WhiteCoat to acquire Indonesian telemedicine startup Good Doctor

WhiteCoat founder and CEO Bryan Koh (left) and Good Doctor CEO Danu Wicaksana / Photo credit: WhiteCoat Global

WhiteCoat Global, a Singapore-headquartered digital health provider, is acquiring telemedicine platform Good Doctor Indonesia in what it calls “the biggest merger and acquisition involving two dominant telehealth companies in Southeast Asia to date.”

MDI Ventures and the SoftBank Vision Fund will join as new investors in tandem with the group’s acquisition of Good Doctor.

In addition, WhiteCoat said in a statement that it had also raised new funds in a round led by Raffles Family Office.

Neither the acquisition consideration nor the funding amount were disclosed.

Good Doctor delivers primary and specialist care services while also serving individual consumers through its retail offerings. In addition, it provides pharmacy services and wellness programs.

WhiteCoat said its acquisition of Good Doctor will “create the region’s largest and most comprehensive digital healthcare group,” working with over 130 insurers and 7,500 corporate partners to service over 6.8 million clients.

Bryan Koh, founder and CEO of WhiteCoat, said the acquisition would strengthen the company’s market presence in Indonesia.

He added that the company would seek funding “at the right time” to fuel its next phase of growth. This will involve scaling its omnichannel services “through the integration of cutting-edge generative artificial intelligence capabilities.”