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- Good Doctor Technology Indonesia (Good Doctor) received its latest Series A funding of US$10 million. MDI Ventures joined as the new and lead investor in this round, while Grab also participated as an investor old .
- Good Doctor is now an independent startup led by Danu Wicaksana and other co-founders, who where MDI, Grab, and SVF (Softbank Vision Fund) are the the minority investors. Good Doctor ready to continue improving access to healthcare in Indonesia by leveraging partnerships that currently have more than 55 insurance partners and more than 2,500 corporations as clients.
- Good Doctor believes that this new funding will boost the company’s growth in an effort to achieve its vision of providing one doctor for every family in Indonesia.
Jakarta, October 4, 2023 – A recent survey conducted by global management consultancy McKinsey & Company, based on data collected in Indonesia in Q3 2022, revealed a significant shift in healthcare behavior among Indonesians. The survey results show that more than 70% of the public intends to continue using telemedicine services even when the pandemic is over. The results of this survey are very much in line with the trends that have occurred at Good Doctor to date.
Chief Executive Officer of PT Good Doctor Technology, Danu Wicaksanashared his insights, “After the pandemic, we observed three important changes in Good Doctor’s user behavior. First, during the pandemic, people sought our services mainly for COVID-related issues, but now they consult us for a variety of other ailments such as fever, indigestion, ulcers, cough and allergies. Secondly, while during the pandemic, consultations were mostly individualized and self-funded, we are now seeing many companies facilitating their employees to access Good Doctor services for free, with more than 55 insurance companies and more than 2,500 corporations having partnered with us. Thirdly, those who used Good Doctor’s services during the pandemic are still relying on telemedicine even after the pandemic has ended because they are comfortable with the service and it has become part of their routine healthcare.”
In line with the strong trend and increasing demand for telehealth adoption in Indonesia, Good Doctor recently secured Series A funding in the range of US$10 million. . MDI Ventures joined the fund as the new and lead investor, followed by existing investor Grab, which also houses GrabHealth with supported by Good Doctor in the Grab app.
MDI Ventures, Indonesia’s largest venture capital firm, backed by Telkom Indonesia, expressed confidence in Good Doctor’s innovative healthcare solution designed for the local market. In his statement, Donald Wihardja, Chief Executive Officer, MDI Ventures said, “We recognize the progress Good Doctor has made and the resilience of Good Doctor’s business model in Indonesia, especially in the corporate segment. Their dedication in providing accessible and high-quality healthcare services by utilizing technology has caught our attention. We see huge growth potential in this endeavor.”
“We remain believes in the advances Danu and the Good Doctor team have made in the field of healthcare technology. Our continued investment is a testament to that belief. We see that the health technology sector in Indonesia is ready for disruption and has potential, so we are confident that Good Doctor will be able to play a big role in the process,” said Neneng Goenadi, Country Managing Director, Grab Indonesia.
Another important development is that Good Doctor is now an independent startup led by Danu Wicaksana and his co-founders. These changes empower Good Doctor to make decisions faster and adapt to the unique healthcare landscape in Indonesia. In addition, MDI’s participation will further strengthen the knowledge and network that Good Doctor can utilize based on MDI’s years of investment experience in the technology sector.
Chief Executive Officer of PT Good Doctor Technology, Danu Wicaksana, expressed his gratitude for the support of leading investors MDI Ventures and Grab, stating, “With this strong support, we are ready to take the next step in improving and expanding healthcare services in Indonesia. In addition to our current curative initiatives, the company intends to implement prevention and health promotion measures in line with the priorities of the Ministry of Health.”
This injection of funds will be used to expand Good Doctor’s reach and influence on the health of the Indonesian people more broadly. To ensure that the wider community has access to quality health services, Good Doctor will establish new partnerships with more institutions in Indonesia, both private (e.g. insurance companies and corporations) and public institutions (e.g. BPJS Kesehatan). This strategic step is in line with Good Doctor’s vision to realize “One Doctor for One Family in Indonesia”.
Reference
McKinsey & Company. (2022, October 17). Survey: Indonesian consumer sentiment during the coronavirus crisis. https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/survey-indonesian-consumer-sentiment-during-the-coronavirus-crisis
CNBC Indonesia. Pandemic over, healthcare business remains healthy? https://www.youtube.com/watch?v=GaM-lhL1St8
About Telkom MDI Ventures
MDI Ventures is a venture capital subsidiary of PT Telkom Indonesia (Persero) Tbk established in 2015. Initially, MDI Ventures invested in startups using Telkom Indonesia’s endowment fund. Today, the state-owned venture capital firm manages funds from various investors.
MDI Ventures has several types of funding, such as early stage funding done through Arise, Emerge, and Indigo. Growth stage funding such as Series A and B is done through MDI100, Centauri, and TMI, while Series C funding is channeled through MDI500 for the next stage.
In addition, three MDI Ventures portfolio startups have been listed on the stock exchanges of several countries, namely PT Global Sukses Solusi Tbk. (RUNS) and Geniee on the Tokyo Stock Exchange and Whispir on the Australian Stock Exchange. Telkom Indonesia is listed on the Indonesia Stock Exchange (IDX: TLKM) and has a secondary listing on the New York Stock Exchange (NYSE: TLK).
About Good Doctor Technology Indonesia
Good Doctor Technology Indonesia (Good Doctor) is a technology-based integrated health service provider that has a vision of ‘One Doctor for Every Family in Indonesia’. Good Doctor collaborates with Grab to provide an integrated telemedicine service, GrabHealth powered by Good Doctor with a mission to provide access to quality health services for users in Indonesia. Supported by more than 6,000 registered doctors and 4,000 trusted pharmacies, hospitals, and authorized health laboratories in more than 100 cities in Indonesia, Good Doctor is ready to answer people’s health needs. Good Doctor is an official partner of the Ministry of Health of the Republic of Indonesia, the Ministry of Communication and Information Technology, and the National Disaster Management Agency (BNPB) in an effort to accelerate the handling of the COVID-19 pandemic in Indonesia since March 2020. After successfully partnering with Grab Indonesia in providing healthcare solutions, Good Doctor launched its application in March 2021 as a form of ongoing commitment to advancing application-based health services and building a digital ecosystem in the health sector. Good Doctor services provide a complete 24/7 healthcare solution through its Medical Consultation feature, Medicines and Health Products e-commerce service for purchase and delivery partnering with over 4,000 pharmacies, hospitals, and authorized health labs, and Health Articles, content on health, tips, and lifestyle curated by a team of doctors. As a leading online healthcare platform, Good Doctor has thousands of medical specialists on its platform with more than 26 different clinical specialty departments, as well as thousands of general practitioners.
Good Doctor has also launched the Good Doctor app which can be downloaded for free on the Google PlayStore and iOS App Store. Visit us at www.gooddoctor.co.id.
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Prasanti Dhewi | prasanti.dhewi@gooddoctor.co.id | 0822-99712737