Tuesday 16 July 2019

McGuire backs Irish medtech Webdoctor in €600k fundraise

Webdoctor allows people in Ireland to have an online video consultation with a doctor here, with its fees starting at €28
Webdoctor allows people in Ireland to have an online video consultation with a doctor here, with its fees starting at €28
John Mulligan

John Mulligan

Veteran tech entrepreneur Cyril McGuire has rowed in as a backer of Webdoctor, the Irish online medical site, as part of a near €600,000 fundraising by the firm.

It is the first time Mr McGuire has invested in the company, which was founded in 2014 by clinical director Dr Sylvester Mooney and chief executive Oisin Kim. Mr Kim was not contactable for comment yesterday.

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Webdoctor allows people in Ireland to have an online video consultation with a doctor here, with its fees starting at €28. Typical conditions it treats are chest infections, colds, flu, sore throats and eye issues. Patients receive advice and, where necessary, a referral, sick note or prescription. The service is available from 7am to midnight.

Original Webdoctor backers have also stumped up cash in the latest fundraising, and it brings the total raised by the company to well over €1m.

Enterprise Ireland previously placed €250,000 in the firm as part of a €750,000 fundraising, while Senator Windows founder Noel McSweeney is also an investor.

The latest fundraising has brought Mr McGuire on board with a €150,000 investment.

He was the co-founder of payments firm Trintech, which was sold in 2010 for $93m (€83m). He is also the founder and CEO of investment firm Infinity Capital.

Also investing for the first time in Webdoctor is Johnny Walker, the founder of Global Diagnostics, a diagnostic medical imaging firm. He exited the business a number of years ago. Mr Walker works as a consultant at the radiology department of the private Hermitage Clinic in Dublin, and is involved in other startups. He has invested €50,000 in Webdoctor.

Other backers of the firm include Icevale, a company owned by Noel Ruane, a partner with venture capital firm Polaris Partners.

Evolution Environmental Services, a Dublin-based firm, is also an investor. That company is owned by businessmen Conor McAteer, John Gibbons and Keith Flynn.

Webdoctor has previously indicated plans to expand its business into mainland Europe and the United States.

Irish Independent

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