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Doctor Care Anywhere

Doctor Care Anywhere (DOC) - Expanding Footprint Beyond the UK

608 Views06 Apr 2021 08:03
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SUMMARY

Doctor Care Anywhere (ASX:DOC) is a UK based telehealth business which seeks to address the fragmentation prevalent in traditional healthcare systems by bringing together Primary and Secondary Care through its proprietary technology platform and its own clinicians. By providing online video and phone consultations through this modality, it offers private health insurers the opportunity to reduce costs (reducing unnecessary appointments) while at the same time improve patient experience and outcomes (increased speed from diagnosis to treatment). DOC listed on the ASX in December 2020, raising A$102m at an issue price of A$0.80/share, with $47m representing a shareholder selldown and $65m new funds for expansion in the form of marketing and new vertical opportunities (mental health in particular). The group’s current membership base  represents circa 2.2m people (eligible lives), with DOC currently claiming 0.43m activated lives (signed up and providing personal details), mostly corporate employees who pay no out of pocket to use the service. COVID has been the major driver of telehealth adoption and recent consultation growth given the rolling lockdowns in the UK, with activated lives increasing from 145k in Q4CY19 to 433k in Q4CY20. Near-term growth centres around increasing activated lives across the existing membership base, increasing eligible lives through the Allianz partnership, growing the recently launched mental health offering and entering new regions. The group reported an EBITDA loss of £8.7m in CY20 (A$15.5m), slightly better than prospectus forecasts.

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  • Doctor Care Anywhere (DOC) - Expanding Footprint Beyond the UK
    06 Apr 2021

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