Doctor Care Anywhere Doubles Free Cash Flow During Productive June Half

UK-based telehealth provider Doctor Care Anywhere Group (ASX: DOC) more than doubled its free cash flow to £1.5 million during the six months to end June while also broadening its revenue base beyond the insurer channel.

Revenue of £20.4m was up 6.3% on the previous corresponding period—of which £900,000 was contributed by the May acquisition of weight management business DCA Medicspot, giving the group an immediate position one of the UK’s fastest growing areas of private healthcare.

Strategically, DCA Medicspot adds a complementary service to accelerate its wider direct-to-consumer strategy alongside cross-selling opportunities in the group’s existing virtual GP, mental health, physiotherapy, and health assessment customer base.

Doctor Care Anywhere consultation volumes for the period totalled 354,900 (up 1.4%), driven by enhancements to the online booking process that improved the patient experience and increased conversion rates from member to user.

Repeat patients accounted for 74% of consultations (up from 72.9% at the same time last year), and the group confirmed approximately 75% of all appointments are now delivered to returning patients, reflecting a focus on engagement and continuity of care.

Revenue and Profits

Revenue in the group’s existing business grew 1.7% in line with consultation growth of 1.4%, while subscription revenue increased from 7.1% of total revenue to 10.8%, reflecting the acquisition and continued shift towards direct-to-consumer channels.

EBITDA for the period increased to £2.6m (up 27.1% on the same time last year), driven by operating model changes that increased contribution along with a reduction in underlying fixed costs.

Administrative costs fell following the prior period restructure, partially offset by an investment in business development, marketing, and technical resources.

Net profit for the period was £600,000 (up 28.5%), reflecting revenue growth, improved operating performance and continued cost control across the group.

Ramsay UK Partnership

During the period, Doctor Care Anywhere agreed to a partnership with Ramsay Health Care UK which gives Ramsay patients access to self-pay online GP appointments, with secondary care referrals into the Ramsay network of hospitals and specialists.

The partnership is believed to set a new standard for integrated virtual and in-person care and enables earlier and effective intervention for diagnosed illnesses and conditions.

The group’s cash and cash equivalents at end June jumped 60.3% on the previous year to sit at £7.7m, with net tangible liabilities decreasing to £5.7m from £6.8m in June 2025.

A £10.6m convertible loan note issued in January 2024 remains in place, with no principal repayment required until December 2027.