eConsult Health Acquisition, Valuation, Funding & Investors

eConsult Health was acquired by Huma for $950M in October 2024, a 2.4x multiple on $400M of revenue.

eConsult Health acquisition price

$950M

Acquired by Huma · Oct 2024

eConsult Health revenue at acquisition

$400M

Last twelve months · Oct 2024

eConsult Health revenue multiple at acquisition

2.4x

EV/Revenue · Oct 2024

Cumulative funding eConsult Health raised

$16M

across 2 funding rounds

eConsult Health Overview

About eConsult Health

eConsult Health is a US-based digital platform providing asynchronous eConsults for primary and specialist care triage. Headquartered in Santa Monica, it enables clinicians to consult specialists via secure messaging with image uploads, reducing in-person visits by 40 percent. Founded in 2010, the system serves health systems like Kaiser Permanente and Veterans Health Administration across 40 states. eConsult Health processes over 1 million consults annually, integrating with EHRs such as Epic and Cerner for workflow efficiency.


Founded

2013

HQ

United KingdomLondon

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$400M (Oct 2024)

Valuation

$950M (acquired Oct 2024)

eConsult Health Acquisition

eConsult Health was acquired by Huma for $950M on 2 October 2024.

The acquisition price implies a 2.4x revenue multiple on $400M of revenue.

Before the acquisition eConsult Health had raised $16M across 2 funding rounds.

eConsult Health acquisition details
AcquirerDateTypePriceEV/Revenue
2 Oct 2024Strategic M&A$950M2.4x

eConsult Health Funding History

eConsult Health has raised a total of $16M across 2 funding rounds.

eConsult Health's first fundraising round was a $7M Series A in October 2020. The most recent completed round was a $10M Series A in February 2021.

eConsult Health funding rounds

eConsult Health funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2021Series AGresham House Ventures (lead); Calculus VCT$10MeConsult Health is a London-based digital triage platform that enables online medical consultations and patient routing within the NHS and broader UK healthcare system. The company was founded in 2013 by CEO Murray Ellender (later led by Martin McCann) and operates a clinician-led consultation service that uses over 10,000 evidence-based questions sourced from NICE guidance and NHS resources. The platform records patient details and symptoms, delivering concise clinical summaries that GPs can process in 2-3 minutes. In February 2021, eConsult Health completed a Series A funding round of £7 million (approximately $9.7 million USD) led by Gresham House Ventures, with participation from Calculus Capital and existing investors. The company reported annual revenue of $10.13 million USD for the fiscal year ending March 31, 2022, with negative EBITDA of $-7.29 million in the same period, indicating ongoing investment in growth and product expansion. At the time of the 2021 funding round, eConsult was working with over 3,000 GP practices, and management indicated plans to expand beyond primary and secondary care triage into urgent care and outpatient services. The company was subsequently acquired by Huma in October 2024, bringing the total equity funding raised to $16 million across two rounds.
Oct 2020Series AGresham House Ventures (lead)$7MeConsult Health is a London-based provider of a medical consultation platform for digital triage used in NHS primary care, founded in 2013 by GP partners. The platform features a clinician-led bank of over 10,000 evidence-based questions and processes patient details in 2-3 minutes. It was live in over 3,200 NHS GP practices by early 2021. Gresham House Ventures led a funding round with a £5 million investment on behalf of Baronsmead VCTs, plus additional contributions from Calculus Capital and existing shareholders, totaling around £7 million. The round, announced in early 2021 but aligned with the approximate August 2020 date, supports expansion into secondary care markets including eTriage for urgent care and eSpecialist for outpatient referrals. Funds aim to accelerate product development amid COVID-19 pressures on the NHS. The investment highlights eConsult Health's position as the most widely used digital consultation solution and first choice for NHS GP surgeries.

Who has invested in eConsult Health?

2 investors have backed eConsult Health across its funding rounds, including Gresham House Ventures and Calculus VCT.

Lead investors include Gresham House Ventures.


eConsult Health Investors

Investors in eConsult Health by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by eConsult Health

eConsult Health has acquired 1 company to date.

Last acquisition by eConsult Health was on May 25th 2021. eConsult Health acquired Q Doctor for undisclosed valuation.


Latest Acquisitions by eConsult Health

Q Doctor
Description
Q Doctor is a UK telehealth platform enabling video consultations with NHS surgeries and organizations. It supplies secure video tools allowing practices to use existing clinicians or add low-cost external workforce for patient appointments.
HQ CountryUnited Kingdom
HQ City
London
Deal Date25 May 2021
Valuationundisclosed
EV/Revenue
EV/EBITDA

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eConsult Health Competitors

eConsult Health competitors include listed companies like Nyxoah and Kooth, and private ones like Forward, Midi Health, SheMed and Hims & Hers.

Public and private companies comparable to eConsult Health
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ForwardUnited StatesSan Francisco, CAPrivate--$1B-
Midi HealthUnited StatesLos Angeles, CAPrivate$150M-$1B6.7x
SheMedUnited KingdomUnited KingdomPrivate--$1B-
Hims & HersUnited StatesSan Francisco, CAPrivate--$1.1B-
NyxoahBelgiumBelgiumPublicly listed$12M($97M)$162M3.2x
KoothUnited KingdomUnited KingdomPublicly listed$85M$13M$90M0.7x

eConsult Health Public Comps

eConsult Health is no longer listed, but its public comps include Helus Pharma, Talkspace, Sphere, Teladoc, GoodRx, Guiyang Longmaster, Medley Inc., JMDC, Ping An Healthcare and American Well.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Helus Pharma-($153M)--(5.4x)(4.8x)
Talkspace$229M$6M3.4x3.4x129.3x49.4x
Sphere$70M$6M14.3x6.9x156.3x103.0x
Teladoc$2.5B$124M0.6x0.6x11.3x5.0x
GoodRx$797M$173M1.8x1.8x8.1x5.5x
Guiyang Longmaster$44M$5M10.0x-87.9x-
Medley Inc.$236M$32M2.1x1.8x15.7x13.2x
JMDC$324M$88M5.0x4.6x18.4x17.9x

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Common questions about eConsult Health

When was eConsult Health founded?eConsult Health was founded in 2013.
Where is eConsult Health headquartered?eConsult Health is headquartered in London, United Kingdom.
Is eConsult Health publicly listed?No, eConsult Health was acquired by Huma in October 2024.
Who acquired eConsult Health?eConsult Health was acquired by Huma in October 2024.
How much was eConsult Health acquired for?eConsult Health was acquired for $950M in October 2024, a 2.4x revenue multiple.
How much funding has eConsult Health raised?eConsult Health has raised $16M across 2 funding rounds.
What was eConsult Health's last funding round?eConsult Health's last funding round was a $10M Series A in February 2021, led by Gresham House Ventures.
Who are eConsult Health's investors?eConsult Health's investors include Gresham House Ventures and Calculus VCT.
Which companies are comparable to eConsult Health?Companies comparable to eConsult Health include Forward, Midi Health, SheMed, Hims & Hers, Nyxoah and Kooth.
How many companies has eConsult Health acquired?eConsult Health has acquired 1 company, including Q Doctor.

See companies similar to eConsult Health

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