Saturday, Oct 1, 2022
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Singapore’s Doctor Anywhere acquires Thai telemed firm Doctor Raksa

Doctor Anywhere Doctor Raksa-IFM-image
Singapore’s Doctor Anywhere acquires Thai telemed firm Doctor Raksa

Singapore-based telehealth firm Doctor Anywhere has completed the acquisition of Thailand’s largest telemedicine firm Doctor Raksa, according to media reports. The terms of the deal remain undisclosed. Since its launch in Singapore, Doctor Anywhere has expanded into Malaysia, Thailand, Vietnam, and the Philippines.

The deal to acquire Doctor Raksa is set to make Doctor Anywhere the largest telemedicine platform in Thailand. The company is expected to grow its revenue in the country by over 5x in the next two years. Doctor Anywhere’s medication delivery services is expected to be available in 38 provinces by the end of March 2022.

Doctor Anywhere founder Lim Wai Mun said in a statement, “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.”

“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.”

Doctor Raksa CEO Jaren Siew said that the regional exposure of Doctor Anywhere will bring immediate scale, strong B2B relationships, and tech capabilities to Doctor Raksa. This will help the Thailand-based healthtech firm to provide better product offerings to patients, doctors and employees.

Earlier this year, Indonesia-based healthtech firm Halodoc raised around $80 million in a fresh funding round to expand its services in key healthcare verticals. Investors such as Temasek, Bangkok Bank, Novo Holdings and Telkomsel’s venture arm TMI participated in the funding round for Halodoc.

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