KVision advocate Beacon investment
in Alodokter – a
leading telemedicine startup of Indonesia
KASIKORN VISION Co., Ltd. (KVision) has announced its advisory role
in the investment of Beacon Venture Capital Company Limited (Beacon VC), a subsidiary of KASIKORNBANK (KBANK), in Alodokter – a
leading telemedicine startups in Indonesia. The company aims
to become a full-fledged platform offering healthcare
solutions from its extensive network of 80,000 physicians, and the number of users which has grown more than 200 times in
the past three years. The platform can efficiently meet
the needs of users in the Indonesian market, allowing them to access healthcare
services across Indonesia.
Mr. Pattarapong Kanhasuwan, KBank
Executive Vice President and KVision Chairman, said,
Overall, the healthcare technology industry in Indonesia has shown promise as
evidenced by its ongoing growth. The stellar performance
of the Indonesian Healthtech market is supported by its population of around
225 million – making it the world’s
fourth-largest country. The provision of telemedicine
service by Alodokter has helped address basic problems related to health service in
Indonesia, where most medical professionals are in big cities, making it more
difficult for patients in remote areas to access medical services.
The provision of healthtech service is therefore imperative in solving
this problem. For 2023, it is projected that
Revenue Growth Forecasts in the healthtech market will rise to USD 1.27 billion, or roughly 46 billion Baht,
with telehealth services being the core business that is growing rapidly in the
industry.
For
this reason, KVision has advised Beacon to invest in Alodokter, an Indonesian
startup that provides comprehensive telemedicine service, including health and illness
information, medical advisory, doctors’ appointments at public and private hospitals, as well as
medicine and supply purchases via a diverse range of payment
channels. Alodokter offers health insurance product that
enables patient to have convenience and affordable health services. Presently, more than 30 million Indonesians use the services
via mobile application and website. The current investment
will provide KBANK the opportunity to offer its financial services on the
Alodokter platform, including credit facilities for doctors, the general public
and hospitals, clinics and pharmacy operators to expand their businesses. KBANK will also be able to offer services such as payroll
account and payment channel systems to the business sector.
Mr. Nathanael Faibis, the
Founder and Chief Executive Officer of Alodokter, said, The Alodokter platform provides users convenient
healthcare services without hospitals or clinics visit, which help lowering
medical expenses. Additionally, doctor consultations through the
platform would result in lower health insurance premiums, as preliminary
analysis of illnesses is beneficial to claim ratio and price competitiveness. This
presents an opportunity for Alodokter to offer more affordable and accessible
health insurance services in the future.
Moreover,
Mr. Nathanael Faibis noted, It is our great pleasure to start a business
collaboration with Beacon VC, as referred by KVision. We are
confident that the cooperation with Beacon VC will enhance our capability to
serve millions of patients in Indonesia and Thailand.
KVision
introduces Beacon VC as the latest investor of Alodokter. This
cooperative effort is of interest to international venture capital firms,
namely Softbank Ventures, Sequis, Golden Gate Ventures, Philips, Heritas MDI
Ventures, Samsung Ventures,
and Hera Capital.
About KVision
KBank
established KASIKORN VISION COMPANY LIMITED (KVision) as an investment holding company. KVision
has capital of USD1,000 million, or
approximately THB 34 billion (registered
capital of THB12 billion) with an
investment scope that spans the globe. KVision initially
focuses on building a strong foundation in four target countries, including
China, where there is a large pool of fintech companies; Indonesia; Vietnam,
where tech startups have been among the fastest-growing
sectors in ASEAN; and Israel, an incubator of tech talents where new
technologies originate. The investment may be held
directly by KVision or through Beacon Venture Capital Fund, which was founded
in 2017.
About
Alodokter
Alodokter
is a leading Indonesian healthcare platform created in 2014 by Nathanael Faibis
and Suci Arumsari. Alodokter provides an end-to-end digital solution to patients, including telemedicine,
doctor booking, medical content, e-pharmacy, and health
insurance services. As the leading telemedicine platform
in Indonesia, Alodokter has more than 30 million monthly
active users, and there are more than 80,000 certified doctors on the platform.
