IT services firm UST Global invests in digital healthcare platform MyDoc

Singapore-based digital healthcare firm MyDoc Pte. Ltd has raised an undisclosed amount of funding from US-based digital and IT services firm UST Global.

The firm will use the funds to drive population-wide digital health programmes, including disease management and health data tracking, it said in a statement.

“UST Global’s technological capabilities and global customer relationships will be beneficial for MyDoc in our next phase of growth,” said Snehal Patel, co-founder of MyDoc.

“UST, with its global presence, vast customer base and domain expertise in the healthcare space, will be an ideal partner to help expand MyDoc’s reach governments and customers across Asia. In addition, UST’s artificial intelligence and cloud capabilities will power the MyDoc platform to expand its offerings,” said Krishna Sudheendra, CFO of UST Global.

MyDoc is an online platform that connects patients with healthcare providers. It was founded in 2012 by Patel and Vas Metupalle – both medical doctors by profession.

MyDoc provides patients and healthcare providers with a system for communication and care management. The platform integrates different healthcare ecosystem players and enables users to access a network of healthcare services, including doctors, online prescriptions and disease management programmes.

Users can select, compare and book health checks and consultations with specialists, diagnostic centres and hospitals. They can also order medicines and access their health insurance portfolio. The company’s clientele includes AIA, AXA, Aetna, Guardian Pharmacy and Health Promotion Board of Singapore.

In August 2014, MyDoc secured an undisclosed amount in funding led by August Capital Partners.

In the health-tech space, Mfine, a yet-to-be-launched online doctor consultation platform, raised $1.5 million (Rs 9.58 crore) in its first round of external funding led by Stellaris Venture Partners.

In August, healthcare service aggregator Click2Clinic raised $850,000 in seed funding from a group of angel investors in the US and Malaysia.

In the same month, home healthcare services firm Portea Medical was reported to be in advanced talks to raise $25 million in a Series C round.

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