HD, Southeast Asia’s Leading Healthcare and Surgery Marketplace Secures $5.6M in Series A Funding | Techsauce

HD, Southeast Asia’s Leading Healthcare and Surgery Marketplace Secures $5.6M in Series A Funding

HealthTech Innovator Strengthens Its Leadership with New Chief Medical Officer and the Introduction of Proprietary AI ‘MEhdIQ’ LLM

HD, the leading healthcare and surgery marketplace in emerging Southeast Asia, announces the completion of a $5.6M Series A funding round. This significant round was led by SBI Ven Capital, a subsidiary of the renowned Japanese Internet-based financial giant, SBI Group, through its joint fund with Kyobo Securities from South Korea and NTU Singapore’s NTUitive. The round also witnessed the participation of earlier backers such as M Venture Partners, FEBE Ventures, Partech Partners, Ratio Ventures, and Orvel Ventures, alongside with the welcoming of new investor, TA Ventures.

This funding milestone is a testament to HD’s threefold growth since the last round in December 2022. HD’s flagship offering, the HDcare platform, often described as the ‘Airbnb for Surgeries,’ has seen an astounding 160-fold growth since its inception in late 2022. Pioneering elective surgery solutions, HDcare seamlessly connects patients with premium, yet affordable surgical care, addressing a critical gap in the region. This gap is highlighted by a Lancet report noting that 91% of Southeast Asians lack adequate access to surgery, a stark contrast to the 52% in higher-income Asia-Pacific nations.

HDcare is revolutionizing hospital and clinic operations by optimizing their inpatient care and operating theater capacities, addressing the widespread issue of underutilization. Since its launch, HDcare has empowered over 2,000 patients to access top-tier elective surgeries like thyroid, hemorrhoid, and ophthalmic procedures at rates 15-20% lower than the market. Surgeons on the HDcare platform relish the autonomy and up to fivefold higher earnings, free from the burdens of administrative tasks. Participating hospitals have noted marked improvements in both utilization rates and patient satisfaction.

A portion of this new investment will enhance HD’s care delivery systems. Dr. Kulthep Rattanakovit, also known as Dr. Dev, joins as the new Chief Medical Officer. A gastroenterologist with training from the prestigious Faculty of Medicine Ramathibodi Hospital, Mahidol University, and a fellowship in neurogastroenterology from the Medical College of Georgia, one of the oldest and largest medical schools in the U.S., Dr. Dev brings invaluable experience from his roles as Deputy Chief Medical Officer at Vimut Hospital and 7 years at the BDMS Group, Thailand’s largest health system with a $12 billion market capitalization. HD’s continued emphasis on care delivery and improving patient outcomes follows a strategic partnership inked with Johnson & Johnson MedTech in July last year.

HD’s pioneering vision continues with the integration of AI into healthcare, primarily through its novel ‘MEhdIQ’ Large Language Model. Utilizing a vast, proprietary healthcare product, transaction, and chat commerce data set, MEhdIQ will initially assist HD’s internal teams and network surgeons. Its future potential as a SaaS AI copilot tool for healthcare providers and payers is poised to revolutionize healthcare operations and insurance processes.

Sheji Ho, CEO and Co-Founder of HD, emphasizes, “In emerging Southeast Asian markets, the real opportunity for healthcare AI lies not in building yet another general practitioner chatbot, but in enhancing patient outcomes by streamlining operational and administrative tasks for providers and payers. Our unique MEhdIQ LLM, with its exclusive and anonymized training data, aims to significantly alleviate the administrative load, allowing healthcare and insurance professionals to focus on delivering superior patient care.”

Fast Company recently recognized HD as one of The World’s Most Innovative Companies in 2024. This places HD in the company of innovators such as Nvidia and OpenAI. At the forefront of technological innovation in healthcare, HD has made significant impact. It has facilitated accessible, affordable healthcare and surgeries for over 300,000 patients. With the latest funding, HD is poised for further expansion. The company aims to support over 5,000 healthcare providers and 300 operating rooms, enabling thousands more surgeries by 2025.

Ryosuke Hayashi, CEO of SBI Ven Capital, remarks, “HD’s continued sustainable growth, despite global macroeconomic challenges, is impressive. Their unique business model and relentless execution by seasoned ecommerce and healthcare professionals make them a standout. We are excited to support HD in their mission to be the largest healthcare and surgery marketplace in Southeast Asia, improving access to quality, affordable healthcare.”

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