Singapore-based digital health platform Doctor Anywhere has acquired Doctor Raksa, the largest telemedicine platform in Thailand, for an undisclosed amount.
Launched in 2016, Doctor Raksa serves over a million users with offerings such as online doctor and pharmacist consultations, electronic medical summaries, e-prescriptions and prescription refills.
WHY IT IS IMPORTANT
DA continues its expansion in Southeast Asia as a technology-enabled omnichannel healthcare provider. It is currently present in Singapore, Malaysia, Thailand, Vietnam and the Philippines, as well as regional technology centers in India and Vietnam.
The acquisition makes Thailand its second largest market after Singapore and increases the number of its active platform users in the region to over 2 million. Together they have a network of more than 1,000 medical professionals and partners from various fields.
Meanwhile, DA said it will expand its drug delivery service to 38 provinces in Thailand by the end of the first quarter of 2022.
THE BIGGER TREND
The acquisition came after the company raised SGD 88 million ($ 65.7 million) in a Series C financing round in August. With the proceeds, the position in existing markets should be “further deepened” and expanded into new ones.
In September, DA has teamed up with the Equicom Group conglomerate to launch a telemedicine platform in the Philippines. The joint venture will offer, among other things, virtual doctor consultations via the Doctor Anywhere app and free delivery of medicines within Metro Manila. Some of the services were rolled out to Equicom employees earlier this year.
ON THE RECORD
“Doctor Raksa is an established brand in Thailand and the acquisition is a strategic move by DA as it allows us to combine our strengths to meet the growing demand for telemedicine in Thailand … We are confident that this acquisition will enable us to strengthen our existing infrastructure and pave the way for a new future of telemedicine in the country, “said DA Founder and CEO Lim Wai Mun.
“Doctor Anywhere’s regional presence will bring Doctor Raksa instant size, strong B2B relationships and technical capabilities. This will help us to offer our patients, doctors and employees an even better range of products, ”commented Jaren Siew, CEO of Doctor Raksa