Asian Healthcare Specialists (AHS) will be acquired by Doctor Anywhere (DA), a medical services company with its headquarters in Singapore, in a cash deal valued at about S$109 million (US $76.7 million) at an offer price of S$0.188 (US $0.13) per share.
The healthtech company also disclosed a US $38.8 million series C1 funding round led by Novo Holdings to help accelerate expansion and partially finance the AHS purchase.
The company’s sales reached S$31.9 million in 2021, up more than 2.8 times from the previous year, according to DA’s financial disclosures. The company secured a S$88 million (US$61.9 million) series C investment led by Asia Partners in August 2021.
In Singapore, Indonesia, Malaysia, Thailand, Vietnam, and the Philippines, DA employs over 600 people. More than 2.5 million people are connected by the business to over 3,000 general practitioners and specialists. The company, which Wai Mun Lim founded in 2017, offers omnichannel services that let users get immunizations and health tests in-person or over the counter as well as on-demand medical counseling and treatment.
AHS, situated in Singapore, provides services in a variety of specialties, including dermatology, general medicine, gastrointestinal, rehabilitation, and urology, among others. According to the company’s website, its network, which spans 12 clinics throughout the city-state, includes 14 medical experts, one family physician, and one physiotherapist.
