Thailand’s Bumrungrad Hospital invests $3m in medical app iDoctor

Bumrungrad Hospital Pcl, a Thai listed private hospital, has agreed to acquire a 30 per cent stake in Singapore-based medical app developer iDoctor Pte Ltd for $3 million, according to a disclosure to the Stock Exchange of Thailand on Thursday.

Bumrungrad’s managing director Linda Lisahapanya said that the deal offers an opportunity for the hospital to expand its business into the digital market so its medical services could be reached via smartphones.

“The Board of Directors has considered and is of the view that it is a low risk investment and helps diversify our business into a different market. In addition, it is a good start as we need not develop the application ourselves,” she said in the disclosure.

iDoctor, incorporated in November 2016, is a medical software and programming developer. It was founded by Jaren Siew, who will own the remaining 70 per cent stake after the share transfer is completed.

According to Siew’s LinkedIn profile, he also founded Doctor Raksa, which claims to be Thailand’s first on-demand telemedicine app. The app allows users to consult with their doctors through text, audio or video calls from home.

As one of the largest private hospitals in Southeast Asia with 580 beds and more than 30 specialty centres, Bumrungrad said it will fund this investment with its internal cash flow. The hospital currently has 1,300 physicians, serving 1.1 million patients annually.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.