Globe Telecom’s 917Ventures said Wednesday it expects telemedicine provider KonsultaMD to replicate the success of sister company Mynt, the operator of GCash, in the coming years.
“We’ve had high hopes for KonsultaMD even before the pandemic. We saw it as a way to address the pain points in Philippine healthcare, which was suffering from a lack of healthcare professionals, inadequate health infrastructure, and limited accessibility, not to mention the high cost of medical consultation,” said 917Ventures managing director Vince Yamat in a virtual briefing.
Mynt earlier reached the “double unicorn” status after raising more than $300 million in its latest funding round from new and existing investors.
“People were wary of using the service before as they are used to traditional face-to-face consultations, but with the pandemic, things have changed. Telehealth has become an important innovation that will stay and evolve,” he said.
Less than two years into the global health crisis, medical consultations through the KonsultaMD app already skyrocketed to 1,549 percent from pre-pandemic level.
