This has been reported by the site Psychologisk.no Thursday.
– We have cooperated with Core IMS for a long time. 20 years ago, through research, they developed their own mapping tool for measuring treatment outcome. They have a strong foothold in the UK, says Joachim Vie, daily director of Norse Feedback.
The British company was acquired by Førde, and expanded from 15 employees in Norway to Core’s seven employees in the UK.
Much greater potential
– We found that if we can take the technology and the system even further, we must have complete control. Their life’s work was to be abandoned, but we managed to maintain good cooperation. Now we’ll take the Norse to England and prove a number of hypotheses about how Norse and Core can provide more patients with better treatment.
What does an acquisition mean for an investment in Førde?
– We have ten employees here in Førde, and will hire at least one person who can be a liaison between Norway and England to operate the technology there at the same time we update it. There is great potential in Core. It’s a small organization content with its size, Fey says, but the potential is much greater.
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There are seven Core employees in England. The company has a turnover of around NOK 12-13 million. Vie wouldn’t comment on the cost of the Norse acquisition, but believes the risk is small.
The danger lies in the fact that two different companies with two different cultures will merge. Core is a well-established company with no excess debt. Turnover has been stable and consistent, increasing slightly year over year.
You will invest more in Fordy
Vie and Norse can hope that the result of the acquisition will improve their service. Clients are currently professionals, municipal health services and private mental health players.
– We have spent a long time establishing ourselves in Norway. Core and we are working towards the realization of the public health system. Then it takes time. The acquisition gives us access to a large market with many users.
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In any case, Norse will continue to hire employees at Forde.
– With our technology, we’re not counting on people being here, but we want to build jobs here and a culture, says Vie.
– Isn’t it more difficult to get the best people in Førde, than to hire them in the big cities?
– We have built the organization into a niche which means you almost have to work with us to gain experience. We have ten employees here who are very good at what they do. I don’t feel like it’s a problem to impress the good people of Førde. What we work with is attractive.
– I recently had a conversation with a potential new employee who might have to move here. He emphasized the same thing you’ve heard before: working with solutions that make people’s lives better is rewarding, and those people don’t grow fast.
Norwegian Notes
Norse Feedback is based in Peak Sunnfjord and was established in 2018.
The company grew out of the Norse research project, where Professor Christian Molto and psychologist Sam Nordberg developed the Norse method.
The purpose of the company was to develop and market the world’s first dedicated mental health mapping and conversational tool: Norse Mental Health and Addiction.
Moltu and Nordberg, together with Kunnskapsparken Vestland on behalf of Helse Førde, are the principal owners of Norse Feedback.
As of February 2022, Norse Feedback has raised NOK 36 million in private capital, valuing the company at NOK 100 million.
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