WhiteCoat Global, a Singapore-headquartered digital health provider, is acquiring telemedicine platform Good Doctor Indonesia in what it calls “the biggest merger and acquisition involving two dominant telehealth companies in Southeast Asia to date.”

MDI Ventures and the SoftBank Vision Fund will join as new investors in tandem with the group’s acquisition of Good Doctor.

In addition, WhiteCoat said in a statement that it had also raised new funds in a round led by Raffles Family Office.

Neither the acquisition consideration nor the funding amount were disclosed.

Good Doctor delivers primary and specialist care services while also serving individual consumers through its retail offerings. In addition, it provides pharmacy services and wellness programs.

WhiteCoat said its acquisition of Good Doctor will “create the region’s largest and most comprehensive digital healthcare group,” working with over 130 insurers and 7,500 corporate partners to service over 6.8 million clients.

Bryan Koh, founder and CEO of WhiteCoat, said the acquisition would strengthen the company’s market presence in Indonesia.

He added that the company would seek funding “at the right time” to fuel its next phase of growth. This will involve scaling its omnichannel services “through the integration of cutting-edge generative artificial intelligence capabilities.”

Founded in 2018, WhiteCoat offers telehealth services including doctor consultations, prescription delivery and lab testing. It has operations in Indonesia, Vietnam, and Malaysia.

The company plans to enter “at least two more markets in Asia,” though it did not give any specifics. It also intends to prioritize technology research and development to drive service delivery in both existing and new markets.

See also: The players in SEA’s ailing healthtech landscape

This story was republished with permission from The Business Times. It was moderately edited to reflect Tech in Asia’s editorial guidelines.

(Michelle Zhu - Tech in Asia)