Online Medical consultation and treatment

Doctor Care Anywhere Group

AU: DOC

Market CapAU$164.9m

Last Close AU$0.92

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’s Q121 update showed that it continues to grow robustly in 2021, with revenue and consultations up c 260% y-o-y, ending the period with a solid balance sheet (net cash of £35.1m). Management remains confident of the growth potential for the rest of the year and expects revenue in 2021 to grow by at least 100% above 2020 levels, implying at least £23.2m in group revenue in 2021.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2019A 5.7 (3.8) (4.4) (3.71) N/A N/A
2020A 11.6 (7.8) (13.5) (7.81) N/A N/A
2021E 23.4 (15.5) (16.3) (5.09) N/A N/A
2022E 37.4 (11.4) (9.0) (2.80) 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. The robust growth in demand for telehealth since the start of the pandemic combined with the stellar returns investors earned by investing in Teladoc, the largest Telehealth company in the world, led to a raft of telehealth company listings in 2020, raising an aggregate US$1.88bn in IPO proceeds and have posted a median return of 26.9% since listing, which has meant that investor appetite for IPOs is likely to continue in 2021.

Last updated on 21/06/2021
Content on Doctor Care Anywhere Group
Doctor Care Anywhere Group – DOC from home
TMT | Initiation | 8 April 2021
Online Medical consultation and treatment
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Share price graph
Balance sheet
Forecast net cash (£m) 20.9
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 10.2 (12.4) N/A
Relative* 6.9 (18.5) N/A
52-week high/low A$1.5/A$0.8
*% relative to local index
Key management
Bayju Thakar CEO
Dan Curran CFO

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