May 2026
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Largest EHR & Practice Management Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Software Service, EM Systems Co., CE Holdings, Eucalia and Kanamic Network.
 | Software Service Inc installs, develops and sells Electric Medical Record System, Hospital Total Ordering System, and nursing support system. The product line includes - Anesthesia recording system, Dialysis management system, Infection control system, Bacterial test system, Personnel payroll system, Visiting system for nursing, In-home medical care, Office-based care system, Hospital entrance care system, among others. | $65 | -22% | $320M | $211M | 0.8x | 3.6x | ||
| EM Systems Co Ltd is a Japan-based company. Along with its subsidiaries, the firm is engaged in the development, sales, and maintenance of computer software for medical business. It operates its business in three divisions Dispensing system business develops and sells systems for pharmacies. Medical system business develops and sells medical office processing computer system for medical institutions, mainly clinics, and provides supplementary supply and maintenance service. Other business division develops, sell and maintain maintenance service for medical care nursing collaboration solutions and systems for nursing care service providers. | $3 | -32% | $213M | $173M | 1.1x | 5.3x | ||
| CE Holdings Co Ltd is a Japan-based company engages in the development and sale of medical information systems focused on electronic medical record systems. It provides packaged software, medical information and accounting systems, electronic health record systems, and blood transfusion systems. | $11 | +157% | $179M | $147M | 1.4x | 8.2x | ||
| Eucalia Inc is engaged in total medical management support, Operation of nursing care homes & Total support business for senior life, medical equipment business, etc. | $4 | -31% | $149M | $273M | 1.7x | 9.5x | ||
| Kanamic Network Co Ltd provides platforms and management systems for the health care industry. The firm develops software to support medical care and nursing care business management. It offers cloud services for construction of information sharing platform in the medical and nursing care field to local government staff, doctors, nurses, care managers; system integration and system solution business; Website production/management work; and planning, production, and sale of Web content and video, and various sales promotion tools. In addition, it offers management and system consulting services, and education and training services; and engages in planning and holding lectures, seminars, academic conferences. | $3 | +15% | $147M | $128M | 3.6x | 9.8x | ||
| Findex Inc is engaged in the operation of the system development business and health tech business. | $5 | +8% | $121M | $112M | 2.9x | 8.2x | ||
| SOFTMAX Co Ltd provides optimal solutions for customers based on their developed PlusUs series such as Web type electronic charts and medical accounting. It offers Web-type electronic medical record and ordering systems, health checkup systems, radiology department information systems, rehabilitation department systems, surgical department systems, hospital goods management systems, and nursing care management systems. Geographically it operates through the region of Japan. | $2 | +26% | $45M | $45M | 1.0x | 8.5x | ||
| Median | $4 | +8% | $149M | $147M | 1.4x | 8.2x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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