Online Medical consultation and treatment

Doctor Care Anywhere Group

AU: DOC

Market CapAU$104.6m

Last Close AU$0.55

Doctor Care Anywhere is a fast-growing telehealth company focused on delivering high-quality care to its patients, while reducing the cost of providing healthcare for health insurers and healthcare providers.

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Investment summary

Doctor Care Anywhere Group’s (DOC) Q321 results highlight that revenue has continued to grow throughout the year, with performance in Q3 driven by a return to q-o-q growth in consultations. Following positive momentum, management has reiterated guidance for FY21 of at least 100% y-o-y organic revenue growth. Through its continuing GP recruitment drive over the period, management has positioned itself for scalable growth, which should allow it to capture the time-limited opportunity from growing demand. Additionally, through its acquisition of GP2U Telehealth and by extending its offering in Ireland, DOC has increased in addressable market.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2019A 5.7 (3.7) (4.4) (3.69) N/A N/A
2020A 11.6 (11.6) (13.5) (7.76) N/A N/A
2021E 23.6 (17.2) (18.1) (5.58) N/A N/A
2022E 38.4 (11.5) (9.1) (2.77) N/A N/A
Industry outlook

The global telehealth market is forecast to grow at a CAGR of 23.1% from US$5.3bn in 2019 to US$14.9bn by 2024, primarily driven by COVID-19 related changes to consumer habits. Demand has continued to grow in 2021 as people turn towards telehealth as an alternative to in-person GP appointments, supported by record-high patient waiting lists. Enhanced consumer confidence, along with the benefits of increased efficiency and convenience, should continue to provide long-term tailwinds as pandemic-related restrictions ease.

Last updated on 25/11/2021
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Share price graph
Balance sheet
Forecast net cash (£m) 19.1
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (21.4) (23.6) N/A
Relative* (21.3) (22.9) N/A
52-week high/low A$1.5/A$0.5
*% relative to local index
Key management
Bayju Thakar CEO
Dan Curran CFO

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