A French Health Giant Eyes Big Money Move

Doctolib, a major player in the health tech world, is in talks to secure a massive secondary investment. This deal, potentially worth hundreds of millions, could see Generation Investment Management snag a piece of the company from current shareholders. Doctolib's last big funding round in 2022 saw it valued at a whopping $6. 4 billion, making it France's top startup at the time. Though Mistral, an AI startup, has since taken that title with a $14 billion valuation, Doctolib remains a heavyweight. Doctolib's main gig is making life easier for doctors and patients by handling administrative tasks, like booking appointments. It operates in France, Germany, and Italy, and has pulled in a total of $842 million from investors like Eurazeo, General Atlantic, and Accel. Generation Investment Management, led by former Vice President Al Gore, is known for investing in healthcare startups as part of their sustainable investing strategy.The company's co-founder and CEO, Stanislas Niox-Chateau, is no stranger to the startup scene. He started Doctolib in 2013 to simplify the appointment booking process. It's a big deal because both patients and doctors often struggle with scheduling. Patients can have a hard time getting appointments, while doctors' offices deal with gaps in their schedules due to no-shows. Doctolib has been raking in the dough, with annualized subscription revenue hitting $400 million for 2024. They've also managed to cut their losses down to about $60 million for the year. The company's success is evident in its market share, which exceeds 90% of online medical appointment bookings in recent years. However, this dominance has led to some trouble. France's competition regulator fined Doctolib $5. 4 million for abusing its market power with exclusivity deals and acquiring its main rival, MonDocteur, in 2018. Doctolib is reportedly appealing the ruling.