Digital health tools operator Doximity has submitted additional documents for its initial public offering. The San Francisco-based startup has already said it plans to raise up to $100 million.
- The company estimates the market value of its telehealth solutions at $ 4.3 billion, using the average contract size and annual subscription fees.
- As of March 31, 2021, more than 90% of U.S. hospitals have the Doximity Dialer application in their facilities, according to presentations. Doximity provided some services free of charge during the pandemic and began paying for them in January, 2021.
- The company gave several reasons for future growth, including stating that the revenues of its top 20 customers had increased by a median multiple of six times since fiscal 2017.
- Annual growth over the year was 78% in 2021 when it recorded revenues of $ 207 million compared to the previous year when it reported $ 116 million.
- CEO and co-founder Jeffrey Tangney, who also co-founded Epocrates, will receive $ 21 million in option awards in 2021 with a base salary of $ 240,000.
Proximity allows physicians to communicate on a HIPAA-compliant platform. The network was previously defined as “LinkedIn for medical professionals”.