Physitrack has launched its own electronic medical record (EMR [sv. elektronisk patientjournal]) for US physical therapy clinics — an AI tool that writes the clinical notes during the consultation and turns them straight into a treatment plan. Until now Physitrack sold add-on software that clinics used next to their EMR. Now Physitrack can be the EMR itself, and that's a bigger prize: it opens a $1.4–1.6bn market (growing to $2.5–3.4bn) versus the narrower add-on niche Physitrack served before. Redeye's take: this is a clearly positive strategic move — it deepens the moat and raises the revenue ceiling per clinic, with no 2026 revenue impact since paid subscriptions only start January 2027. We leave our valuation unchanged for now, but see this as a genuine upside lever for 2027 and beyond, and we like the direction management is taking the business.
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