Berlin-based health tech startup expands into the USA after just 1 year
Berlin, September 6, 2022 - Berlin-based health tech startup Exakt Health, which develops digital rehab plans for sports injuries, is now launching its app in the U.S. App Store as well as the Google Play Store after just its first year in its home market. The entry into the U.S., the world's largest healthcare market, represents an important step toward scaling after strong growth in Germany, France, Spain and the UK in recent months.
"Our mission is to provide high-quality, digital physical therapy worldwide so that every athlete can treat their injuries from anywhere and in a timely manner," said Lucia Payo, CTO and co-founder of Exakt Health. "Especially in the U.S., we observe that patient:ins face many hurdles and long wait times for expert physical therapy despite acute injuries."
Approved as a medical device in the EU, the app is regulated by the U.S. Food and Drug Administration (FDA) in the United States. The app currently offers 10 rehabilitation plans for sports injuries, which are treated using customized daily exercises. For a few weeks, the app now also includes a comprehensive training plan for targeted injury prevention for runners.
Huge market potential for sports physical therapy from Exakt Health
Musculoskeletal complaints are the largest cost driver in the U.S. healthcare system. One in two Americans suffer from musculoskeletal pain. These ailments account for nearly 15% of all health care system costs and $600 billion in the U.S. economy.
Sports physical therapy makes up an attractive portion of this market. "The market potential is enormous with over 50 million runners and an injury rate of nearly 20% per year," says Philip Billaudelle, CEO and co-founder of Exakt Health. "The market conditions we found here are excellent: due to poor government healthcare and long waiting times for therapies, as well as the high telehealth affinity of Americans, we expect a steep growth curve."
Ambitious growth plans
Since its launch, the app has already recorded over 20,000 active users for rehab plans across the EEA. With its current expansion into the U.S., the Berlin-based startup expects to see even stronger growth in Q4. In addition, the first paid rehab plans will be launched in the app in the coming quarter.
Exakt Health app in the US
Exakt Health Team
About Exakt Health
Exakt Health, the sports physical therapy app, was founded in January 2021 by former N26 employees Philip Billlaudelle and Lucia Payo. The app simplifies access to professional and customized physical therapy. Exakt Health offers customized training plans for patients to treat their sports injuries and is available for iOS and Android across Europe and the UK. The Berlin-based startup has raised $2 million so far and is backed by BackBone Ventures, Auxxo Female Catalyst Fund, Possible Ventures, Maximilian Tayenthal (founder N26), Gloria Bauerlein (former Head of Strategy Kry), Cornelia Hoppe (Done! Berlin), Lina Behrens (MD Flying Health), Kelly Ford (former Marketing Director Paypal DACH), Gemma Bloemen (Principal Creandum), Michelle Capiod (co-founder Blume Equity).
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