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Novo Holdings Participates in US$ 80 Million Series C Investment in Indonesia’s Largest Health-tech Platform Halodoc

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Novo Holdings invests in Halodoc | Pharmtech Focus

Novo Holdings today announced that it has joined the US$ 80 million Series C financing in Halodoc, an Indonesia-based healthtech platform, which was led by PT Astra Digital Internasional, a subsidiary of PT Astra International Tbk (Astra) and joined by existing and new investors including Temasek, Telkomsel’s TMI, Acrew Diversify Capital Fund, Bangkok Bank, UOB Venture Management, Singtel Innov8, BliBli, Allianz X, and Openspace Ventures. This is the first investment by the Novo Holdings Asian life sciences team in Singapore following set up in 2020.

Founded in 2016, Halodoc is a digital healthcare platform that includes a mobile app and website allowing customers across Indonesia to have live consultations with more than 20,000 licensed doctors in the country at any time regardless of where they are. In 2020, the company launched an appointment service that connects over 2000 providers (hospitals, clinics, laboratories) to patients in over 180 cities across the country. Halodoc’s proven track record, led the Ministry of Health appointing it to help roll out Indonesia’s national vaccination program. Halodoc vaccinated over 50,000 citizens across two islands in the first 23 days of the vaccination program, making it one of the country’s leading vaccination facilitators.

Dr Amit Kakar, Senior Partner, Head of Novo Holdings Asia, said: “We are very pleased to invest in Halodoc alongside this stellar group of investors. Over the last year, telehealth has been transformational for patients throughout the world. We believe Halodoc is Indonesia’s foremost telehealth platform. We are seeing numerous exciting life sciences and healthcare investment opportunities in the Asia region which have the potential to deliver new treatments, access to healthcare and dramatically improve outcomes for patients. We believe Novo Holdings’ global track record of investing in life sciences and healthcare combined with our long-term approach, partnering mindset and leveraging our global expertise will enable us to build a strong presence in the region.”

Jonathan Sudartha, Halodoc CEO, said: “We are very pleased that Novo Holdings, one of the most experienced life sciences investors globally, has invested in Halodoc. Halodoc has grown to be Indonesia’s leading healthtech provider. Today, we provide over 20 million users with convenient and reliable healthcare services monthly. We are also proud to be at the forefront of Indonesia’s fight against COVID-19. The Halodoc technology that powers our Appointment system pre-pandemic is now being used to provide a safe and efficient patient journey for COVID-19 testing and vaccinations. We are excited to extend our vision, and we appreciate the continued support given to us by our investors, industry partners, and patients we serve across the country.”

The funds will be used to deepen Halodoc’s penetration in key healthcare verticals across Indonesia, improving patient experiences with technology-based solutions for the country’s most pressing healthcare problems.

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