Doktor.se is one of Europe's larger players in digi-physical healthcare – a leading digital platform combined with its own primary care centres and vaccination units. Operations in Sweden, Germany, Finland and Norway.
Financial performance
2024: Revenue 1,626 MSEK; adjusted EBITDA 166 MSEK (10% margin).
LTM as of 31 July 2025: Revenue 1,821 MSEK; adjusted EBITDA 186 MSEK (10% margin).
Expected 2025: Revenue approx. 1,850 MSEK; adjusted EBITDA approx. 173 MSEK; adjusted EBITA approx. 84 MSEK.
Long-term targets: Revenue growth of 20–25%/year (of which ~10% organic), aiming for 5 MDSEK in revenue; EBITDA margin >15% over time.
Operational status & events
The integration of Doktor24 is going well; synergies are expected to drive efficiency and scale over the next 12–18 months.
Geography: strong development in Germany (continued clinic acquisitions), expansion in Norway (Doktor.no AS; Maja.no/Hanshelse.no) and Finland (Doktorfi Oy), as well as the acquisition of Kvartersakuten Tegnérgatan in Stockholm.
Scale: ~209,000 registered patients; 24 primary care centres in Sweden; approx. 75 vaccination clinics; >1.5 million registered app users.
Offering: the platform is also licensed as SaaS (including in Belgium), which provides a scalable revenue stream.
Ongoing rights issue (pre-IPO)
The company is carrying out a rights issue to its existing shareholders of approx. 200 MSEK, with the option of an increase of approx. 50 MSEK if the issue is fully subscribed (up to 250 MSEK in total). The capital will mainly be used for M&A/expansion in Germany (~80%), and for ongoing operations (~20%).
Planned IPO
The board has decided to take the company public; the ambition is 2026, at the latest Q1 2027 (Nasdaq Stockholm).
Source: Doktor.se's own website
On Eqvor you can trade the shares before the IPO here.
