Australian Medical Bookings Service Set To List Next Year: Here's What You Need To Know

Doctor Photo: Getty/Carsten Koall

It is likely that will list on the Australian market mid-way through next year, according to managing director Klaus Bartosch.

The website lets users book medical appointments quickly once they enter their location and the field of expertise they need. What started as a platform for dental bookings now offers a range of services, from GPs to physiotherapists.

Two sources told Business Insider that respected Australian stock-picker David Paradice is among the existing backers, though Bartosch declined to comment as the information is private.

After two off-market rounds of fundraising, the service — which launched in April last year — looks set to become one of several technology-based Australian start-ups to list in the coming months.

Bartosch said the board was yet to make a decision on who would underwrite the float, which is planned for mid-way through 2014, depending on market conditions and the availability of off-market capital.

“Staying private also has its attractions,” Bartosch told Business Insider, adding however that an IPO is the most likely outcome.

He declined to disclose revenue figures, though said he expected booking numbers to double over the next eight-to-12 weeks.

“It’s several thousand a month that we do.”

There are currently around 3500 practices which are committed to taking bookings through the service. Bartosch said this figure was predicted to be approximately 4000 by Christmas.

“We are seeing regular, significant growth in terms of patients and bookings numbers each month,” he said.

A decision on who will underwrite the float has not been made yet, though broker RBS Morgans helped raise its private funding through its high-net-worth clients.

Bartosch said the brokerage had “certainly” expressed its interest in participating, adding there has also been discussions with a number of overseas investment banks.

Several of the overseas banks have a higher risk-appetite for technology companies, he explained.

“It would be fair to say that over the next few months the board will be making some decisions.”

Bartosch also said that 80% of its bookings are made by women, 55% of customers use their smartphones and that the site’s busiest day for traffic is Monday, with 60% of bookings made between 5am and 9am.

“It’s a straight line drop from Monday to Saturday […] Monday is almost twice the size of Saturday.”

Nearly half of the site’s bookings are made out of ours — typically between 8am and 6pm — and most customers are between the ages of 25 and 50, though 15% are over 65, Bartosch said.

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