New Delhi: Fischer Medical Ventures Ltd, through its subsidiary Time Medical International Ventures (India) Private Limited, has formalized its investment in Health Digital Technologies (HDT). This partnership, alongside existing investors Samsung Ventures and Malaysia’s sovereign wealth fund Khazanah, aims to expand the tele-consultation platform and e-prescription pharmacy DoctorOnCall beyond the Malaysian market.
HDT is at the forefront of Malaysia’s digital healthcare transformation with DoctorOnCall, an integrated platform offering teleconsultations, online pharmacy services, a dynamic health services marketplace, advanced insurance solutions, and bespoke corporate medical concierge services. The core of their innovation is the Digital Health Exchange (DHX) platform, which aggregates healthcare services from multiple providers, ensuring unmatched service integration.
With a robust infrastructure that includes over 500 GP clinics, 1.9 million registered users, and over 20 million annual visits, DoctorOnCall has redefined healthcare accessibility and convenience. The platform integrates teleconsultations, online pharmacy services, health service bookings, and medical concierge services, offering a streamlined user experience. HDT’s B2B strategy includes providing HealthTech solutions to hospitals, life sciences companies, and a vast insurance and corporate network, including Allianz, AIA, FWD, Generali, Etiqa, Great Eastern, and Prudential.
Ravindran Govindan, Executive Chairman & MD of Fischer MV, commented, “DoctorOnCall is EBITA-positive, proving the platform is relevant in today’s market. Their growth strategy that leverages cutting-edge technology and deep market insights is aligned with Fischer MV, particularly their promising Telemedicine marketplace, AI-driven ecosystem that connects patients, healthcare providers, and insurers seamlessly. Our collaboration aims to expand their B2C markets as well as to acquire more corporate clients and insurance providers globally by leveraging on Fischer MV’s strong sales network and deep expertise in digital health across ASEAN, India, and the Middle East.”
Maran Virumandi, CEO of Health Digital Technologies, added, “Fischer MV’s funding and marketing support propel us toward our goal to expand our cross-border scalability, and global footprint. Fischer MV will bring in invaluable expertise and innovation to the table and we look forward to leverage this partnership to enhance DoctorOnCall’s HealthTech capabilities and expand our combined reach together to revolutionize the healthcare landscape, making quality healthcare more accessible to all.”
The digital health industry in Malaysia is growing rapidly, with a projected CAGR of approximately 15-25% over the next five years. This growth is driven by increased adoption of telehealth, online pharmacy, and doctor booking services, as well as government initiatives to digitize healthcare. HDT recently secured a contract with Malaysia’s largest Telco CelcomDigi to roll out digital healthcare services to over 14,000 independent GPs, expanding DoctorOnCall’s network for the care@home initiative. Another contract will introduce the “Dengue Test” through their GP network.
HDT is poised for exponential growth beyond Malaysia, expanding into Southeast Asia with recent contract wins from a hospital group in Saudi Arabia and active expansion in Singapore and Indonesia, benefiting from Malaysia’s rising medical tourism.
Fischer Medical Ventures Ltd (Fischer MV) is renowned for its affordable and accessible medical diagnostic and imaging technologies, leveraging cutting-edge innovations and AI-powered software solutions in healthcare. As the first company to indigenously manufacture high-quality Magnetic Resonance Imaging (MRI) systems in India, Fischer MV envisions global growth in its telehealth offerings through this collaboration with HDT.