Boab Capital Group has led a transaction to establish Consolidated Medical Services with Australian private equity fund manager Bridgeport Capital. Consolidated Medical Services has just acquired the Dial a Doctor Group, a leading provider of after-hours in home doctor services in the states of Western Australia, the Northern Territory and Queensland.
The medical services provided by Dial a Doctor falls under the Medical Deputising Services legislation. The service fills a key gap in the market by providing urgent medical services outside of GP clinic operating hours. Patients, including young families and the elderly, can receive urgent treatment through a simple call accessing professional medical care often customized to match cultural and linguistic needs. Dial a Doctor also helps to reduce hospital Emergency Room waitlist times and costs by treating non-life threatening after-hours patients that don’t require the full services of a hospital Emergency Departments.
Dial a Doctor Chairman, Ian Johnson said: “DAD in WA, NT and QLD is already an exciting growth business meeting a growing medical need and the investors are committed to expanding the DAD service into other states, to help fill the void between day time GP clinic operating hours and that of a hospital ER. The services we provide mean that families with young children or the elderly who may have a fever or need stitches when their regular GP is closed don’t have to wait long hours in a hospital ER waiting room. It has also been positive to bring together a direct investment consortium to make this acquisition, which is a new source of capital for small to medium sized businesses looking for growth capital when they can often be too small for institutional investor support.”
Managing Director of Bridgeport Capital, Brendan Sulway said: “Dial a Doctor currently works very successfully with a large number of day time GP clinics across three Australian states to provide services to their patients after-hours. The services that Dial a Doctor provides are not aimed at replacing regular GP consultations but instead fill the current gap in the market when a GP clinic is closed and patients are forced to go to the hospital ER department. Each Hospital ER visit costs the government around $500 per patient visit. If we can help treat some of the non-life threatening cases, this will reduce the overall cost to government, reduce hospital ER department wait times and free up hospital beds. We see this as a win for patients, GP’s and government.”