Mumbai: Fischer Medical Ventures Ltd (formerly known as Fischer Chemic Limited), through its wholly owned subsidiary Time Medical International Ventures (India) Private Limited formalises its investment in Health Digital Technologies (HDT), joining their existing investors Samsung Ventures and sovereign wealth fund of Malaysia, Khazanah (through MTDC), to bring their tele-consultation platform and e-prescription pharmacy, i.e. DoctorOnCall beyond Malaysia market.
Fischer Medical Ventures Ltd (Fischer MV) is known for its affordable, and accessible medical diagnostic and imaging technologies, by 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 and owning a diverse portfolio of breakthrough diagnostic solutions, Fischer MV envision to grow its telehealth offerings globally with HDT.
HDT is leading Malaysia’s digital healthcare evolution through DoctorOnCall, the nation’s pioneering integrated platform offering a comprehensive healthcare ecosystem, seamlessly merging teleconsultations, online pharmacy services, a dynamic health services marketplace, cutting-edge insurance solutions, and bespoke corporate medical concierge services, all in 1 platform. At the core of their innovation lies the Digital Health Exchange (DHX) platform, a game-changing solution that aggregates healthcare services from multiple providers, ensuring unparalleled service integration across the sector. Through technological innovation, HDT bridges the gap between patients, healthcare providers, and insurers, setting new benchmarks in accessibility, efficiency, and quality care in the digital age.
With a robust infrastructure encompassing more than 500 GP clinics network, engaging over 1.9 million registered users, and supporting more than 20 million annual visits, DoctorOnCall platform has redefined healthcare accessibility and convenience, with an intuitive interface that integrates teleconsultations, online pharmacy services, health services bookings, and bespoke medical concierge services. From frictionless know-your- customer (KYC) processes to robust verification protocols, every interaction prioritizes security and user convenience. Whether it is selecting prescription medications, consulting with physicians, or managing health packages, users benefit from a streamlined experience in just three clicks. HDT’s B2B strategy involves 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. Their commitment to regulatory compliance, data privacy, and security, ensures a seamless user experience and lead to its achievement of “Forbes Asia 100 to watch”.
The digital health industry in Malaysia is experiencing rapid growth, projected to grow at a CAGR of approximately 15-25% over the next five years (source: grandviewresearch.com/industry-analysis/asia-pacific-digital-health-market-report). Malaysia healthcare market is fuelled by increasing adoption of telehealth, online pharmacy, and doctor booking services, as well as government initiatives to digitize healthcare, leading HDT to win a contract with Malayia’s largest Telco CelcomDigi to roll out digital healthcare services to more than 14,000 independent GPs that will enlarge DoctorOnCall’s network for delivery of care@home initiative and another contract to roll out “Dengue Test” in the country through their vast GP network. Leveraging the triumph of their DoctorOnCall platform, HDT is also poised for exponential growth beyond Malaysia, making inroads to lead in Southeast Asia with a recent contract win from a hospital group in Saudi Arabia and actively expanding in Singapore and Indonesia, benefiting from the rising medical tourism in Malaysia.
Commenting on the investment, Mr. Ravindran Govindan, Executive Chairman & MD of Fischer MV states: “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.”
Mr. Maran Virumandi, CEO of Health Digital Technologies shares his excitement with the collaboration: “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.”
This strategic partnership between Fischer MV and HDT exemplifies a joint commitment to innovation, accessibility, and excellence in digital healthcare delivery, setting a new benchmark for the industry globally, with a commitment to innovation, affordability, and quality.