and to scale up quickly and in a controlled manner with high quality. 

Now put 171 locations of healthcare organizations in the Netherlands and 6 in America have entered the Momo App. More than 6.600 nursing home residents now use a Momo BedSense.

Compared to other bed sensors, the Momo BedSense distinguishes itself by its high reliability that produces fewer false alarms. The Momo BedSense has a unique combination of sensors that measure pressure and vibrations. This combination of sensors makes the insights of the Momo BedSense reliable and enables more insights such as mobility and liveliness. We also have a patent in this area.  

The Momo BedSense also provides the basis for product extensions with detection of sleep, epilepsy, apnea, and pattern recognition such as reduction of mobility, detection of bladder infections, worsening of dementia. Once an algorithm has been developed, new functionality can be added with a simple “over the air” software update, the hardware remains the same. In 2023, work will be done on, among other things, the development of pattern recognition in mobility, sleep behavior and predicting the risk of falls and in the detection of an epileptic attack.

Thirty percent of caregivers will retire within 10 years, while twice as many elderly people will join them. According to research, the shortage of healthcare providers will increase from 49 thousand in 2022 to approximately 135 thousand people in 2031.   

The number of elderly people is increasing due to the aging population and in 2022 there were already 22.000 people on the waiting list for a place in a nursing home. People will continue to live at home longer and will only come to the nursing home if there is no other option. 

In nursing home care, there is therefore an increase in both the severity of the care need and the number of elderly people who need care. This will further increase the pressure on healthcare providers in the coming years.

Absenteeism among employees is high and filling rosters is becoming increasingly difficult. This is how the human dimension disappears. The attention and safety of nursing home residents is coming under pressure. 

“Do you know why there are so many flexible workers at night? This is due to absenteeism. Nobody wants to stand up at night because it is chaos, you have no overview. Any form of greater overview helps fill the night shifts, which is why the healthcare workers were immediately enthusiastic about the BedSense” (Fatima, nurse at Innoforte) 

The Momo BedSense App reduces the workload by taking care of inspection rounds, false alarms and administrative tasks. 

The Momo BedSense App helps healthcare with the answer: who needs me?

The Momo BedSense consists of an app, sensor plate, and the Momo Connect network. The App enters one a glance overview of all residents for whom care staff are responsible.

The BedSense lies under the mattress and has advanced technology that detects micro and macro movements. For example, breathing can be detected through any mattress. Algorithms translate measurements into insights that are easy to understand.

Together, the BedSenses form a communication network, because they are interconnected. Momo Connect forms a stable network to connect other sensors, even in locations where the WiFi network is inadequate. 

The visible information for healthcare includes: 

• whether a resident gets out of bed; 
• whether a resident is restless; 
• whether a resident still shows a sign of life; 
• whether a resident is in a position for too long, which creates a risk of pressure sores and cramps 

The method in healthcare is changing, first all residents were disturbed in their rooms for security checks. With the momo BedSense The app offers person-oriented care. The care goes to the residents who need help, the other residents have privacy and peace in their own room. 

Healthcare organization AuntLouise in Bergen op Zoom has been involved with Momo Medical since the start and has now been working with BedSense for three years. Jan-Kees van Wijnen, Board of Directors: “Thanks to the BedSense App, we know when we should or should not visit a resident. This significantly improves their night's sleep. For our employees, the BedSense App means a reduction in workload and more job satisfaction.” 

Net sales have grown significantly in the past year. In 2022, turnover increased by €400.258. This is an increase of more than 200%. This growth is driven by the 237% increase in the number of paid BedSenses. 

A total of €2023 in turnover was achieved in the first two months of 175.494, which is an increase of more than 175% compared to the same period last year. The number of paid systems in nursing homes increased by 183% during that period. 

The market's acceptance of BedSense has recently translated into the successful conclusion of several framework agreements. 

The year 2023 has started strongly with a Monthly Recurring Revenue (the contracted turnover per month) in February of €82.003, which translates into an (expected) annual turnover of €984.040. This amount does not yet include the proceeds from the new subscriptions that will be taken out in the remaining 10 months of 2023.  

The studies (customers where the Momo BedSense is installed and introduced to experience the benefits themselves and measure the actual returns) form the ''pipeline'' for the subscriptions. The number of Momo BedSenses in these studies grew from 257 Momo BedSenses in January 2022 to 2.262 on February 28, 2023, which is a growth of 780%. 

This concerns the entire Dutch market 130.000 nursing home beds. PG beds (beds in the psychogeriatric care department) are increasingly the most relevant and growing target group for using a Momo BedSense. 

