Revenue: $16.32 million
Growth: 128%
Founders: Dr Asher Freilich, 42; Maxim Shklyar, 46
Head Office: Melbourne, Victoria
Employees: 35
Industry: Healthcare
Website: https://www.instantscripts.com.au
Year Founded: 2018
Dr Asher Freilich was working as a GP when he noticed how many patients would come in for routine and repeat prescriptions.
Motivated to free up valuable time for GPs while saving money for patients, he created telehealth business InstantScripts, where patients could see doctors and get prescriptions on a single platform.
It’s been another strong year of revenue growth for InstantScripts following a mind-boggling 1441% growth rate between 2018 and 2021, which earned it the number one spot in last year’s Smart50 awards.
InstantScripts now offers its services to 75,000 patients a month and has built up a large team of telehealth doctors, competing for talent in a rapidly crowding market.
The company has also added a business-to-business offering for cosmetic nurses, providing a scripting service with access to cosmetics products.
Looking beyond primary healthcare, InstantScripts is developing its platform with an eye towards major health shortages and overrun emergency rooms.
After knocking back approaches from private equity and strategic players, Dr Freilich noted that telehealth start-ups are often burning cash.
“We focused on profitability, but are still maintaining 5-10% month-on-month growth, which should position us well to suitors in the future,” he said.
Smart Company is the leading online publication in Australia for free news, information and resources catering to Australia’s entrepreneurs, small and medium business owners and business managers.
