Singaporean telehealth company Doctor Anywhere has fully acquired Catalist-listed Asia Healthcare Specialists, a multidisciplinary medical care group.
The latter offers a wide range of specialist services, including anaesthesia, dermatology, family medicine, gastroenterology, ophthalmology, orthopaedics, otorhinolaryngology, rehabilitation and urology, across 12 clinics in Singapore.
Its 14 medical specialists, one family physician and one physiotherapist will be absorbed into DA’s growing network of 3,000 GP and specialist doctors.
WHY IT MATTERS
According to DA, its latest acquisition is part of its endeavour to meet the rising demand for specialised treatment across Southeast Asia. It will continue to seek synergistic opportunities and targeted acquisitions of critical healthcare assets across the region to further its work on building a technology-enabled regional healthcare ecosystem.
This announcement also comes as the startup closed a $38.8 million Series C1 funding round led by Novo Holdings. The proceeds from this extended investing round partly funded the acquisition of Asian Healthcare Specialists.
THE LARGER TREND
The acquisition of Asia Healthcare Specialists came after DA bought Doctor Raksa, Thailand’s biggest telemedicine platform, over a year ago.
Meanwhile, with its latest funds, DA has raised nearly $140 million in total capital investment since its inception. It last scored $66 million in a Series C round led by Asia Partners.
ON THE RECORD
“With consumers across the region seeking higher quality and more personalised care, the acquisition of Asian Healthcare Specialists strengthens our capabilities beyond our successful primary care services, enabling us to deliver more integrated, holistic care and greater value for our users,” DA CEO and founder Lim Wai Mun said.
“We are excited to join Southeast Asia’s largest omnichannel healthcare provider and bring our well-established specialist care expertise to the group. We look forward to working together to bridge the gap between primary and specialised care to provide seamless, holistic care that transcends boundaries and statuses,” Asian Healthcare Specialists CEO Dr Chin Pak Lin also commented.
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