Two business lines and global presence
Physitrack is a global digital healthcare tools provider with staff on four continents, customers in 17 time zones, and millions of end users in 187 countries.
a. Lifecare - a Software-as-a-Service (SaaS)-based software platform tailored to healthcare providers performing physiotherapy and musculoskeletal care, encompassing clinical home exercises, education prescription, outcomes tracking, onboarding and Telehealth.
b. Wellness - Software-as-a-Service and care services powered by Physitrack Group technology by Champion Health with corporate wellness and care professionals in the UK, Germany and the Nordics.
Lifecare offering - tailored to both small and large healthcare establishments
The Physitrack technology platform digitizes the entire client journey, from initial contact to client interactions and outcomes tracking, empowering practitioners to deliver better care.The SaaS platform is offered through a cloud-based software suite that can be tailored by customers to specific client needs and is also offered as a white label solution. The Lifecare offering caters to payers such as corporates, insurance companies and hospital operators through in-house physiotherapists using Physitrack technology in parallel with hands-on care as needed with specific client types. Customers pay us monthly or yearly recurring subscription fees for access to our technology.
Wellness offering - Leverages world-leading tech to provide excellent care
Following the acquisition of several care providers and Champion Health in 2021 and 2022, Physitrack has extended its offering from a pure technology offering to also include virtual care, catering predominately to corporate payers that pay us based on our ability to make their employees feel better, thus decreasing staff turnover and increasing staff retention.We consider there to be a paradigm shift ongoing in how Wellness is delivered and perceived. Through strategic initiatives and acquisitions, Physitrack deems it prepared to monetize this opportunity.
M&A program - accelerating growth and technology edge
Physitrack's organic growth is complemented with acquisitions, serving to increase the user base or for new market entry. Furthermore, we continuously identify acquisition targets that can add value to Physitrack's product range, unlock certain market segments and ensure growth of Physitrack's enterprise customer base.
Physitrack was born out of an ambition to make a difference for millions of patients around the world by introducing powerful, easy-to-use technology for the engagement with their care providers. Our business has grown drastically, our technology has evolved significantly and we have provided substantial shareholder value over the years thanks to a growth strategy that combines customer-led innovation with sound financial management and a disciplined, well structured M&A program.
World-leading products and services
Our innovation is world-class and we never, ever lose sight of the end goal of our products and services offering: To be the best provider our customer's money can buy.To achieve this, we have a symbiotic relationship with our customers, who make sure that we keep evolving our product offering so that they can achieve the best results possible, wherever in the world they are.Our product team has time and time again designed, tested and launched new features in weeks to the joy of our customers, who learn of our innovation in our monthly newsletter Physitrack Connect.
Low risk, high growth, diversified revenue generation
We believe in moving fast, scaling our offering to market segments and geographies with a high potential for monetisation while keeping costs in check. We have a number of tools in our tool box to achieve that - notably our own localisation technology, a multi-lingual and a multi-geographical team of relentlessly hardworking individuals and access to an intelligent and dynamic customer network of care providers that knows its local markets and also speaks every conceivable language under the sun. As a result, we can keep producing well-diversified growth at low cost, resulting in low risk for the business.
Concretely, we can typically take our SaaS offering to a new market in the matter of a few weeks, which we do on a regular basis - in 2020 we launched in about half a dozen new markets simultaneously.
Acquisitions of high-calibre companies
We have repeatedly added to growth and the acceleration of our business with acquisitions and we think this is a great way for us to develop our products and services, our customer base, our business model and our financial success.We see a multitude of exciting M&A opportunities in the healthcare technology space and we are perfectly placed to capture them with a strong capital base, great in-house execution firepower and fantastic service providers.Our first acquisitions - our previous competitor Physiotools and a number of leading virtual-first Wellness providers - were executed with discipline, speed and determination that added over €3 million in revenue, sustained organic growth and the release of very significant synergies in a short period of time.
The company is founded by Henrik Molin and Nathan Skwortsow.The idea for Physitrack came about in late 2011, when a relative of Henrik was given a paper home exercise handout after a knee operation and suggested there should be an app for it.
First version in English and Dutch with 180 exercises launched at year-end.
First SMB customers in the Netherlands following endorsement agreement with a large insurer, first Enterprise customer signed. Launch in Australia and the UK.
