The RINTECH company entering into IT Group signed in July, 2012 the investment agreement with the Life Button project specializing in the systems of an emergency call of the help ("medical signaling") for elderly and physically disabled people. According to the agreement, the project investment cost from RINTECH will make more than 35 million rubles. These means will go first of all for development of infrastructure, R&D, works on creation of own equipment and also for expansion of sales channels.
The Life Button project was founded in November, 2010 by graduates of the full-time MBA "Skolkovo" program. Essence of service is as follows: the equipment equipped with the button, clicking which is a signal that the person needs the help, is provided to the user (in more detail ─ below). Services of this project, unique for Russia, are still focused only on elderly people, disabled people and patients with a serious chronic illness, however creators already have plans for an output to the market of a product for children. Despite the youth, Button of Life already became the winner of a number of entrepreneurial tenders, such as BIT, Telecom of the Idea, "Business success", "Startup of year". Creators of the project are included into the list of 10 most perspective entrepreneurial commands according to the rating of the PRUFFI agency. Also Button of Life is one of three brightest startups of 2011 according to Forbes.
"Our interest in this project is not accidental – several years ago we in IT Group thought of start of similar service. Then, after market research and communication with medical community it was decided not to develop this direction. And what our surprise when learned about start of the similar project was. Of course, for last years technologies strongly evolved, but for certain also the principle "in ignorance force" worked here, children just did not know those problems of which we thought in due time. They entered the market and showed the result, sufficient to believe in their future progress, – Kuptsov Sergey, the CEO of RINTECH company noted. – In this transaction I see first of all explicit synergy effect. For years of work the RINTECH company saved up deep examination in a technique of creation of medical information systems for the corporate sector. It will help to structure Life Buttons technology which use is possible not only in mass market, but also in the public and corporate sector. In turn for RINTECH is an exit to mass market where before we practically did not work".
"Frankly speaking, we had alternative investment offers and even from higher pre-money project evaluation. However selected IT Group as attraction of more "smart" money for Button of Life is simply difficult to be provided. The RINTECH company combines technology examination, knowledge of specifics of the industry of health care and also has the good settled communications in this market, – Dmitry Yurchenko, the Life Button project manager said. – We are grateful to IT Group for the put trust. Earlier we had only two reasons for pride: it was succeeded to save several lives and to survive. Now appeared still at least as much – we can be proud of participation in big IT family and attraction of the first million dollars on socially important case".
"Even during training at Skolkovo business school we were going to build the market leader of m-Health of the CIS – the world-class hi-tech company which increases quality and life expectancy of people, – Irina Linnik, the development director of the Life Button project tells. – Our project was initially considered as the platform for start of new products. Already now we deeply plunge into remote condition monitoring of human health, we study a possibility of application of neural networks for the analysis of the indications collected far off with ability to integrate into the federal system of medical archive. And here resources of one of leaders of this market, RINTECH company, really will help us".
2014: The IIDF will invest 45 million rubles in "The life button"
The Internet Initiatives Development Fund (IIDF) invests 45 million rubles in the Life Button project. For "The life button" this financing became B round; earlier the project received investments from IT Group, and at an early stage the pool of angel investors invested in the project.