Indian-owned Heal Acquires Doctors on Call
The first acquisition of 15 million USD for house-call service will benefit thousands of homebound patients in and around New York City.
FREMONT, CA: The fast-growing provider of in-home doctors’ visits, Heal has made its first acquisition paying 15 million USD in cash and stock for Doctors on Call. It is a house-call service that treats thousands of homebound Medicare patients in and around New York City. Heal had already begun working to integrate Doctors on Call, and they had closed the acquisition in May.
The company is serving patients from 2014, by enabling the people to order in-home doctors’ visits via an app or a visit to the company’s website. The service is available in California, Northern Virginia, Washington, D.C., Atlanta, Georgia, and now New York. It employs more than 100 doctors for the patients.
The CEO of the company informed that existing Medicare patients would continue to be served under the Doctors on Call brand. Heal, based in Santa Monica, California, plans to see patients of all ages under its own brand.
Heal’s co-founder and CEO, Nick Desai, says the company is negotiating contracts with private insurers doing business in New York. The acquisition will provide an opportunity for the company to jumpstart their presence. This merger will become beneficial for both parties.
The in-home doctor’s visit is benefitting Heal’s back-office systems for booking, billing, and other functions. Another connected health device Heal Hub provides Heal with real-time data on blood pressure, heart rate, and other health metrics for its patients.
Since 2015 Heal has made more than 150,000 house calls to date. Over 100,000 house calls are expected this year to save money and prevent hospitalizations. The company is planning to expand in large metro markets in the U.S., such as Chicago, Dallas, Miami, and Seattle. The investors in Heal include Jim Breyer, Fidelity ContraFund, the Ellison Family, Lionel Richie, and others.
Nowadays, consumers demand more convenience from their healthcare experiences. Heal’s acquisition of Doctors on Call will leverage the consumerization trend in healthcare.