- U.K.-based telehealth company Doctor Care Anywhere (DOC) has listed on the ASX, raising $102 million
- In the company’s initial public offering (IPO) shares were priced at 80 cents, giving the company an implied market capitalisation of more than $250 million
- The funds will allow DOC to drive growth in its existing markets and build its international business development capabilities to expand out of the U.K.
- Shares have been trading 20.3 per cent higher at 96.3 cents
U.K.-based telehealth company Doctor Care Anywhere (DOC) has listed on the ASX, raising $102 million in the process.
In the company’s initial public offering (IPO), 127.5 million CDIs were snapped up at 80 cents each.
The company will have 318.5 million shares on issue following settlement, giving it an implied market capitalisation of more than $254.8 million.
The funds will allow DOC to drive growth in existing markets and build its international business development capabilities.
Doctor Care Anywhere Founder and CEO Dr Bayju Thakar thanked the board, investors and patients who have used the company’s services.
“Whilst today marks an important milestone in Doctor Care Anywhere’s journey, we believe it is only the beginning as we look to become a leader in digital health, not just in the U.K. but globally, by delivering a joined-up and simple patient journey,” he stated.
“The capital we’ve raised via the IPO will allow us to better serve our current patients with a broader range of services and to execute on our clear and ambitious growth plans.”
“We’ve been humbled by the conversations we’ve had with investors as we’ve gone through this process, and been delighted to find so many that have a shared passion for wanting to improve and change how healthcare is accessed and delivered for patients.”
Shares have been trading 20.3 per cent higher at 96.3 cents at 2:33 pm AEDT.