Doctor Care Anywhere acquires Tas telehealth company GP2U
GP2U Telehealth provides virtual GP services under the brand GP2U and tele-mental health services under the brand Psych2U, with the latter representing 78% of GP2U Telehealth’s total revenue.
Doctor Care Anywhere sees significant opportunities to grow national mental health and GP telehealth services in Australia and will focus on the ever-growing mental health burden in Australia, particularly in rural and remote areas.
Approximately half of all adults in Australia will experience mental health concerns at some point with an estimated cost to the economy of up to AU$220 billion each year1. In response to the mental health consequences of the COVID-19 pandemic, the Australian Government has increased spending on mental health to AU$6.3 billion for 2021-222, including a significant expansion of telehealth services to respond to high levels of mental distress in communities across the country.
Sarah Richardson, General Manager GP2U Telehealth said, “GP2U Telehealth has had a positive impact on thousands of patient lives across Australia thanks to the work of our experienced and dedicated team of clinicians.”
“I am excited to join the Doctor Care Anywhere family. Their experience in delivering high quality digital health services and the opportunity for technology synergies between our companies will help us to achieve our growth plans, meet the current high demand for services and allow more patients to benefit from high quality healthcare, wherever and whenever they need it most.”
Dr Bayju Thakar, CEO of Doctor Care Anywhere, said the acquisition will allow Doctor Care to build a presence in Australia and it will provide GP2U the support it needs to make a real difference in helping patients — particularly those in rural and remote regions — access high-quality virtual GP care and, in particular, support existing GP practices in the provision of tele-mental health. “Both service lines are ideally suited to the innovative and responsive applications provided by a telehealth approach, especially where the geographical distance between clinician and patient is prohibitive,” Thakar said.
1 Data according to the Australian Government Department of Health (March 2021): https://www.health.gov.au/health-topics/mental-health-and-suicide-prevention/about-mental-health
2 Data according to the Australian Government Department of Health (May 2021): https://www.health.gov.au/news/budgets-historic-23-billion-investment-in-mental-health-and-suicide-prevention
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