Novo Holdings A/S, an international investor in healthcare and life sciences, has announced that it has participated in the US$65.7 million Series C financing in Doctor Anywhere, a regional tech-led healthcare company headquartered in Singapore.
As a result of the financing, Dr Amit Kakar, Senior Partner, Head of Novo Holdings Equity Asia will join the Company’s Board of Directors and Carol Wang, Senior Associate, Novo Holdings Equity Asia will join the Board as an Observer.
According to a statement, “The latest investment will significantly bolster DA’s market leadership and put the Company in a leading position to further deepen its presence in its existing markets. It will also allow the Company to expand into new markets, to drive its mission of transforming the regional healthcare landscape through technology.”
Dr Amit Kakar, Senior Partner, Head of Novo Holdings Equity Asia, said, “We are very pleased to invest in DA and to support its mission to transform the regional healthcare landscape through technology. This is our fourth investment in Asia this year and illustrates Singapore’s position as the leading telehealth hub in the region, and is a great addition to our growing portfolio of telemedicine and digital health platforms. We look forward to building on this momentum and to continuing to invest in life science and healthcare companies that are true leaders in their sectors.”
Lim Wai Mun, Founder and Chief Executive Officer of Doctor Anywhere, said, “DA’s mission is to be the largest tech-enabled omni-channel healthcare provider in Southeast Asia, and tech-enabling offline businesses is part of how we differentiate ourselves from competitors. We are thrilled to attract the interest of Novo Holdings, one of the world’s leading life sciences investors. This financing is a significant milestone which is a testament to our vision and track record. We will utilize this funding to further enhance our digital capabilities, and scale up on our ability to deliver quality healthcare seamlessly to our users in Southeast Asia.”
The round was led by growth equity investor Asia Partners and also joined by Philips Venture, OSK-SBI Ventures and existing investors Square Peg, Singapore-based global investor EDBI, IHH Healthcare, Kamet Capital and Pavilion Capital.
Doctor Anywhere is currently available in Singapore, Malaysia, Thailand, Vietnam, and the Philippines. The group also recently announced the establishment of regional tech hubs in Bangalore, India, and Ho Chi Minh City, Vietnam.
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