Local telehealth start-up Doctor Anywhere announced today (November 11) that it has acquired Thailand’s largest telemedicine platform, Doctor Raksa, for an undisclosed amount.
This acquisition follows its recent S $ 88 million (US $ 65.7 million) Series C round of funding in August 2021, which is considered one of the largest private rounds raised by a company. of health technology in Southeast Asia.
The deal will advance the company’s mission to become Southeast Asia’s premier technology-based omnichannel healthcare provider. Doctor Anywhere currently has 1.5 million active users in the region and expects the deal to help add a million more customers to its overall user base.
Besides Singapore, Doctor Anywhere is also present in Malaysia, Thailand, Vietnam and the Philippines. In particular, Thailand is its largest user pool after Singapore.
The merged entity has a combined global network of more than 1,000 healthcare professionals and partners in diverse specializations including pediatrics, cardiology, urology, gynecology, orthopedics and more.
Doctor Anywhere Expects Thai Revenue To Increase More Than 5X
Following the acquisition, Doctor Anywhere will become the largest telemedicine platform in Thailand and the company expects its Thai revenues to grow more than fivefold over the next two years.
“Doctor Raksa is an established brand in Thailand, and the acquisition is a strategic decision of Doctor Anywhere as it will allow us to combine our forces to meet the growing demand for telehealth in Thailand,” said Lim Wai Mun, Founder and CEO by Doctor Partout.
“For telehealth to maintain its momentum beyond the pandemic, it is essential to establish a strong ecosystem where payers, providers and patients can seamlessly adopt the service. We are confident that this acquisition will allow us to strengthen our existing infrastructure and pave the way for a new future of telehealth in the country. “
Created in 2016, Doctor Raksa currently has more than one million users. Its key offerings include online physician consultations, electronic prescriptions, electronic medical summaries, pharmacist consultations and prescription refills.
“Doctor Anywhere’s regional exposure will bring immediate scale, strong B2B relationships and technological capabilities to Doctor Raksa. This will help us deliver an even better product offering to our patients, physicians and employees, ”said Jaren Siew, CEO of Doctor Raksa.
Ultimately, the acquisition will support Doctor Anywhere’s growth trajectory and strengthen the group’s regional strategy aimed at enabling healthcare without borders.
The respective telehealth offerings of Doctor Raksa and Doctor Anywhere will retain their existing core functions, while leveraging key resources and expertise to develop new product features for users.
In an effort to make telemedicine accessible to a wider audience in Thailand, Doctor Anywhere’s drug delivery services will expand to 38 provinces by the end of the first quarter of 2022.
Featured Image Credit: KRAsia
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