Astra-backed Halodoc trims headcount in bid for ‘sustainable business growth’

Photo credit: Halodoc

Halodoc, the Indonesia-based healthtech firm, has laid off a portion of its workforce to “ensure better productivity across the company,” it said in a statement.

“This is not an easy decision, but it is necessary to ensure that we remain on the right path for sustainable business growth,” said Adeline Hindarto, vice president of government relations and corporate affairs of Halodoc.

The company didn’t specify how many employees were affected. It is estimated to have around 1,500 employees as of July 2023, according to data from Alternatives.pe, a platform that tracks filings and funding for companies backed by private equity and venture capital firms.

In addition, Halodoc said it will fulfill the rights of affected employees in accordance with applicable regulations and laws. This includes providing health coverage for them until December 2024.

This development comes after Halodoc secured US$100 million in series D money from Astra Digital International in July. Since its inception, the healthtech startup has raised US$258 million in total, valuing the company at an estimated US$645 million, according to Alternatives.pe.

Founded in 2016 by Jonathan Sudharta and Doddy Lukito, Halodoc is a platform where users can consult with more than 20,000 licensed doctors and buy medicines, supplements, and other health products from 4,900 partner pharmacies.

Last year, Tech in Asia reported that at least 11 drugs that are restricted from being sold online were available on the platform. The company had claimed that it didn’t directly sell the medicines.

However, Indonesia’s food and drug monitoring agency said electronic pharmaceutical system operators like Halodoc are responsible for the drugs they sell on their platforms.

See also: Indonesia’s healthtech regulations inject new dose of optimism to startups