S’pore telehealth startup Doctor Anywhere acquires Doctor Raksa – Wired PR Lifestyle Story
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Home tele-health startup Doctor Anywhere announced today (November 11) that it has bought the largest telemedicine platform in Thailand in exchange for an unannounced amount.
This purchase comes in the wake of the latest C Series funding round, which had $ 88 million ($ 65.7 million) in August 2021, calling it one of the largest private funds raised by a health technology company in Southeast Asia.
The agreement will advance the company’s mission to become the largest technology-enabled omnichannel healthcare provider in Southeast Asia. Doctor Anywhere currently has 1.5 million active users in the region, and hopes the deal will help add another million customers to its overall user base.
In addition to Singapore, Doctor Anywhere also has a presence in Malaysia, Thailand, Vietnam and the Philippines. In particular, Thailand forms its largest user group after Singapore.
The merged entity has a combined general network of more than 1,000 medical professionals and partners in diverse specializations, including pediatrics, cardiology, urology, gynecology, orthopedics, and more.
Doctor Anywhere expects Thailand’s revenue to grow more than 5 times
Following the acquisition, Doctor Anywhere will become Thailand’s largest telemedicine platform and the company expects its Thai revenue to grow more than fivefold in the next two years.
“Doctor Raksa is a well-established Thai brand, and purchasing is a strategic move for Doctor Anywhere as it can combine our forces to meet the growing demand for teleosity in Thailand,” said Lim Wai Mun, founder and CEO of Lim Wai Mun. Edonon.
“In order to keep the teleosity momentum beyond the pandemic, it is essential to establish a strong ecosystem where payers, providers and patients can take full advantage of the service. We are confident that this acquisition will strengthen our existing infrastructure and pave the way for a new teleosity future.”
Founded in 2016, Doctor Raksa has more than a million users to date. Its key offerings are online medical consultations, electronic prescriptions, electronic medical summaries, pharmacist consultations and prescription filling.
“Doctor Anywhere’s regional exposure will bring immediate scale, strong B2B relationships and technological capabilities to Doctor Rakssa. This will help us provide an even better product offering for our patients, physicians and staff,” said Jaren Siew, CEO of Doctor Raksa.
Ultimately, the acquisition will help Doctor Anywhere’s growth trajectory and improve the group’s regional strategy to enable unlimited health care.
Doctor Raksa and Doctor Anywhere’s telehealth offerings will retain their existing core functions while at the same time leveraging key resources and knowledge to develop new product features for users.
In an effort to make telemedicine available to a wider Thai public, Doctor Anywhere’s drug delivery services will be expanded to 38 provinces by the end of the first quarter of 2022.
Notable Image Credit: KRAsia
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