Brain+ expands its first sales contract
close to doubling it
- This is important because it shows the potential for growing engagements with customers after an initial contract has been established
- The contractual expansion happens only 3 months after the closing of the sale in December 2022
- Denmark is an important reference market for Brain+, and the total municipal market potential for the full future suite of Brain+ CST-based products is estimated at 200 million DKK
In December 2023 Brain+ closed its first sales contract with Herning Municipality, and Herning has chosen to expand that contract, nearly doubling the contractual size. The original contract was for the basic package of the CST-Therapist Companion, with therapist access to one training facility. The new expanded contract is a municipal-wide license allowing all therapist teams working with people with dementia in Herning Municipality access to the basic package, and the contract length has also been extended from 1 to 1.5 years.
The first contract is always the most difficult, and often only involves one care facility, but it opens up for access to an entire municipality. This is an example of how quickly a contract can grow, and considering that this is the first product, the first version, and the basic service package, we see significant growth potential.
Kim Baden-Kristensen, CEO & Co-founder of Brain+
Higher tiers, more services, more care facilities
Existing customers have the option to choose higher tier packages, including services, and to expand to cover more clinics/training centers or the entire municipality allowing for the expansion of contracts and value, and this is what the first Danish municipal customer, Herning Kommune, has chosen to do. The expansion of the contract with the municipality of Herning confirms the expectation (31.12.2022, Brain+ closes 2022 with the first municipal sale) that the first sales open the doors to larger and longer-term agreements that create value for both people with dementia, the municipalities, and Brain+. Brain+ is in ongoing outreach and dialogues with the 30+ municipalities that are using Cognitive Stimulation Therapy, and each municipality can have many care centers that can be customers.
The mission of Brain+ is to make effective treatments for cognitive decline in Alzheimer’s accessible to everyone as digital therapeutics
