Singapore-headquartered digital health platform Doctor Anywhere has acquired Doctor Raksa, the biggest telemedicine platform in Thailand, for an undisclosed amount.
Launched in 2016, Doctor Raksa serves over a million users with offerings including online doctor and pharmacist consultations, electronic medical summaries, e-prescriptions and prescription refills.
WHY IT MATTERS
DA is continuing its Southeast Asia expansion as a technology-enabled omnichannel healthcare provider. It is currently present in Singapore, Malaysia, Thailand, Vietnam and the Philippines and in regional tech hubs in India and Vietnam.
The acquisition makes Thailand its second-biggest market after Singapore and brings the number of its active platform users in the region to over 2 million. Together, they will have a network of more than 1,000 medical professionals and partners across specialisations.
Meanwhile, DA said it will expand its medication delivery service to 38 provinces in Thailand by the end of the first quarter of 2022.
THE LARGER TREND
The acquisition came after the company netted SG$88 million ($65.7 million) in a Series C funding round in August. The proceeds were intended to “further deepen” its hold in existing markets and expand in new ones.
In September, DA partnered with conglomerate Equicom Group to launch a telemedicine platform in the Philippines. The joint venture, it was said, will provide virtual doctor consultations via the Doctor Anywhere app and free medications delivery within Metro Manila, among other offerings. Some of the services have been extended to Equicom’s employees early this year.
ON THE RECORD
“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… 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 DA founder and CEO Lim Wai Mun.
“The regional exposure of Doctor Anywhere 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,” Doctor Raksa CEO Jaren Siew also commented