LONDON--(BUSINESS WIRE)--Digital Health provider Physitrack, one of Apple’s first Mobility Partners, today announces that following the strong growth of its user base to over 1.2 million patients coupled with strong revenue and EBITDA development, Physitrack will seek to publicly list the company on Nasdaq First North in 2018 to fund further expansion into new geographical areas while also accelerating its R&D effort.
CEO and co-founder Henrik Molin comments:
“The success of Physitrack in terms of revenue generation and profitability in what has widely proven to be a challenging climate for profit-seeking Digital Health companies is a clear indicator that our formula for product / market fit is ready to be taken to more markets and at a higher pace than can be achieved with our predominantly client revenue-funded efforts.
“We identified at an early stage of the company’s life the superiority of an IPO versus traditional venture funding for the development of Physitrack’s brand and customer base and we are very excited to be at a stage where a public listing on an entrepreneur-friendly exchange such as Nasdaq First North is now very much a realistic possibility.”
Physitrack is collaborating closely with key service providers such as Capita Plc with legal, compliance, accounting and corporate governance connected to the IPO and is in the process of appointing Certified Advisors for the transaction.
Continues Henrik Molin:
“Thanks to strong investor relationships, we foresee significant interest in Physitrack shares from both institutions and high net worth individuals, and we also think that the mass affluent investor segment will take to the investment message of a uniquely profitable, stable and fast growing business like Physitrack, that operates in a space that a very large amount of people gets in touch with via their healthcare providers.”
Physitrack is a Digital Health solutions provider that has been an Apple Mobility Partner (NASDAQ: AAPL) since 2015. Physitrack’s patient engagement solution is used by over 1.2 million patients in 102 countries, including by 50% of Australia’s physical therapists, and uniquely combines clinical home exercise prescription, education and outcomes reporting with the World’s first Telehealth solution for Orthopaedic and Neurological Therapy techniques.