Pharmaceutical industry leader Merck Sharp & Dohme (MSD) has made its first investment in an Asia-Pacific healthtech startup by backing the healthcare marketplace HD. HD aims to streamline the fragmented healthcare system in Southeast Asia by providing users with access to healthcare providers, surgical procedures, and health check-ups. It also offers bundled services to reduce costs and flexible payment options.
HD has secured $7.8 million in funding to enhance its marketplace and develop AI technology. The investment round was led by MSD, along with other prominent investors such as SBI Ven Capital and Partech Partners. With this latest funding, HD has raised a total of $18 million.
HD’s marketplace currently features over 30,000 healthcare products and services from 2,500 hospitals and clinics. It has already garnered 400,000 paying customers across Thailand and Indonesia, generating $100 million in annual gross transaction volume. The company aims to expand its network to 5,000 healthcare providers and 600,000 patients by 2025.
In addition to providing a platform for healthcare services, HD has also developed an AI chatbot, Jib AI, trained on healthcare and commerce data. Jib AI helps healthcare professionals by handling initial triaging and care navigation tasks, allowing them to focus on delivering quality patient care. HD plans to enhance Jib AI’s capabilities in the coming months, including adding order processing, scheduling, electronic health record checking, and virtual care.
HD’s unique approach in Southeast Asia, where patients typically go straight to hospitals or clinics, is seen as a critical factor in its success. The company aims to expand its network of external partners, including insurance and pharmaceutical companies, to offer a comprehensive healthcare experience.
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