Digital GP platform Push Doctor on the brink of collapse

Digital GP provider Push Doctor is on the brink of collapse after running out of cash and it failed to secure cash injection in recent weeks.

Founded in 2013, Push Doctor charges patients £25 for a 10-minute video consultation and is manned by GPs working in their spare time.

According to its most recent financial accounts, the Manchester-headquartered company, which employs around 200 staff, made a loss of more than £7.6m in the financial year ending 31 July 2021, following a loss of £6.8m in 2019.

The company, which covers 5.7 million NHS patients across the UK and is partnered with more than 250 NHS GP practices, was left with £1.1m cash in its balance sheet at the end of July, it said.

It temporarily closed its private GP service on 31 January 2020 to ‘focus on the NHS market’ but reintroduced this in December of the same year.

It is has been reported that Push Doctor could now fall into insolvency in the next few days.

According to Sky News, accountancy firm BDO, which has been advising Push Doctor on funding options, was in talks with Square Health, a privately owned healthcare services provider, about a sale.

A deal could be structured as a pre-pack administration but ideally they are looking for a solvent solution.

Boots, the UK’s biggest pharmacy chain, and Babylon-the New York-listed digital health app, are also understood to have explored offers for Push Doctor in recent weeks.

The digital GP app was founded in 2013 by Eren Ozagir, who left the business in 2018.

In total, it has raised tens of millions of pounds from shareholders, and it had been targeting a new funding round in recent months.

In September 2020, the company received £5m in funding from a Government scheme designed to support businesses facing financial difficulties due to the pandemic, matched by £5m from existing shareholders,

Its latest accounts warned, however, that its auditors were doubtful about its ability to continue as a going concern.

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