Healthcare networking platform Doximity is expanding beyond its role as “the LinkedIn for doctors” with the announcement that it is acquiring on-call physician scheduling app Amion for $53.5M.
- Amion adds a key component to Doximity’s physician cloud services by integrating scheduling into its existing suite of messaging, referral, and telehealth tools.
- Doximity has over a million doctors as verified members, ranking it among the largest networks of healthcare professionals in the US.
- The company went public last year at a valuation of $7B and has since found success with its strategy of cultivating a community of medical workers that it can then offer tools to in order to improve their day-to-day workflows.
- In its recent conference call with investors, Doximity revealed that its revenue climbed 67% year-over-year to $97.9M, netting a healthy pre-tax earnings of $47M.
The Takeaway
Doximity CEO Jeff Tangney stated that the Amion move was primarily a product acquisition for the company, adding a valuable subscription business that manages over 200k physician schedules across thousands of hospitals.
By expanding Doximity’s roster of collaboration products, Amion’s scheduling tools have the potential to improve engagement across its acquirer’s entire network.
