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Physitrack, An Apple Mobility Partner, Plans IPO In 2018 - Quick Facts

Digital Health provider Physitrack, one of Apple's first Mobility Partners, announced Friday that it will seek to publicly list the company on Nasdaq First North in 2018.

With the IPO, the company plans to fund further expansion into new geographical areas while also accelerating its R&D effort.

The IPO plans are based on the company's strong growth of its user base to over 1.2 million patients coupled with strong revenue and EBITDA development.

CEO and co-founder Henrik Molin said, "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."

Physitrack said it 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.

Molin added, "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 a Digital Health solutions provider that has been an Apple Mobility Partner (AAPL) since 2015. Physitrack's patient engagement solution is used by over 1.2 million patients in 102 countries.

by RTT Staff Writer

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