Medical Departures raised $2.5 million in Series A financing. Singapore-based DMP led the round with participation from Hubert Burda Media, CyberAgent Ventures and OPT SEA, the Asia arm of Japanese digital advertising agency OPT Group. Based in Bangkok, Thailand, Medical Departures is an online platform that helps patients find, compare and book medical appointments abroad.
BANGKOK, THAILAND–(Marketwired – March 21, 2016) – Medical Departures, the medical service marketplace that helps patients find, compare & book medical appointments around the globe announces the completion of $2.5 million USD Series A financing. Singapore based venture capital fund DMP led the round with Hubert Burda Media, CyberAgent Ventures and OPT SEA participating.
Founder and CEO Paul McTaggart says, “The funding will be used to accelerate the growth of Medical Departures in key destinations such as Southeast Asia. We will use these funds to build what has made us successful to date; making it easy & safe for patients to find high quality global medical care for less, and to assist doctors/dentists/hospitals to promote their world class medical treatment to the planet.”
Patients travel globally for their medical treatment for two main reasons: access to a greater selection of high quality medical treatment or savings on their medical treatment of 30-70% compared to their home town. Due to the increasing affordability of global travel through low-cost airlines, more & more patients are choosing to travel outside their home country for medical care. The combined market size of the healthcare market is estimated at $4.7 trillion USD with the global medical care market estimated at $55 billion USD growing at an estimated 15% annually.
Mark Suckling, Principal at DMP, commented, “Technology start-ups focused on the healthcare industry in Asia have seen a lot of investment in recent years. Medical Departures is tackling a unique opportunity — helping overseas patients benefit from excellent and affordable medical services available abroad. Medical Departures plans to continue to expand the range of clinics and procedures it offers, both in Southeast Asia and other regions, which already include Latin America. We look forward to working with the Medical Departures team to support their ambitious plans to become a global player in this business.”
Medical Departures helps patients book their next global medical visit by comparing photos, prices, real patient reviews, videos & medical certifications online 24/7. Patients have become accustomed to the convenience and transparency of booking hotels, airfare & restaurants online and now they are booking online medical appointments in increasing numbers globally.
Founder and CEO Paul McTaggart says, “Ultimately, Medical Departures represents the globalization of healthcare. No longer will local healthcare be the only option available to us: we now have a whole planet of high quality doctors and dentists to choose from.”
About Medical Departures
Medical Departures was established in 2014 and has helped 50,000+ global patients find quality medical care at prices they can afford with its simple, online platform. Medical Departures offers patients over 5,000+ doctors & dentists in 33 countries to choose from.
Medical Departures leverages disruptive technology to connect patients with global physicians, surgeons, clinics and hospitals. Medical Departures operates two websites to empower global healthcare patients: medical treatments — Medical Departures (www.medicaldepartures.com), dental treatment Dental Departures (www.dentaldepartures.com).
DMP focuses on investment in emerging markets that have recently joined the global digital transformation process. Specifically, DMP looks at the development of the consumer internet and its supporting infrastructure.
CyberAgent Ventures invests in internet-related businesses with 160+ portfolio companies globally, actively partnering entrepreneurs from the beginning of their fledgling business and beyond.
About Hubert Burda Media
Hubert Burda Media is a leading European media company. Originally a magazine publisher, today it has become a major investor into digital business models globally. With over 8000 staff employed in 12 countries Burda has a strong international presence.
OPT SEA is an Asian arm of OPT Group, leading digital advertising agency based in Japan offering inbound internet and marketing services for tourists visiting Japan, as well as investment activities and new business expansion.