Physitrack acquires digital workplace health platform Champion Health
London-based digital health company Physitrack has acquired Sheffield-headquartered Champion Health, a workplace health platform for £2.5 million upfront and a further potential aggregate earn-out consideration of up to £7,894,000 million over four years, subject to Champion achieving stretching growth and profitability targets in that period.
Henrik Molin, co-founder and chief executive of Physitrack, said: “Joining forces with Champion Health is a pivotal event for Physitrack, and we are beyond excited to share this news with the market. Champion Health has built some of the most innovative and dynamic technology for workplace wellbeing in the market, and it’s my firm belief that combining Champion with Physitrack’s holistic health and wellness product Access, is a true home run for us – technically and commercially. The acquisition of Champion will create a more comprehensive and attractive offering for Physitrack in the booming corporate wellness market, and it will accelerate our expansion in the UK, the Nordics, Germany and in the US.”
Harry Bliss, co-founder and chief executive of Champion Health, commented: “In 2018, I lost my friend and mentor to suicide, following a short bout of stress. From here, I made a personal vow to change the way health and wellbeing is delivered in workplaces, to make wellbeing more accessible, inclusive and engaging. Since then, we have rapidly established ourselves as a leading technology provider that can build happier, healthier and more productive organisations, at a global scale.
“Becoming part of the Physitrack family is the next step for us in achieving this mission, by joining forces with a fast-growing leader in healthcare SaaS aligned to our mission and vision. With a solid track record over a 10-year period, a public market listing and a multicultural, multi-geographic team, Physitrack is perfectly positioned to fulfil Champion’s vision and mission, and deliver on the vow I made to myself in 2018.”
Ricky Bailey, co-founder and chief data officer of Champion Health, said: “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. 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.”
Champion’s founder shareholders were represented in the transaction by Yorkshire solicitors firm Berwins.
Date published: May 9, 2022