Singapore-based healthcare startup Doctor Anywhere’s (DA) losses nearly tripled even as revenue jumped around 62% in the financial year ended December 31, 2022.
According to its financial statement filed with Singapore’s Accounting and Corporate Regulatory Authority (ACRA), net losses widened around 2.7x to S$43.3 million in 2022 from S$16.2 million a year earlier, while revenue surged to S$51.6 million from S$31.9 million during the same period.
Cash and cash equivalents dropped 23% to S$75.6 million in the financial year ended December 31, 2022, from S$98.3 million in the previous year.
DealStreetAsia has reached out to the company for comments.
Founded in 2017 by former Temasek investment executive Lim Wai Mun, the healthcare provider integrates both digital and offline services — the offline DA clinics and doctors can be located using their online platform. The telemedicine platform also offers online consultation with physicians, bookings for vaccinations, and homecare services. It also provides corporate healthcare solutions that companies can avail for their employees’ health and wellness programmes.
The telehealth startup is headquartered in Singapore and also operational across four other countries in Southeast Asia — Indonesia, Malaysia, Thailand, and Vietnam. Currently, it has 2.5 million users across all these countries.
The company acquired medical services group Asian Healthcare Specialists in December last year and Thailand’s largest telemedicine platform Doctor Raksa in November 2021.
DealStreetAsia reported in January this year that Doctor Anywhere received $8.17 million from Asia Partners and Parkway Holdings as part of its $38.8-million Series C1 round announced in December.
The Series C1 round came just over a year after the healthtech startup raised a $65.7-million Series C in August 2021, in one of the largest private funding rounds ever raised by a healthtech company in Southeast Asia.