Launch in the US and Canada. Accepted into the Apple Mobility Partner program, with Apple's designers re-defining UIUX. Launch of Apple re-designed solution.
Launch of Physitrack Telehealth and PhysiData.
Launch of Physitrack AI.
UK government innovation grant won for Physitrack Telehealth.
First major US hospital system sale.
173 percent annual growth. Launch of M&A program, acquisition of major competitor Physiotools OY.
153% annual growth. Nasdaq First North Premier IPO. Continued M&A activity, acquisition of Rehabplus and Fysiotest and expansion into Virtual care.
Continued M&A activity, acquisition of PT Courses to offer continuing education for US physio and occupational therapists, acquisition of Wellnow (Germany) to expand European Virtual care footprint, acquisition of Champion Health (UK).
Founders & management team
Environment, sustainability and governance
At Physitrack, our mission is to improve wellbeing worldwide. We prioritize:
- Innovation and education: Advancing healthcare access through digital solutions, clinical expertise, and behavioral change.
- Data and privacy protection: Ensuring the highest security standards for our customers' and patients' data.
- Team: Fostering a happy and inclusive team with diverse backgrounds. We priortise our wellbeing, with all team members having access to the Champion Health platform.
- Carbon emissions: Reducing carbon emissions in healthcare by providing virtual solutions and practicing responsible business activities.
The use of Physitrack and Physiotools helps Physiotherapists enhance patient care. Clinical studies using Physitrack show that digital exercise apps improve adherence to treatment.
Physitrack offers streamlined patient engagement and remote on-demand care through its SaaS and Virtual care offering. This increases flexibility and reduces preparation time between patients, as all relevant patient information is available on demand. By improving patient treatment, more time can be dedicated to care rather than administration.
🌲 Physitack’s digital health products increase access to healthcare for those without transport and in remote locations. In the USA, about 57  million people live in rural areas, 20 percent of the population do not have access to healthcare and around 9% of the population do not have access to a vehicle . Through its SaaS offering and Virtual care offering, Physitrack enables remote treatment, and through increased effectiveness, reduces overall cost of healthcare. Furthermore, avoided journeys helps to prevent harmful emissions.
The Champion Health Workplace Health report 2023 identified that almost 1 in 10 professionalsare experiencing thoughts of suicide or self-harm. Through our wellness division we equip employers to improve the wellbeing of their employees. Champion Health offers free access to three friends and family members of each paid user – extending this reach further.
All Physitrack team members are provided access to the Champion Health offer. Our team use it to monitor their own wellbeing.
Physitrack’s impact on sustainability ‒ customer stories
- Strata and Champion Health: see our case study here.
- Royal Flying Doctors: The Royal Flying Doctor Service is a large aeromedical organization in Australia, offering primary healthcare and emergency services across a vast area. Physitrack supports patients in rural Tasmania with tools for self-care between visits. Additionally, Physitrack's Telehealth feature helps the Royal Flying Doctor organization reach people in remote areas.
- INTERVAL-GAP4 study funded by Movember charity: The INTERVAL-GAP4 study was a global, multi-center trial that lasted 24 months and focused on metastatic castrate-resistant prostate cancer (mCRPC). The Physitrack platform was selected to deliver exercise programs globally and facilitate remote real-time collection and analysis of outcomes data by researchers.
- Veerkracht / Pink Ribbon: Veerkracht is an active tailor-made program for women suffering from breast cancer. Physitrack delivered the technology needed for the exercise programs and the outcomes analysis, circulated to the participants in the study.
- Handicap International / Haiti: Physitrack provided Telehealth technology to physiotherapists in Haiti. The technology is used to provide expert care from global specialists.
Physitrack’s alignment with wider sustainability goals
The Sustainable Development Goals (SDGs), also known as the Global Goals, are 17 goals adopted by all UN Member States in 2015 to end poverty, protect the planet, and ensure peace and prosperity by 2030. Physitrack actively contributes to five of those goals:
- Good Health and Well-being: Enabling more effective care is at the heart of Physitrack's business model and the company actively contributes to good health and well-being.
- Industry, Innovation and Infrastructure: Physitrack's SaaS and Virtual care offerings are healthcare digitalisation innovations that contribute to universal access to information and communications technology (Target 9.C).
