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Doctor Care Anywhere raises £55.7m

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Funds raised will help the company invest in new services for its patients

Provider of digital health services Doctor Care Anywhere has raised approximately £55.7m to fuel its plans for growth in the UK.

The majority of funds raised in its over-subscribed initial public offering (IPO) will be used to support the company’s investment in new services, including a mental health service due to be launched in the UK in 2021.

The service will be delivered by GPs specially trained to manage complex mental and physical conditions and will provide a range of digital and in-person treatment options.

Dr Bayju Thakar, founder and CEO, said: “Today marks an important milestone in Doctor Care Anywhere’s journey to become a global leader in digital health through joining up the patient journey and making it work better for patients.

“The capital we’ve raised with this IPO will allow us to better serve our current patients with a more extensive range of services and accelerate our growth plans to make digital health another valuable UK export that patients around the world can benefit from.”

In the last 12 months, the company has experienced a more than a 390% rise in monthly video or phone consultations, with the business now covering two million eligible lives in the UK through its strategic relationships with channel partners that include AXA Health, HCA Healthcare and Nuffield.

Following the successful completion of its IPO, DCA has been admitted to the official list of the Australian Securities Exchange. The company will have a market capitalisation of approximately £140.9m following settlement.

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