Doctor Care Anywhere Group - Delivering on another IPO commitment

Doctor Care Anywhere (DOC) has delivered on another IPO commitment, entering the Australian telehealth market with its acquisition of GP2U Telehealth for A$11m. The COVID-19 pandemic has created permanent structural changes in Australian healthcare, which has accelerated the adoption of telehealth, particularly for its large rural population where access to quality healthcare has historically been limited. This acquisition gives DOC a foothold in the market, where management’s experience could allow operations to scale quickly to meet high levels of unmet demand. DOC believes it can do this with only moderate short-term investment, limiting cash burn while boosting mid- to long-term revenue and profitability.