Digital GP service provider Push Doctor has evaded insolvency by securing a buyer for its business and assets.
Push Doctor will become a division and trading brand of Square Health, continuing to provide digital healthcare to NHS GP practices and hospitals as well as privately paid services directly to consumers.
The acquisition comes as Push Doctor announced back in November that it was looking for an accelerated sale within the next year to prevent it from becoming insolvent.
The company made a loss of over £7.6m in the financial year ending 31 July 2021 and had 1.1m cash left on its balance sheet.
Matt Elcock, co-founder and managing director of Push Doctor, said he was ‘delighted that Push Doctor is joining the Square Health family’, adding that he was ‘sure business will go from strength to strength as we extend our range of services to customers and support the NHS at this critical time’.
Square Health is the UK’s largest provider of private digital healthcare for insurance companies and corporates, and the newly combined business will serve over 12 million customers in the UK.
Dr Bippon Vinayak, co-founder and executive chairman of Square Health, said he was ‘delighted to welcome the very capable Push Doctor team’.
‘The two businesses are highly complementary, working in separate sectors and allow the opportunity to bring the best in clinical, technological and service delivery,’ he added.
Push Doctor has around 100 staff and has received £50m of investment to develop its digital advice platform.