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Doktor24 gets EUR 10 mln private investment

Private healthcare service provider Doktor24 Medicina group said on Tuesday that it has signed an investment agreement with private equity firms Value4Capital and Ananda Impact Ventures and will be getting EUR 10 million from the two entities, state news wire MTI reports.

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Doktor24 is using the funds to purchase the Svábhegy Child Health Institute in Budapest and the Kastélypark Clinic in Tata as well as building new facilities in Budapest, CEO Róbert Lancz said at a press conference.

The group conducts more than 300,000 examinations annually, most in occupational health and adult outpatient care. Out of more than 400 employees, more than 200 are doctors.

Doktor24 planned to have HUF 5 billion revenue in 2020 but because of the coronavirus pandemic, the companyʼs CEO has revised the forecast to HUF 4.5 bln. Doktor24 still expects to be profitable this year, he added.

In 2019 the group had HUF 3.5 bln revenue and profit was above HUF 300 mln.

CAPEX is still expected to be around HUF 2.5 bln in 2020, helped in part by HUF 300 mln grant from the Hungarian government.

The Doktor24 group is majority-owned by six Hungarian private investors, the ownership share of the two foreign funds will be below 50%.