Doctor Anywhere acquires Asian Healthcare Specialists, raises another US$38.8M funding

Homegrown healthtech startup Doctor Anywhere announced today (December 21) that it has acquired Catalist-listed Asian Healthcare Specialists, an integrated healthcare provider in Singapore.

Asian Healthcare Specialists is a group of 14 medical specialists, with a patient-first approach and vision to make specialised care accessible to all.

Its 12 specialist clinics across multidisciplinary specialities comprise orthopaedics, ophthalmology, dermatology, urology, gastroenterology, otorhinolaryngology, anaesthesia, family medicine and rehabilitation — all areas that complement Doctor Anywhere’s regional healthcare services.

According to Doctor Anywhere, this acquisition is a strategic step to further its long-term growth ambitions, enabling it to deliver more holistic healthcare and meet the rising demand for complex, specialised treatment across Southeast Asia.

“Our goal at Doctor Anywhere is to build a digital healthcare ecosystem to enable better patient outcomes and help shape the future of healthcare in Southeast Asia. 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,” said Lim Wai Mun, founder and CEO of Doctor Anywhere.

“We continue to be on the lookout for synergistic opportunities and targeted acquisitions of critical healthcare assets across the region, which will enable us to further the work we have begun on building a regional healthcare ecosystem that leverages technology and innovation. A more diversified and holistic range of integrated healthcare service offerings will enable Doctor Anywhere to deliver greater value and impact to elevate the region’s healthcare outcomes.

Securing additional funding

In addition, Doctor Anywhere also announced a US$38.8 million Series C1 financing round, led by Novo Holdings, a leading international life science investor. Other existing shareholders also participated in the round, including Asia Partners, Kamet Capital, Square Peg, IHH Healthcare, EDBI and OSK-SBI Venture Partners.

The funding will be used to accelerate growth and to partly fund the acquisition of Asian Healthcare Specialists, and brings the total capital raised by Doctor Anywhere to nearly US$140 million.

This latest funding comes just over a year after the company raised a US$65.7 million Series C in August 2021, which is one of the largest private funding rounds ever raised by a healthtech company in Southeast Asia.

“Doctor Anywhere has shown an exceptional track record since its inception, and today, it has firmly established itself as a regional leader in healthcare, successfully integrating seamless online and offline approaches to bring easily accessible and affordable healthcare to millions across Southeast Asia,” said Dr Amit Kakar, Senior Partner, Head of Novo Holdings Equity Asia.

“We are confident in Doctor Anywhere’s growth as it builds a regional ecosystem to bring delivery of patient care to the next level, in line with its vision to become the leading tech-enabled omnichannel healthcare provider in Southeast Asia,” he added.

Featured Image Credit: Doctor Anywhere