MediCall startup gets HUF 200 mln investment

Deals

MediCorp Hungary Zrt., the firm behind MediCall, a smartphone app launched two years ago in Hungary aiming to combat the phenomenon of bad self-diagnosis on the internet, received a HUF 200 million capital investment in December.

The number of MediCall users recently reached 13,000, says a press release sent to the Budapest Business Journal. The success of the project attracted the attention of both the healthcare sector and investors, resulting in the conclusion of a HUF 200 mln investment deal with venture capital investor Solus Capital.

"Whether it is an acute problem or an interpretation of a medical report, we tend to search on the internet and ask ‘Dr. Google’ to help," says MediCorp CEO Péter Gáspár. "This may be a solution in some cases, but it also has hidden hazards because you can easily get misinformed."

MediCall offers what Gáspár claims is a much more effective solution, where the user can contact a specialist with their problem directly by phone or in writing, who can give accurate information. 

"We have predicted the development from the beginning, and we are aware of the rapid development of private healthcare and the importance of digitalization," says Gáspár, adding that the last two years have shown there is a need for such a service in Hungary.

The press release describes the system as simple and transparent. The patient reaches out to a doctor via the MediCall app, receives credible information and pays the determined fee, while the doctor gets a fee for working through MediCorp. The service is available 24 hours a day, and requires no personal visits to a medical facility. Apart from the consultation service, clients may also request a visit from the doctor through the app.

"Our investment decision is based on our belief that MediCall is the venture of the future from every aspect," says László Detrekői, senior advisor at Solus Capital. "It is able to establish a new trend in doctor-patient relations, which will result in a development into a successful international company, business-wise as well."

By raising capital, MediCorp says it will also be able to broaden its home visit service, which has so far been available in and around Budapest. With expanding possibilities, more doctors can contract as partners for MediCorp, making countryside visits possible, it adds.

Currently, 400 doctors in 50 fields are available via the MediCall app. Users can select which doctors are available in their neighborhood at any given time, and whom they prefer based on their profile.

The founders emphasized that the capital investment will also help greatly in adapting the app to market demands, as well as enhancing the IT system behind the service with the help of its development team.

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