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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.

The first version of Physitrack was released in English and Dutch, including 180 exercises, establishing the foundation of its digital platform.

The company signed its first SMB customers in the Netherlands, supported by an endorsement from a leading insurer, and secured its first enterprise client. International expansion began with launches in Australia and the United Kingdom.

Physitrack entered the US and Canadian markets. The company was selected for the Apple Mobility Partner Program, where Apple’s designers redefined the user experience. The redesigned solution was launched later that year.

Physitrack introduced Telehealth and PhysiData, expanding beyond exercise prescription into broader digital healthcare services.

The launch of Physitrack AI reinforced the company’s commitment to innovation and differentiated its platform in a competitive market.

The UK government awarded Physitrack an innovation grant for its Telehealth solution, providing external validation of its technology.

Physitrack signed its first major US hospital system, an important step in scaling within one of the largest healthcare markets in the world.

Annual growth reached 173 percent. Physitrack launched its M&A program and completed its first acquisition, acquiring major competitor Physiotools OY to strengthen its market position.

The company delivered 153 percent annual growth and completed a successful IPO on Nasdaq First North Premier. Acquisitions of Rehabplus and Fysiotest further enhanced the Group’s capabilities, while expansion into Virtual Care broadened its service offering.

Physitrack continued executing its M&A strategy. The acquisition of PT Courses expanded into continuing education for US therapists, Wellnow strengthened the Virtual Care footprint in Germany, and Champion Health in the UK added a leading employee wellbeing platform.

Key leadership changes and team restructuring to support group growth at scale: new heads appointed for Growth Product and Engineering teams, co-founder and CTO / CPO Nathan Skwortsow departs early 2022, and acquired subsidiary leaders exit post acquisition earn-outs. A decentralised decision-making model with coaching emerges and reliance on external consultants decreases as in-house teams take over. A unified “one team, two product” philosophy is introduced to drive innovation and acceleration.

With AI embedded at the core of workflows and product innovation in the advent of a new era for software development, the group optimises team composition across all functions. This, coupled with successful Wellness division restructure, delivers substantial financial success and enables acceleration in both business lines at low risk.