- Sustainable Cities and Communities: Physitrack helps achieve Target 11.6: "Reduce cities' environmental impact". With remote care, there is less travel to and from crowded areas. Home exercises also reduce the need for extra clinical office space.
- Responsible Consumption and Production: Through remote care, Physitrack contributes to the reduced need for office space, clinical equipment and administrative materials.
- Climate Action: Healthcare is a major source of global carbon dioxide emissions, accounting for 4 percent of global emissions in the largest economies. Physitrack reduces travel through remote care, helping to lower emissions. Additionally, Physitrack can provide care in regions impacted by climate change, as demonstrated by its use in Haiti.
 Statista: Size of the urban and rural population of the United States from 1960 to 2020
 Valuepenguin: Car Ownership Statistics
 Digital Optometrics: Interesting Telemedicine Statistics
 Physitrack: Royal Flying Doctors nominated for Business Excellence Awards with Physitrack
 Physitrack: Global RCT appoints Physitrack as technology partner
 OncoNet: Een actief programma op maat voor vrouwen met borstkanker
 Company Information
 United Nations Development Programme: What are the Sustainable Development Goals?
 The Global Goals' website
 CarbonBrief: Healthcare in the world's largest economies' accounts for 4% of global emissions
Our people are the heart of Physitrack. Our employee proposition is as follows:
- Fully remote and flexible working;
- Your wellbeing is our priority - you will have access to our Champion Health Platform;
- Make a difference. Work somewhere you can elevate the world’s wellbeing; and
- Entrepreneurial and inclusive culture. We work as one team to get things done.
As per our values, we are data led, and actively measure our employee KPIs:
As a virtual business, we prioritize inclusivity. We use tools like Slack, surveys, and meetings to communicate effectively. Our resources are available to everyone on Notion and meetings are recorded to avoid any unwritten rules that could hinder inclusivity and diversity. We invest in leadership development and have a leadership and management code to guide our leaders' behavior. Transparency and trust are our guiding principles. We hire talented individuals, provide clear objectives, and trust them to deliver.
Diversity and inclusion is part of who we are
At Physitrack, we are all different. We believe that is our greatest strength. We draw on the differences in who we are, where we live, what we have experienced and how we think. Those experiences allow us to build solutions that serve everyone. Given our differences, we are always conscious of, and work to maintain, an inclusive culture. We believe our inclusivity brings us together as ‘one team’.
We are committed to creating and managing an environment of inclusion, and one that always strives to be inclusive of people of all genders, sexuality, colours, cultures and religions.
🌍 Transforming access to rehabilitation through Project Inclusion
Did you know that in Europe there are on average 13 Physiotherapists for every 10,000 people, while in Asia it is only 1 Physiotherapist per 10,000 people on average?
Project Inclusion aims to overcome this challenge by ensuring that everyone can get the help they need through the power of digital health innovation. Physitrack, along with Business Finland and partners, is actively developing digital tools to make rehabilitation services more accessible in Rwanda and Indonesia.
Our initial experiences indicate that, thanks to digital tools, one physiotherapist can now assist up to 40 times more end-users than before.
This transformation wouldn't be possible without our technology and the invaluable contribution of community health workers, who play a significant role in healthcare in both pilot countries.
Watch more about Project Inclusion.
This initiative also represents a fresh business opportunity, opening up new market places for Physitrack. Project Inclusion' is a co-innovation project in collaboration with Jyväskylä University of Applied Sciences, JAMK.
🎥 Our content library
Physitrack is continuously adding new content to its exercise library and updating existing videos. We do this by filming new exercise videos together with on-set guidance of both internal and external experts from all over the world.
With our content, we aim to achieve a library that is providing both clinically accurate exercise videos and at the same time representing global clinical practices with a diverse set of onscreen coaches.
Our M&A program has executed multiple successful transactions to date.
The key components of our transaction methodology are:
- Identification of value-driving acquisitions of profitable companies of relevant size.
- Efficient and cost effective deal structuring, due diligence and transaction completion with an optimal combination of in-house and external resources.
- Rapid and effective identification and realisation of synergies in technology, customer base and financial dynamics.
We continuously look for potential acquisitions that can:
- Grow our customer base
- Enhance our technology
- Enhance our product offering
If you think that your company is a good fit with the Physitrack group - please get in touch with the team at firstname.lastname@example.org.