UK telehealth provider Doctor Care Anywhere more than doubled free cash flow to £1.5m in H1, revenue up 6.3% to £20.4m, and struck a partnership with Ramsay Health Care UK.
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Doctor Care Anywhere Group (ASX: DOC) more than doubled its free cash flow to £1.5 million in the six months ended June, a sign that operating changes are starting to stick. The UK telehealth provider also broadened its revenue base beyond the insurer channel.
Revenue came in at £20.4 million, up 6.3% from the same period last year. The May acquisition of weight management business DCA Medicspot contributed £900,000 of that total, giving the group a foothold in one of the UK's fastest-growing private healthcare segments. Doctor Care Anywhere said the deal adds a complementary service that accelerates its direct-to-consumer strategy and opens cross-selling opportunities across its existing virtual GP, mental health, physiotherapy, and health assessment customer base.
Consultation volumes hit 354,900, up 1.4%. The company attributed the increase to enhancements in the online booking process that improved the patient experience and lifted conversion rates from member to user. Repeat patients accounted for 74% of consultations, up from 72.9% a year earlier. The group said roughly three-quarters of all appointments now come from returning patients, reflecting a focus on engagement and continuity of care.
Subscription revenue rose to 10.8% of total revenue from 7.1% in the prior period. The shift reflects both the Medicspot acquisition and a continued push toward direct-to-consumer channels, which carry higher margins than the traditional insurer-funded model.
EBITDA climbed to £2.6 million, up 27.1%, as operating model changes lifted contribution and underlying fixed costs fell. Administrative expenses dropped after a prior-period restructure, partly offset by investment in business development, marketing, and technical resources. Net profit for the period was £600,000, up 28.5%.
During the half, Doctor Care Anywhere struck a partnership with Ramsay Health Care UK. The deal gives Ramsay patients access to self-pay online GP appointments, with secondary care referrals into the Ramsay hospital and specialist network. The group described the arrangement as a new standard for integrated virtual and in-person care.
Cash and equivalents at end June jumped 60.3% from a year earlier to £7.7 million. Net tangible liabilities narrowed to £5.7 million from £6.8 million. A £10.6 million convertible loan note issued in January 2024 requires no principal repayment until December 2027.
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