$3m injection to Doctor Global

By CHRIS BARTON

Taranaki internet medical practice Doctor Global has received a $3 million capital boost from No 8 Ventures and a private investor.

Chief executive Dr Tom Mulholland said the money would be used to expand the web site which provides online consultations for $US20 ($42).

Launched just over a year ago, the site has 23 doctors in Australia and New Zealand providing online medical advice through 10 "e-clinics" on topics including general, nutrition, sexual, allergy and depression.

Dr Mulholland said 1200 patients had registered with the site and that it made several hundred consultations in a year. About 40 per cent were from outside New Zealand.

Morel Ventures has put a total of $2 million into the business from its No 8 venture capital fund, and up to $1 million has come from MAS Technology founder Neville Jordan.

Morel Ventures director Peter Allport said as well as capital the company would provide management and investment expertise to develop Doctor Global franchises worldwide.

"We think there is the right mix of people with the right vision here to take this small enterprise and make it very big - with the potential to be a significant IPO listing on something like the American Nasdaq national market in a three to five-year timeframe."

Mr Allport said research into competing web sites worldwide showed Doctor Global had a significant "first mover advantage' in providing a direct doctor-patient medical consultation via the net. There was also investment interest from other organisations.

Dr Mulholland said the aim was to pioneer internet medicine with doctors using technology to deliver better health care.

"If it's not safe we won't do it."

He said the online doctors only prescribed medicine via the net to patients they knew. He recently turned down an offer involving 1000 prescriptions per week for Xenical at $US30 per prescription.

"We're not out to make a fast buck like many of the other sites."

Next month, Doctor Global will name the New Zealand town it has selected for its "Adopt a Town" scheme - which promises free online consultations for a year to a rural towns without a resident GP.

The web site has been criticised by some doctors who say there is no replacement for a face-to-face consultation.

But Dr Mulholland said the New Zealand Medical Council guidelines for online health care, due to be issued in two weeks, would validate Doctor Global's online code of practice.

Patients using the site enter their medical history, demographic details, and credit card data after completing a questionnaire applicable to the type of e-clinic entered. The site promises an e-mail reply within 48 hours.

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Doctor Global