Regional tech-led healthcare company, Doctor Anywhere (DA), announced today its acquisition of Doctor Raksa, Thailand’s largest telemedicine platform.
A Growth Milestone
The acquisition comes in the wake of the company’s recent Series C financing round, one of the largest private funding rounds raised by a health tech company in Southeast Asia at S$88 million (US$65.7 million). The deal will advance the company’s mission to become the most prominent tech-enabled omnichannel healthcare provider in the region.
Prior to the purchase, the active user numbers of the DA platform stood at 1.5 million in SEA. The deal will see further 1 million consumers added to the overall user base.
The Thailand Context
The merged entity is poised to deepen DA’s presence in Thailand, where the group will serve its largest user pool after Singapore. Set to propel DA to become the largest telemedicine platform in Thailand, the company’s Thai revenue is expected to grow by more than 5X in the next 2 years.
Boasting a combined overall network of more than 1,000 medical professionals and partners across diversified specialisations including paediatrics, cardiology, urology, gynaecology, orthopaedics and more, the acquisition unlocks synergies between the 2 platforms to deliver seamless and quality healthcare to more users and providers in the country.
“Doctor Raksa is an established brand in Thailand, and the acquisition is a strategic move by DA as it will enable us to combine our strengths to meet the growing demand for telehealth in Thailand. For telehealth to sustain momentum beyond the pandemic, it is critical to establish a robust ecosystem where payers, providers and patients can seamlessly adopt the service. We are confident that this acquisition will equip us to strengthen our existing infrastructure and pave the way forward for a new future of telehealth in the country,” said Lim Wai Mun, founder and CEO of Doctor Anywhere.
Established in 2016, Doctor Raksa has over 1 million users to date, leveraging proven telemedicine technologies to bring affordable and accessible healthcare to users. Its key offerings include online doctor consultations, electronic prescriptions, electronic medical summaries, pharmacist consultations and prescription refills. Under the acquisition, the respective telehealth offerings by Doctor Raksa and DA will retain their existing core functions, while harnessing key resources and know-how to develop new product features for users.
Jaren Siew, CEO of Doctor Raksa commented, “The regional exposure of Doctor Anywhere – the leading digital healthcare platform in Southeast Asia – will bring immediate scale, strong B2B relationships, and tech capabilities to Doctor Raksa. This will help us to provide an even better product offering for our patients, doctors and employees.”
In an effort to make telemedicine available to a wider audience within Thailand, DA’s medication delivery services will expand to 38 provinces by the end of Q1 2022. The acquisition will support DA’s growth trajectory and enhance the group’s regional strategy of enabling borderless healthcare.
Surangkhana (Nicky) Surapaitoon, General Manager of Doctor Anywhere Thailand said, “The acquisition of Doctor Raksa brings key learnings for us to localise our services to meet growing in-market needs and engage with our users, and the information exchange between two extremely capable teams will help us build an effective omnichannel telehealth model for the country. We are excited for what this acquisition will bring as we make healthcare available and accessible to people in Thailand anytime, anywhere.”
Doctor Anywhere is currently available in Singapore, Malaysia, Thailand, Vietnam, and the Philippines. The group also recently announced the establishment of regional tech hubs in India and Vietnam.
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