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Neko Health, the body-scanning start-up founded by Spotify's Daniel Ek and Hjalmar Nilsonne, has arrived in New York. The company was founded in Sweden, has so far raised almost one billion dollars (around 870 million euros), and according to its own figures there are more than 300,000 people on its global waiting list. The check-up examines blood, skin and metabolism, takes an hour and costs 500 dollars (around 440 euros). Insurance doesn't cover it.
The story of the American expansion is told by an investor: Farooq Abbasi of Preface Ventures, who has put money into the company. He claims Americans rarely go for preventive check-ups because they fear the cost. "I think preventive care and healthcare should be cheap and accessible," says Abbasi, talking about a 500-dollar service paid out of pocket. The consolation is that the cost should be eligible for US health savings accounts. Abbasi has been scanned twice so far and, unsurprisingly, is thrilled: "I think there should be Neko clinics everywhere."
The product, he says, has grown a lot since he first tried it. "When I was scanned in the first generation, it was a blood test with 15 biomarkers," he recalls. "This time it was 55." Neko also uses computer vision for the check-ups, and Abbasi sees that as proof that artificial intelligence is improving medicine. According to him, this isn't another trendy wellness toy, but something that gives people "concrete insights for a better life".
All this is said by a man who makes money if the company succeeds, and Neko still has a long way to go in the US, especially with expansion and regulatory approvals. The irony is hard to miss: a start-up from Sweden, a country with public healthcare, is now growing in the country whose health system is known for its problems. Is 500-dollar prevention the future of medicine, or just a new way for the wealthy to feel even healthier?
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