The global telehealth industry market size was valued at $61.40 billion in 2019 and is expected to reach $559.52 billion by 2027.
A year old London-based startup HealthHero has become a telehealth specialist in a short span and has now announced the acquisition of French telehealth pioneer, Qare to become Europe’s largest telehealth company, backed by Europe’s leading healthtech venture builder Kamet Ventures.
Becoming Europe’s telehealth market leader
As the company press release claims, the acquisition establishes HealthHero as Europe’s largest telehealth provider. It now covers 22 million lives and is on track to provide just under 3 million consultations this year with Qare as a part of its business.
Qare, founded in 2016, has been an expert in transforming access to healthcare in France. With its medical expertise and digital innovation, it has been changing healthcare to better serve patients and practitioners. In 2020, it acquired Doctopsy and also became France’s leading digital mental healthcare provider.
Before Qare, HealthHero also acquired Doctorlink last year and was founded by Ranjan Singh, an entrepreneur with over 20 years’ experience innovating and investing in sectors on the cusp of transformation.
Geared with diverse and holistic clinical offering
HealthHero now has the most diverse offering across markets and services; with direct-to-consumer, business-to-business and business-to-government offerings in the UK, Germany, the Republic of Ireland and France; providing a holistic clinical offering including GP support, prescription services, mental health consultations and musculoskeletal specialists.
HealthHero CEO and co-founder Ranjan Singh said of the acquisition: “This is the most significant telehealth acquisition in Europe in recent times, and firmly secures HealthHero’s dominance in the growing telehealth sector, in the largest healthcare market in the world. While we now provide 3 million consultations a year – the most any company will have achieved in Europe – with up to 70-80% of all GP consultations across Europe able to be delivered remotely, this is just the beginning of HealthHero’s growth potential. By working with the best in each market, we are aiming to deliver the best patient outcomes across the continent for each one of these consultations”.
Olivier Thierry, CEO of Qare, who in addition to his current role, will join the Senior Management Group of HealthHero said, “Europe is seeing an explosion of telehealth businesses. We are convinced that tomorrow’s healthtech champions will be European. We share with HealthHero a common European vision for quality and innovative care accessible to all, powered by technology”.
Stephane Guinet, CEO of Kamet Ventures, said, “We created Qare in order to empower patients by offering them access to a holistic set of personalised medical services that were previously only available in-person. Following its tremendous growth, we are delighted to see it join forces with HealthHero to set the gold standard of what patient-centric telemedicine can look like.”