Stronghold health12/21/2023 ![]() Physitrack expects to return to its communicated EBITDA margin target of 40-45% within 4 years.Ĭhampion is acquired through the legal entity Champion Health Ltd, which is registered in the United Kingdom and the deal is financed with cash. Champion is also expected to boost growth across Physitrack's existing business lines in the medium term.Ĭhampion will benefit from accelerated growth and cost synergies in leveraging Physitrack's global network of customers, health practitioners, additional developers, sales and support staff. On a standalone basis, Champion is expected to execute growth at significantly above the Physitrack's communicated organic sales growth target of exceeding 30% annual growth in the medium-long term. In the twelve months ending December 31, 2021, Champion delivered revenue of €0.1m. Initial one-off acquisition and integration costs are estimated to reach around EUR 0.3 million over six months. At 31 December 2021, Champion's gross assets were EUR 0.3 million. Physitrack looks forward to bringing into the Group the talented and experienced management team of Champion, including co-founders Harry Bliss and Ricky Bailey, their team of wellbeing and tech experts, as well as their network of skilled contributors and certified health practitioners who generate technical and inspirational content for users.Ĭhampion exited April 2022 with a revenue run rate of €0.4m and EBITDA margins of roughly 30%, with over 95% of revenue being subscription based. There is a strong cultural fit between the companies. Through the acquisition of Champion, Physitrack adds new growth avenues with substantial revenue potential, adds and diversifies revenue streams, fast tracks the transformation of Care revenue streams to SaaS, and accelerates its expansion in the UK, the Nordics, Germany and the US.Ĭhampion's successful wellbeing platform and innovative technology will continue to be accessible as a standalone product and will over time see the integration of Physitrack's Access ecosystem that connects employees and patients to biometric testing capabilities, wellness coaching and care provision. The global digital health market is projected to be a USD 222 billion market by 2026. The acquisition of Champion is a financially accretive deal that allows Physitrack to enhance its holistic wellbeing and virtual-first care offerings, while also establishing a strong foothold for Physitrack in the corporate wellness market. Champion will continue to benefit from the resources and integration opportunities available to it from the broader Physitrack group in the coming years, especially the ability to partner with Physitrack's care and wellness companies on the integrated Access product."Įxpanding Physitrack's corporate wellbeing offering Ricky Bailey, CDO and co-founder of Champion Health, comments: "Joining forces with Physitrack enables Champion to have immediate distribution in a multitude of geographies where Physitrack is already present with its range of products, as well as to accelerate outreach and localisation globally.
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