Doctor Anywhere Secures $88M SGD Funding - Southeast Asia Expansion

Doctor Anywhere Secures $65.7 Million USD in Series C Funding

Doctor Anywhere, a healthcare startup employing an “omnichannel” strategy, has announced the successful completion of a $88 million SGD (approximately $65.7 million USD) Series C funding round.

Asia Partners spearheaded the investment, with significant contributions from Novo Holdings, Philips, and OSK-SBI Partners. Existing investors, including EDBI, Square Peg, IHH Healthcare, Kamet Capital, and Pavilion Capital, also participated.

Board Appointments

Following this funding, Oliver Rippel, co-founder of Asia Partners, and Dr. Amit Kakar, senior partner at Novo Holdings Equity Asia, will be joining Doctor Anywhere’s board of directors.

This Series C round represents one of the largest private funding injections received by a health tech company in Southeast Asia, bringing the company’s total funding to over $140 million SGD.

Omnichannel Healthcare Approach

Doctor Anywhere distinguishes itself through its comprehensive omnichannel approach to healthcare.

This encompasses not only virtual consultations but also physical clinics, in-home medical visits, medication delivery services, and an integrated in-app marketplace offering health and wellness products.

Company Growth and Expansion

Established in 2017 by Lim Wai Mun, Doctor Anywhere currently serves a user base exceeding 1.5 million individuals.

The platform is presently accessible in Singapore, Malaysia, Thailand, Vietnam, and the Philippines, with recent technological development centers established in Bangalore and Ho Chi Minh City.

Origins and Evolution

Lim Wai Mun shared that, upon initiating Doctor Anywhere, established telemedicine platforms were already thriving in the United States, the United Kingdom, and China.

However, the concept was still in its early stages within Southeast Asia. Having previously worked as an investor, Lim launched Doctor Anywhere as a secondary project after recognizing the difficulties faced by elderly individuals in accessing medical care due to mobility limitations.

From Telehealth to Comprehensive Care

Initially launched as a purely online telehealth service, Doctor Anywhere quickly recognized the importance of a physical presence in establishing user trust.

Consequently, the company expanded its services to include home care and the operation of physical clinics.

Impact of the COVID-19 Pandemic

Doctor Anywhere estimates that the COVID-19 pandemic accelerated the adoption of telehealth services in Southeast Asia by at least five years.

The company experienced a surge in demand for online consultations, medication deliveries, and purchases through its marketplace.

Network Expansion

“Over the past year, we have more than doubled the size of our provider network, growing from approximately 1,000 professionals at the beginning of 2020 to nearly 2,500 medical professionals throughout Southeast Asia,” stated Lim.

Responding to the Pandemic

In direct response to the pandemic, Doctor Anywhere introduced an online COVID-19 Medical Advisory Clinic, providing immediate consultations for individuals exhibiting potential symptoms.

Furthermore, an online mental wellness module, staffed by psychologists, was created to address the growing need for mental health support, including services for conditions like insomnia and anxiety.

Competitive Landscape

Other telehealth companies operating in the region include WhiteCoat, Speedoc, and Doctor World.

Doctor Anywhere aims to differentiate itself by rapidly deploying new products based on user feedback and by “cultivating a balance between technological innovation and personalized human interaction.”

Future Plans

The newly acquired funding will be allocated to strengthening Doctor Anywhere’s position in existing markets and facilitating expansion into new territories.

The company also intends to enhance its technological infrastructure and big data capabilities to improve the user experience across both online and offline channels.

Plans include the introduction of new medical specialty modules, faster medication delivery times, and the development of customized healthcare plans.