DocDoc aims to connect every patient to the most suitable doctor
in their time of need
DocDoc Pte Ltd, a Singapore-based patient empowerment company, has raised US$5.45 million (RM21.2 million) in its latest round of funding.
The financing is led by Adamas Finance Asia Ltd (Adam), a London listed investment company that invested US$2 million via a convertible bond offering alongside regional family offices and high-net-worth individuals, the company said in a statement.
The investment from Adam will help DocDoc focus on scaling its doctor discovery product.
“The investment has come at a most opportune time as we scale our value-added doctor discovery service in conjunction with the region’s largest insurance companies,” Doc-Doc co-founder/CEO Cole Sirucek (main picture) said in the statement.
DocDoc leverages the latest in clinical informatics, artificial intelligence and healthcare quality assessment across Asia’s largest healthcare provider network to deliver its solutions.
DocDoc badges itself as a virtual network of physicians and hospitals supporting patients to find high quality medical care at a negotiated best price. It has offices in Indonesia, Singapore, Malaysia, Vietnam and the Philippines.
It boasts of having Asia’s largest healthcare network with over 23,000 physicians, 600 clinics and 100 hospitals from a broad panel of specialties throughout the region.
In Asia’s healthcare market, the company noted that the majority of the healthcare decisions are based on recommendations from personal networks or arbitrary sources which are not backed by concrete data.
By empowering patients with the relevant data in their time of need, DocDoc aims to connect every patient to the most suitable doctor — thereby resulting in efficiently priced treatments, better outcomes and improved experiences for patients across Asia, according to the company.
In 2013, DocDoc and DoctorPage announced the signing of a definitive agreement to join forces to become Asia’s major e-health portal.
The combined company — to be known as DocDoc — was slated to combine the facilities and operate its headquarters in Boat Quay, Singapore.
The then new integrated entity was said to have a dominant market share in Singapore, and a substantive foothold in South Korea.
On the latest round of financing, Sirucek said it was in line with Adam’s strategy of providing its shareholders with a diversified pan-Asian portfolio to maximise income and potential capital gain, the statement added.
Adam chairman John Croft said it was the firm’s maiden investment, following the change to its investment policy and a series of successful disposals in 2017.
“The transformation of the Adam portfolio is fully underway and the DocDoc investment represents an important step in creating London’s leading diversified, growth and income pan-Asian investment company.
“DocDoc is an exciting next generation digital health platform, adeptly fulfilling patient demand and supported by partnerships with leading insurance companies,” he said.
DocDoc, operating in eight countries with more than 23,000 doctors, aims to enable patients to find the right care at the right time. — TMR