Shobha Roy

Online doctor consultation platform - DocsApp has merged with the digital healthcare platform – MediBuddy to consolidate its position in the evolving digital healthcare market in India. While finer details of the merger were not disclosed, however, it would include an exchange of both cash and stock.

According to Satish Kannan, CEO of the merged entity, the Covid-19 pandemic has pushed people to make use of digital healthcare platforms. The rising awareness of the benefits and cost savings will continue to serve as “tailwinds” to the sector.

“We have witnessed a growth of over 60 per cent in the last two months backed by consumer awareness about digital health platform and a rising demand from doctors, pharmacies and hospitals. We hope to grow by over three times in the next 18-24 months,” Kannan told BusinessLine .

India, which did not witness significant investments in digital healthcare system till recently, will now see traction in demand and investments backed by the demand from consumers for telemedicine, he said.

While there has been a spurt in consultations pertaining to Covid-19 and related ailments, there has also been a surge in enquiries from people for gynaecological, paediatrics and mental health related problems.

“Consumers will come to know that telemedicine is the new norm and also realise the multiple benefits including cost savings that come along with it. All this will continue to be tailwind for the industry,” he said.

The government, both central and State, has also been very supportive of enabling the proliferation of digital healthcare system so as to make healthcare available and affordable to people.

Stepping up rural reach

The merged entity also announced $20 million (approximately ₹150 crore) Series B round of funding led by Bessemer Venture Partners, Fusian Capital, Mitsui Sumitomo (MSIVC) & Beyond Next ventures. The funds will be utilised in strengthening its doctor base, patient reach, product and technology.

Together, the combined entity is capable of servicing the healthcare needs of over 3 crore Indians, with a partner network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres and 2,500 pharmacies.

“Currently 50 per cent of our customers come from top cities while the remaining 50 per cent are from the smaller towns. The increased availability and affordability of smartphones and the penetration of internet, would make it easier to reach people in remote locations through digital healthcare platform,” he added.

comment COMMENT NOW