The newly-raised Series A funding will be channeled towards market expansion in key markets such as Southeast Asia
Medical service marketplace Medical Departures has announced that it has raised a US$2.5 million in a Series A round led by Singapore-based VC fund DMP and Hubert Burda Media, with CyberAgent Ventures and OPT SEA participating.
It will use funds to accelerate growth in key destinations, including Southeast Asia.
Launched in 2014, Medical Departures is an online platform that connects patients with physicians globally. Its platform offers patient reviews, prices, videos and medical certifications.
In an official press release, it claims to have served over 50,000 patients to date. Medical Departures also operates a global dental service platform Dental Departures.
Currently, Medical Departures has over 5,000 doctors and dentists operating in 33 countries such as Singapore, Australia, US, and Latin America.
Global medical tourism is on the rise due to the increasing prevalence of low-cost airline carriers and online travel and hotel booking platforms – making travelling cheaper and more convenient. Patients can expect to save between 30 to 70 per cent on their medical fees if they seek treatment overseas.
In 2015, the number of medical tourists seeking treatment in key Southeast Asia destinations including Thailand, India and Singapore surpassed 10 million.
As Medical Departures extends its reach globally, it would face competition from similar platforms such as MEDIGO.
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