Digital health services provider Doctor Care Anywhere (‘DCA’) has raised approximately £55.7m to fuel its growth plans in the UK, as well as to expand into new international markets, after completing its over-subscribed initial public offering (‘IPO’).

Following the successful completion of its IPO, DCA has been admitted to the official list of the Australian Securities Exchange (‘ASX’).

The Company will have a market capitalisation of approximately A$254.8m (£140.9m) following settlement.

The majority of the funds raised by the London firm will be used to support its growth strategy, which includes investment in new services, such as a mental health service due to be launched in the UK in 2021.

The service will be delivered by GPs specially trained to manage complex mental and physical conditions and will provide a range of digital and in-person treatment options.

Dr Bayju Thakar, Founder and Chief Executive Officer of Doctor Care Anywhere, said: “today marks an important milestone in Doctor Care Anywhere’s journey to become a global leader in digital health, through joining up the patient journey and making it work better for patients.

“The capital we’ve raised with this IPO will allow us to better serve our current patients with a more extensive range of services, and accelerate our growth plans to make digital health another valuable UK export that patients around the world can benefit from.”

In the last 12 months, the firm reports a more than a 390% rise in monthly (video or phone) consultations.

The company now covers 2 million eligible lives in the UK through its relationships with channel partners that include AXA Health, HCA Healthcare and Nuffield.

London HealthTech Doctor Care Anywhere announces Australian IPO