The total available European market for the nursing home sector consists of 3,7 million beds. This amounts to a market potential of € 1,3 billion (3,7 million x € 30 per month x 12 months).

In the Netherlands, 171 nursing homes work with the momo BedSense. There are 6 healthcare organizations operating in North America. In Belgium, contracts have been concluded with 3 organizations. The first exploratory discussions about starting the Bedsense began.

A small selection of the healthcare organizations that are currently working with the momo BedSense.

Partners

Founder: Menno Gravemaker

Multiple entrepreneur with a heart for healthcare. He is convinced that care is about people helping other people. However, current technologies do not sufficiently support this. He completed his Electrical Engineering studies at TU Delft and was awarded third prize at the national 3rd Royal SMIT sustainable energy award. He has also held various additional positions, including at the international networks for electrical engineering and computer science EESTEC and IEEE. Menno participated with Momo Medical in the renowned start-up accelerator Y Combinator in Silicon Valley.

Furthermore, Momo Medical Group Inc. a board of directors consisting of Lester Wold, Rini van Solingen and Menno Gravemaker. The board of directors of Momo Medical Group Inc supports the management of Momo Medical Holding BV with advice and advice. Sherwin Sheik is a consultant.

Below you will find a complete overview of the group's structure as of 2023-01-25:

€11 was raised during the previous NPEX issue (issue date August 2022, 999.500). Other parties have also invested or provided financing, such as Guqula (€500.000 invested in Momo Medical Group Inc. through a SAFE) and Rabobank (€1.000.000 through a loan to us).

With this financing, the number of BedSenses has grown considerably and the Customer Service Team has been expanded. In addition, integrations with sensors have been realized that increase the value of Momo BedSense, such as smart incontinence material.

The acceptance by the market has translated into the successful conclusion of the following framework agreements: Mijzo, Pieter van Foreest, Laurens, Amstelring and ICWB. More than 6.600 nursing home residents now use a Momo BedSense.

The Dutch market remains the growth engine for further expansion of innovative solutions to more healthcare environments.

We want to borrow a maximum of € 1.750.000 from investors. We want to borrow at least €800.000 from investors. We want to do the following with the borrowed money. 

• First of all, we want to increase the sales/implementation team from 5 to 17 FTE by the end of 2024. To realize our growth ambitions, we need a larger team. It is important to invest in relationships with healthcare organizations and to carefully guide healthcare employees. We automate practical matters, but human contact remains essential. We have reserved €500.000 for this expansion.
  
• Secondly, we want to strengthen the R&D team with 10 FTE by the end of 2024. By continuing to develop the functionalities of the Bedsense, we strengthen our market position. .      We currently have the following broad R&D goals: API link with electronic client file, reports and insights for practitioners, expansion of online project platform to support scaling up within healthcare organizations. We have reserved €350.000 for this expansion.   

• Thirdly, we want to build up a safety stock of components. Due to the changing market situation and recent geopolitical developments, the delivery of goods sometimes takes a long time. We intend to build up a stock with which we can guarantee the production of 10.000 systems. This is expected to cost €200.000.
• Fourth, we want to stockpile finished product systems. We expect the number of start-up organizations to grow. At the start, healthcare organizations receive a free study with the conclusion of the benefits of the BedSense App for the healthcare organizations. The healthcare organization then decides the size of the project. The decision time often takes longer than previous forecasts. We assumed three months, but in practice the duration is four to five months. In our financial model we now assume a study duration of six months. Given the longer study duration, the growing number of studies and the fact that the systems must be pre-financed, we need an amount of €500.000 for this.
• Fifthly, we want to free up money for the initial connection costs. The BedSense App was initially only used by the night shift, but increasingly the day and evening shifts are also using it. The broader usability of the BedSenses is a positive development because it means that the value for healthcare increases. The use during the day shift also entails the need for more supporting peripheral items (such as telephones en 4G routers) are required to support use. We want to use €200.000 to pre-finance these higher connection costs.

Investing always involves risks. The main risk you run is that Momo Medical Holding BV has no money to repay you or to pay the interest. This could happen if, among other things, we do not attract sufficient additional financing in the future, profitability is disappointing or a major customer of ours withdraws. Then you may not receive any repayment of the loan and you will not receive any interest.

No further guarantees are provided. For the complete risk analysis, please refer to the Information Memorandum and the information document. 

 

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*To be calculated based on the nominal value of the bonds in the portfolio on the coupon payment date and to be offset against the (monthly) interest payment.