Doctor Care Anywhere Boosts EBITDA 27% with Weight Management Acquisition

EBITDA Growth and Cash Generation Highlight H1 2026

Doctor Care Anywhere (ASX:DOC) posted a robust half-year performance for the six months to June 2026, with EBITDA climbing 27.1% to £2.6 million on revenue growth of 6.3% to £20.4 million. The company’s free cash flow more than doubled to £1.5 million, underpinning a 60.3% surge in cash reserves to £7.7 million. This cash strength enabled the acquisition of a weight management business without the need for external capital.

Strategic Expansion into Weight Management

The £0.9 million acquisition of the trade and assets of a GLP-1 based weight management business, completed in May 2026 through the newly formed DCA Medicspot Ltd, marks Doctor Care Anywhere’s immediate entry into one of the fastest growing segments of UK private healthcare. The acquired business contributed £0.9 million in revenue during the period and operated at approximately breakeven. This move broadens the company’s revenue base beyond its traditional insurer channel and supports its direct-to-consumer strategy, with significant cross-selling potential across virtual GP, mental health, physiotherapy, and health assessment services.

Patient Engagement and Service Integration

Consultation volumes edged up 1.4% to 354,900, with repeat patients accounting for 74.0% of consultations, reflecting strong patient retention. Doctor Care Anywhere’s partnership with Ramsay Health Care UK further enhances its service offering by providing Ramsay patients access to self-pay online GP appointments and seamless referral pathways into secondary care. This integration creates a comprehensive care pathway from primary virtual consultations to in-person specialist treatment, aligning with the company’s vision for end-to-end healthcare delivery.

Operational Efficiencies Drive Margin Expansion

The company achieved operating leverage through better labour cost control, with total labour costs falling 4.9% despite revenue growth. Contribution margin improved by 0.9 percentage points to 42.0%, while EBITDA margin expanded 2.1 points to 12.8%. Net profit rose 28.5% to £0.6 million, supported by revenue growth and disciplined cost management. The higher depreciation and amortisation charge reflects the expanded asset base, including the newly acquired platform.

Regulatory Relief and Forward Positioning

In July 2026, the ASX granted Doctor Care Anywhere relief from quarterly reporting requirements, a nod to its sustained cash generation and operational stability. The company plans to leverage its strengthened balance sheet and broadened service offering to accelerate growth, with management gearing up for roadshows in Australia later in the year to engage investors and outline its strategic trajectory.