Vitura Health acquires Doctors on Demand for $25 million

MELBOURNE, AUSTRALIA: Vitura Health Limited (ASX: VIT), a diversified digital health company, has announced that it will acquire Doctors on Demand Pty Ltd (DoD), a leading telehealth platform, for $25 million in cash and equity. The deal is expected to close on or around 26 October 2023.

DoD was founded in 2015 by Brisbane pharmacists John Martin and John Neilson. It provides online consultations with Australian registered healthcare practitioners via videoconference 24/7. The acquisition will bring a significant number of prescribers and patients to Vitura, as well as enable it to enter new healthcare verticals such as urgent care, men’s and women’s health, weight loss and smoking cessation.

The acquisition is part of Vitura’s Vision26 strategy, which aims to grow its operations and revenues beyond medicinal cannabis into a wider addressable market. Vitura also plans to enhance DoD’s service offering by allowing patients to purchase medications after their consults. Vitura’s clinical governance will be supported by DoD’s Clinical Advisory Committee, which oversees the 120+ doctors on the platform.