Kry's Asset-Light Telehealth Model

This is Kry saying the scarce asset is not the clinic, it is the care pathway that keeps the patient, the data, and the follow up inside one system. In France, that means letting partners handle the physical step, like blood draws or site based visits, while Kry keeps the app, triage, doctor interaction, and the clinical decision once results come back. That is a much cheaper way to expand than building and staffing every location itself.

• Kry already runs this model in Sweden at scale. It has 600 partner locations for blood samples that it does not operate, but the test data flows back into Kry so its clinicians can review results and decide the next step. The partnership is physical infrastructure rented as a workflow, not owned as a business line.
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• The reason this matters more in France is economics and regulation. France is still largely fee for service for Kry, while Sweden has more capitated primary care revenue tied to clinics. Owning clinics makes more sense where the payment model rewards managing an enrolled population over time.
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• Kry has used asset light physical partnerships before. In the UK it worked with Boots, where patients could use basic diagnostic tools in store and connect to Kry through dedicated terminals. In France it has also partnered with ELSAN for clinic expansion. The pattern is to plug into existing physical networks instead of recreating them.
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The likely end state is that telehealth leaders own the software layer, the patient relationship, and the clinical orchestration, while labs, pharmacies, and clinics become interchangeable service nodes underneath. If Kry keeps stitching those nodes together cleanly, it can enter more markets with less capital and still behave like a full stack care provider.