LONDON - 9 April 2021 - Doctor Care Anywhere (DOC) is a fast-growing telehealth company focused on the private healthcare sector. 2020 was a transformational year for the company: it signed up major new partners, listed on the ASX, delivered triple-digit revenue and KPI growth and ended 2020 with strong balance sheet (£38.4m in net cash).
We believe DOC is well placed to continue to grow by executing on management's expansion strategy of increasing its activated customer base, developing new services and expanding into Europe and Asia. DOC currently trades at a significant discount to its peers, which we believe will narrow as the company builds up a track record on the market and executes on its growth potential.
DOC trades at 6.9x our 2021 revenue forecast on an EV/sales multiple, which is a sizable 60% discount to its peer group of global telehealth companies, which average 17.2x. However, our two-year forecast revenue CAGR of 80% is 34% ahead of the peer group average 60% growth rate. We believe this valuation discount to peers will reduce over the next 12–18 months, as DOC builds up a track record on the market and executes on its growth strategy.
About Edison
Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.
Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.
