Medisetter Vietnam

We operate a community of medical doctors and provide them a forum for continuing professional education and peer-to-peer networking. For pharmaceutical and medical device companies, we offer a digital channel to engage with doctors for brand-building, product detailing and market research purposes.

Our captive audience of over 16,000 users across 4 digital
channels is growing by around 15% month-on-month. Close to half of
our total users are active on sel ect channels each day. Having inducted 15% of all the physicians in the country into its network within just 18 months fr om launch, Medisetter is now contracting with pharmaceutical and medical device companies to support their digital doctor engagement and market research initiatives. We have already signed up our first major client which is a global pharma major and are commencing revenue generation in June 2021. We have also launched our MVP web application and demonstrated strong proof of adoption and engagement with 1,100 total users of which 50-60% are monthly active users. We are looking to raise a seed round of USD 150,000 to 200,000 to accelerate our user growth and monetization initiatives.

Individuals: Medical Doctors and Medical Students
Enterprise: Pharmaceutical / Medical device companies, contract research organizations, pharmaceutical market research companies, hospitals and clinics

The workload on medical doctors in developing Asia is high and increasing due to a secular rise in disease prevalence which is not being matched by the supply of talent (due to underdeveloped medical education infrastructure). At the same time, the pressure to stay updated on medical practices, clinical guidelines and drugs is increasing due to the emergence of new pathogens, fast-evolving new treatment paradigms, etc. Doctors are unable to make time to update their medical knowledge through conventional means like attending medical seminars and conferences.

For pharmaceutical companies, there is a pressing need to reduce dependence on traditional HCP engagement through face-to-face sales calls due to rising competition and high workload of doctors which limits the opportunity for sales representative to meet them in person. This HCP access issue has been exacerbated by COVID-19 as conferences and seminars have been cancelled or postponed indefinitely. Finally, regulatory scrutiny of pharma sales representative-to-doctor relationships is increasing which means that person-to-peron disintermediation is required to prevent kick-backs and other unethical dealings.

For pharmaceutical and medical device companies, we provide a digital channel to engage doctors and build their brands so as to reduce their dependence on face-to-face interaction which is increasingly difficult given doctors’ busy schedules and also increasingly considered “intrusive” in nature by medical institutions. The COVID-19 Pandemic has further reinforced the importance to pharmaceutical companies of being able to engage doctors at their convenience and through remote means.

For medical doctors we provide a one-stop-shop digital platform to stay updated on their practice knowledge and earn CME credits. We also provide them a convenient forum for peer-to-peer networking and knowledge exchange.

Alternatives for Enterprise Clients: Digital Agencies / Market Research Companies, Medical Association partnerships

Alternatives for Individual Doctors: Informal social medical communities, pharma-sponsored events and conferences.

Competitors: Medihub

- Digital-only
- Exclusively for medical doctors and students with strict vetting of members
- High-quality proprietary and curated content from credible sources
- Strong connections with international KOL medical doctors and educators
- Omni-channel
- Large user-base already with 15% of all doctors in the country within the network

Enterprise:
1) Digital doctor marketing, sponsored doctor education and market research for pharmaceutical and medical device companies (USD 200 million addressable market opportunity in Vietnam).
2) Doctor recruitment for private hospitals / clinics and contract research organizations

Individual:
1) Premium content subscriptions
2) Ticket sales to CME workshops

User acquisition (marketing)
Enterprise client acquisition (sales staff salaries)
Technology (improvement of web application / development of smart phone application)

Pre-money valuation of USD 800,000. Offer is negotiable subject to profile of investor.

- Future regulatory restrictions on operating digital network businesses
- Pharmaceutical companies developing their own doctor engagement portals

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