Dr. Strong decline in results for Dropin: Trying to find a cure in Switzerland

Dr.  Strong decline in results for Dropin: Trying to find a cure in Switzerland

Dr. Drabin faced skepticism from health leaders and politicians, but when the company applied itself diligently to testing, it surfed waves of acceptance through the pandemic.

In recent years, the accounts have been characterized by large revenues due to the Covid pandemic. Last year, turnover fell by more than 30 percent, resulting in a reduction of close to NOK 160 million – from 94 million to minus 68 million at the parent company.

– Covid obviously contributed to the development of the entire healthcare market, but we doubled down on the basic business not related to the epidemic, says Kristoffer Ingebrigtsen, co-founder and now the new CEO of Dr.Dropin.

However, the pandemic is a door opener for the private healthcare industry to find its role. Now founder Daniel Chorley says it’s not just about ideology, the company has become well-known within the public sector.

– The change in wording was sometimes harsh on private health workers. In the real world, it’s a completely different approach. We are now seeing a greater willingness to collaborate to solve many of the problems facing the healthcare system.

Dr. Tropin Founder and Clinical Manager Daniel Chorley (TV) has moved to London, where he will join the local team and expand Dr. Tropin in the UK.  Co-founder Kristoffer Ingebrigtsen is a senior manager at the head office in Majorstua.

Dr. Tropin Founder and Clinical Manager Daniel Chorley (TV) has moved to London, where he will join the local team and expand Dr. Tropin in the UK. Co-founder Kristoffer Ingebrigtsen is a senior manager at the head office in Majorstua. (Photo: Alexander Nordahl)

Development from west of Oslo

– We treat filter coffee. It’s good for cholesterol, says Chorley.

A doctor who left the public sector and started an entrepreneurial company to do all the administrative work and socialize. It didn’t quite work out that way.

If one ignores experimental clinics, Dr. Dropin is still one of the fastest growing private healthcare companies in the country with hundreds of in-house employees and healthcare professionals on a consulting basis.

Last year, Dr. Tropin raised 185 million in capital. The company’s valuation at the time was NOK 850 million.

DN meets Sørli and Ingebrigtsen at the new head office in Majorstua. A stone’s throw away is the Colosseum clinic, and across the street is Volvad, a leader in the development of private healthcare services in Norway.

– Many private healthcare companies have grown up in this area, says Daniel Chorley about the extension along Holmenkolbanen in Oslo West.

Now he has taken over the CEO job at Dr.Dropin from Ingebrigtsen, who joined the company shortly after the opening of the first clinic. Unlike Sørli, Ingebrigtsen is not a doctor, but has a background as a McKinsey consultant from NTNU and a civil engineer in industrial economics.

Went to London

Now Chorley has moved to London with his wife Camilla Hagen Chorley. There, together with the local team, Dr.Dropin will develop in the UK.

Stein’s son-in-law, Eric Hagen, denies it was a move to get Hagen wealth out of Norway.

– No, this move is not tax driven. My wife and I are still tax residents in Norway. It’s an amazing adventure for the whole family to enjoy themselves, Chorley says.

In the UK, the first clinic is opening soon, while a digital dermatologist has already been incorporated following an acquisition.

– The UK has many of the same macro drivers as Norway. There are many disaffected doctors in the public sector and poor recruitment. Patients struggle with access to health services and the GP scheme is at least as hard-pressed, says Inkbrixen.

Norwegian patients in Switzerland

Switzerland, in collaboration with the UK, after in-depth analysis by Dr. Designated as Dropin’s new growth markets. Switzerland has traveled as a new destination for wealthy Norwegians, including the Hagen family.

– So now you believe many Norwegian patients in Switzerland?

– Not many, that’s why we’re moving in that direction. But Chorley says that Norwegians in Switzerland are very welcome.

In Switzerland, the strategy is to gain a foothold by acquiring smaller clinics.

Click for more medical services

Dr. Dr. Dropin wasn’t the only private healthcare operator to experience a hit in earnings last year.

GPs with pilot clinics fell from NOK 40 million in 2021 to NOK 23 million last year. The deficit increased even more, from NOK 13 to NOK 51 million.

Legevisitt, of which Harald Toplak is one of the main founders, stagnated last year with a turnover of NOK 15 million. The drop in turnover was marginal, but the pre-tax effect increased to NOK 11 million.

The Legevisitt company, among others, is behind the women’s health service Maja, with a deficit of NOK 25 million over five years.

Technical race

At the head office, there are about 20 developers who create new digital healthcare services.

The pandemic has forced video consultations, but most GPs’ video queues have been quiet. In the long run, they believe 30 percent of consultations will happen over video.

The founders still believe that digital solutions in conjunction with the physician will ease the pressure on the healthcare system and free up resources for those who need it most.

– We have an aging population that will require more healthcare services, while people have different expectations. It’s a tsunami hitting us, and not everyone is taking the enormous challenges to heart. “This is a big gap that we hope to address with new technology,” says Chorley.

In recent years, the institute has expanded with new specialty areas such as psychiatry, gynecology, physical therapy and dermatology.

Many municipalities now purchase services directly to address specific problems.

– In central Norway, several municipalities have joined forces for a digital psychologist service, and the municipality is buying medical services in Gleb because there are not enough GPs, says Sorli.

Now Dr. Dropin is stepping into the multi-billion kroner market, corporate healthcare.(rule)Copyright Dagens Næringsliv AS and/or our suppliers. We like to share our cases using links that lead directly to our pages. Reproduction or other forms of use of all or part of the Content is permitted with written permission or otherwise permitted by law. See here for additional terms.

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Joshi Akinjide

Joshi Akinjide

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