04/12/2020

G+T advised Doctor Care Anywhere Group PLC (ASX:DOC) on its successful IPO and listing on the ASX today.

Doctor Care Anywhere opened the offer for a $102 million raising on November 16 and listed on Friday December 4 with an offer price of $0.80. The company had a market cap of $254.8 million on listing.

Doctor Care Anywhere is a doctor-founded, UK-based telehealth company. Created in 2013, Doctor Care Anywhere through is technology platform offers virtual GP consultations and diagnostic referrals and specialist reviews. 

The cross-border nature of the transaction during the time of the global pandemic provided many unique complexities to the IPO process.  However, each complexity was successfully navigated by Doctor Care Anywhere, the G+T team and all of the advisors, to achieve a fully subscribed CDI offer - one of the largest IPOs to complete in 2020, which was a bumper IPO year.

The G+T team was led by Corporate Advisory partner Adam Laura  and senior lawyer Mary Brady, with support from Maarten De Schepper, Marisa Orr, Jessica Liang and Angus Wood (among others).

Adam Laura said “It was a pleasure to work with the team at Doctor Care Anywhere on its successful ASX listing. It is encouraging that Australia is seen as such a buoyant and stable market for foreign companies to raise capital, during a time of global uncertainty.  We are also honoured to help Doctor Care Anywhere on its mission - providing quality telehealth services across the UK and more broadly, as the company continues to grow.

Gilbert + Tobin’s market-leading Corporate Advisory team, which boasts some of Australia’s leading M&A and Capital Markets lawyers, has advised on many of Australia’s largest and most innovative transactions. G+T has advised the issuers on a number of recent IPOs including Universal Store, Adore Beauty and CleanSpace, Cashrewards as well as currently advising on the proposed Nuix IPO. Gilbert + Tobin is ranked Band 1 in ECM by Chambers Global 2020.

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