International venture capitalists plough millions into GP telehealth clinics

InstantScripts managing director Dr Asher Freilich argues that you don't even need an ‘Uber’ angle to find investors
Sarah Simpkins
Dr Asher Freilich.

General practice is in a financial clinch right now as doctors start walking away from bulk-billing, so why would venture capital funds start ploughing say $4 million, $20 million or even $60 million into GP businesses?

This is actually happening. But it seems, at least on the surface, the financial interest is for the telehealth-only version of the specialty, an idea that can cause disquiet.

Eucalyptus Health, which offers telehealth consults for conditions like obesity and erectile dysfunction, has raised a staggering $60 million from various capital funds.

Another business called Rosemary Health, which offers to treat an even wider range of conditions via video and phone, has raised $4 million from investors in Australia, the US and Singapore.