- Investment supports further growth of Top Doctors in key markets
- The company will close the financial year 2021 with a turnover of above $16 million
- Top Doctors has focused on improving its digital tools and broadening its digital service offering, launching a series of initiatives focused on supporting the healthcare system throughout the pandemic.
- This is the fourth investment in the healthcare industry for IMPACT Partners, the referent in social impact investment in Europe with headquarters in Paris and advisory offices in Barcelona, Frankfurt, and Copenhagen.
- ICF Capital, the venture capital firm from Institut Català de Finances, has co-invested through its venture capital fund ICF Venture Tech II. This is the ninth investment of this fund launched in mid-2019.
London, September, 2021 TopDoctors.com, an online platform for identifying, interacting and booking e-consultations with leading medical specialists in private healthcare, has secured a 13 million dollar investment from Impact Partners and ICF Venture Tech II. Both will join as shareholders of TopDoctors, while a few historical minority shareholders, such as Inveready, divested.
Drake Star Partners were the exclusive financial advisors for Top Doctors during the transaction. This capital increase will strategically be used to strengthen Top Doctors’ market leadership in its main markets, helping those who have difficulty in accessing the services of medical professionals, as well as supporting doctors in digitalising their practices. The company will close its 2021 financial year with a turnover above 16 million dollars.
Founded in 2013, Top Doctors’ has successfully grown its presence across Europe (United Kingdom, Spain and Italy), Latin America (Mexico, Colombia, Argentina, Chile) and Saudi Arabia. The company currently has a team of 250 people, from more than 20 nationalities, and plans to grow its workforce by more than 100 people over the next twelve months.
The Top Doctors platform provides patients with access to a directory of leading national and international medical practitioners (with more than 90,000 experts from 50 specialties) and to a reviews system, which guarantees real, genuine reviews from previous patients. For doctors, the platform provides them with visibility and brand awareness, making it easy for all the patients to find and have easy access to the best experts worldwide.
The SaaS solution includes several tools designed for digitalising practices, including an online appointment booking system, e-Consultation services and payment solutions, as well as many other features. From the patient’s side, they are able to easily access e-consultation services, first-class medical centres and doctors. Furthermore, a review process managed by Top Doctors guarantees that patients can use the platform to find the best specialists in treating their illness. This process helps doctors optimise the care they offer, while at the same time, addressing any potential patient backlogs.
All of Top Doctors’ specialists have undergone an exhaustive auditing process based on recommendations from other medical specialists, an analysis of their career trajectory, a personal interview, and reviews from verified patients. The platform also supports hospitals, diagnostic clinics, and clinical analysis centres in their digital transformation, integrating with their existing healthcare information systems. Additionally, hospitals and clinics can use the platform to offer their patients digital tools such as e-Consultation and an online calendar, or to display a doctor’s complete history by using audited data published by Top Doctors.
Top Doctors plays an important role for patients that have limited access to medical specialists or doctors with expert experience in different pathologies. “According to our internal data, 46% of patients book appointments at clinics in towns or cities outside of where they reside. In other words, they’re travelling sometimes really long distances for specialist medical consultations. Our service allows those in less populated areas to find and communicate with world-class medical specialists and access their expertise remotely” explains Alberto Porciani, CEO of Top Doctors. “This way of accessing healthcare is becoming more accepted as the pandemic drove more people online for their healthcare needs. In fact, throughout 2020 we saw an increase in the number of patients searching for health information on our website, with the number of e-consultations significantly growing as a result of Covid-19.“
According to Nicolás Touboulic, Managing Partner Impact Partners: “Today unequal access to the healthcare system is a major social issue. One of the major challenges is to give access to specialist care to anyone, whatever their income and wherever they live, and to make sure that patients see the most qualified doctor for their condition. Top Doctors helps to reduce unequal access to specialists, by making this access easier for everyone and, at the same time, has demonstrated its leadership in the market combining revenue growth, profitability and cost effectiveness“.
“When you are looking for the right specialist, it is sometimes difficult to make the right decision with the amount of disaggregated information available. Moreover, when you find one, sometimes they’re not suitable and you need to look for someone else. Top Doctors simplifies this process and makes access simple and accurate for everyone”, explains Emilio Gómez Jané of Institut Català de Finances.
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About Top Doctors
TopDoctors® is an online platform for finding and contacting the best medical specialists in private healthcare who are audited and certified through the most rigorous selection process of doctors in the world.
With this purpose, www.topdoctors.com, puts patients in contact with more than 90,000 medical experts in the world. In order to be able to do this, Top Doctors selects its member according to their medical excellence and professional achievement through an exhaustive audit, based on other doctors’ referrals, taking into account existing reviews from patients, as well as the evaluation of the Medical Direction Committee. Thanks to this unique selection process, the company’s high-quality medical directory offers maximum reliability.
The platform offers state-of-the-art technological tools, being the only platform available that combines pre-diagnostic specialists, a prepayment system, a platform for transferring medical information, TD Drive, electronic medical prescriptions, and other tools.
In addition, Top Doctors integrates a real-time online booking system that streamlines the relationship between the medical specialist and the patient: allowing accessibility 365 days a year, 7 days a week, 24 hours a day.
TopDoctors® has become the most reliable medical platform in recent years in the United Kingdom, Spain, Italy, México, Colombia, Chile, Argentina and Saudi Arabia. More than 200 million users have confided in us for identifying their medical specialist.
Join our conversation at @TopDoctors com and Facebook.com, TopDoctors.com, and find the most trustworthy medical information on YouTube at Top Doctors UK or at Blog
About Impact Partners
Impact Partners was founded in 2007 to get a more sustainable and fair society through entrepreneurship. As a pioneer platform fully dedicated to impact investing with +350m€ AUM, Impact Partners is now a European leader with offices in Paris, Frankfurt, Copenhagen and Barcelona.
Through its Impact Growth Fund (investments from €1M to €20M), Impact Partners provides financial and human support in Europe to social entrepreneurs willing to scale. It also provides support to all those who want to create their own franchised business in French deprived areas through its Impact Seed fund (investment from €50k to €500K).
Every year, Impact Partners organizes +50 events to create an inclusive community from small social business to global companies.
https://www.impact-partners.com
About ICF Capital
ICF Capital is the venture capital firm of Institut Català de Finances. Founded in 1985, the Institut Català de Finances is the public financial institution owned by the Government of Catalonia. ICF’s mission is to foster and improve access to funding for enterprises in the region to contribute to the growth of its local economy. ICF’s 4th fund is ICF Venture Tech II a venture capital fund that focuses on technological and innovative digital companies with high growth potential. Investments are mainly in equity or debt/convertible debt, preferably in co-investment with other funds.
About Drake Star Partners
Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, and Geneva. Comprising 100+ professionals with an average 20 years’ experience per managing partner, the firm focuses on M&A and corporate finance worldwide. Drake Star Partners completed over 400 transactions since 2004, 75% of which are cross-border.
Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Kession Capital Ltd (FRN582160) which is authorised and regulated by the Financial Conduct Authority. © 2016 Drake Star Partners Limited.
For further inquiries, please contact:
Christophe Morvan
Managing Partner, Drake Star Partners
[email protected], +33 170 087 610
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