London-based digital health services firm Doctor Care Anywhere has lodged a prospectus with the Australian Securities and Investments Commission in relation to undertaking an initial public offering (‘IPO’).

The majority of funds raised in the IPO will be used to support investment in marketing and engagement capabilities, investment in new services including specialist and mental health services, and building international business development capabilities.

The firm will have a market capitalisation of approximately A$254.8m (£139.13m) on listing.

The firm said it has chosen Australia to list “because it is a market with investors who have good healthtech knowledge and are keen to invest in digital healthcare, and this fits well with DOC’s plans for international growth.”

Jonathan Baines, Chairman of Doctor Care Anywhere, said: “DOC has grown rapidly since its inception in 2014, providing services to more than 1,500 corporate and SME clients through its major channel relationships.

“The impact of COVID-19 on all our lives has demonstrated the vital role that technology can and must play in the future of healthcare”.

Dr Bayju Thakar, Founder and CEO of Doctor Care Anywhere, added: “The business was set up because we are determined to improve healthcare systems for patients everywhere.

“Our ability to bring together experienced clinicians and a proprietary digital platform is a unique and highly scalable proposition, and will meet growing demand worldwide. We are therefore thrilled to be launching in Australia, and believe that this is an important next step in our company’s story as we continue to focus on innovation in order to strengthen our service offering for patients.”