By Stuart Condie
SYDNEY–Telehealth provider Doctor Care Anywhere agreed to sell the Australia unit it acquired less than two years ago as part of its refocus on its core U.K. market.
Doctor Care Anywhere on Monday said that it would sell GP2U Telehealth to Connected Medical Solutions for 3.0 million Australian dollars (US$2.0 million). Doctor Care Anywhere acquired it in September 2021 in a deal worth A$11 million.
The sale, for A$500,000 in cash and A$2.5 million in Connected Medical Solutions shares, cements Doctor Care Anywhere’s strategy of pursuing profitability, Chairman John Stier said.
Doctor Care Anywhere said it provided 121,200 U.K. consultations in April and May, up 30% on year. It also agreed an annual price rise with partner insurer AXA Health that was in-line with expectations and reaffirmed the fiscal 2023 guidance it issued in February.
Write to Stuart Condie at stuart.condie@wsj.com
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