Singapore-based telehealth company Doctor Anywhere (DA) is acquiring telemedicine platform Doctor Raksa for undisclosed terms, according to a press release on Thursday (Nov. 11).
This acquisition of Thailand’s biggest telemedicine platform follows DA’s $65.7 million Series C funding round in August, which is among the largest financing rounds by a healthcare technology company in Southeast Asia.
Founded in 2016 by Lim Wai Mun, DA is headquartered in Singapore and is on a mission to become the most prominent tech-enabled omnichannel healthcare provider in the region. Doctor Raksa was established in 2016 in Bangkok, Thailand, and founded by Jaren Siew.
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“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,” Wai Mun said in a statement. “For telehealth to sustain momentum beyond the pandemic, it is critical to establish a robust ecosystem where payers, providers and patients can seamlessly adopt the service.”
He added that the acquisition will give DA additional support to “strengthen our existing infrastructure and pave the way forward for a new future of telehealth in the country.”
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With more than 1 million users, Doctor Raska has tapped reliable telemedicine tech to deliver affordable healthcare to people throughout Thailand, including doctor visits, prescriptions, pharmacist consultations and more.
As a combined entity with DA, both companies will retain their central functions while also sharing resources and knowledge to develop new product features. With this move, DA will also gain a larger footprint in Thailand, which will be the group’s biggest customer base after Singapore.
The acquisition will also put DA on track to become the biggest telemedicine platform in Thailand, with revenue anticipated to grow five times across the next 24 months.
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