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§ Private Profile · São Paulo, Sao Paulo, Brazil
Medical centers offering affordable, high-quality healthcare services, including consultations, exams, and dentistry, for low-income Brazilians.
Based in Santo André, São Paulo, Brazil, dr.consulta operates a network of medical centers providing affordable, direct-to-consumer healthcare services to uninsured populations. Utilizing a pay-per-service model, the company offers outpatient care, telemedicine, dentistry, and low-complexity surgeries across more than 60 medical specialties. Operating across major metropolitan areas including São Paulo, Rio de Janeiro, and Belo Horizonte, the healthcare provider has served over 3 million patients and generates approximately $69 million in annual revenue. Beyond primary care, the organization leverages its electronic health records to facilitate clinical trials for pharmaceutical companies and manage its patient data. Founded in 2011 by Thiago Srougi in the Heliópolis favela, the enterprise employs up to 2,000 doctors across its 60 physical centers and is backed by investors including Kaszek Ventures, F4 Fund, and Silicon Valley venture capital firms.
dr.consulta has raised $134.4M across 4 funding rounds.
Key people at dr.consulta.
dr.consulta was founded in 2011 by Thomaz Srougi (Founder , CEO).
dr.consulta has raised $134.4M in total across 4 funding rounds.
Key people at dr.consulta.
dr.consulta was founded in 2011 by Thomaz Srougi (Founder , CEO).
dr.consulta has raised $134.4M in total across 4 funding rounds.
dr.consulta's investors include Elizabeth Robberechts, Japanese International Cooperation Agency, Kamaroopin, Lightrock, Pivotal Ventures, Pedro Faria, Marcos Wilson Pereira, Madrone Capital Partners, Endeavor Catalyst, Flybridge Capital Partners, Kaszek Ventures, McRock Capital.
dr.consulta has raised $134.4M across 4 funding rounds. Most recently, it raised $25.5M Series D in August 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 11, 2023 | $25.5M Series D | — | Elizabeth Robberechts, Japanese International Cooperation Agency, Kamaroopin, Lightrock, Pivotal Ventures | Announced |
| Aug 2, 2022 | $32.8M Series D | Pedro Faria | Marcos Wilson Pereira, Madrone Capital Partners | Announced |
| Mar 1, 2017 | $50M Series C | — | Endeavor Catalyst, Flybridge Capital Partners, Kaszek Ventures, McRock Capital, Monashees | Announced |
| Mar 1, 2016 | $26M Series B | — | Flybridge Capital Partners, Kaszek Ventures, Monashees | Announced |
# Dr. Consulta: Brazil's Healthcare Transformation Engine
Dr. Consulta is a technology-enabled healthcare platform that has fundamentally reimagined primary care delivery in Brazil by combining affordable pricing, vertical integration, and data-driven operations. Founded in 2011, the company operates a network of medical centers across Brazil's major metropolitan areas, serving over 3 million patients through a direct-to-consumer model that bypasses traditional insurance intermediaries[1][4][6].
The company's core mission addresses a critical market gap: approximately 150 million Brazilians lack private insurance and face barriers to quality healthcare[1]. Rather than building another insurance product, Dr. Consulta created an entirely vertically integrated ecosystem—clinics, electronic health records, booking systems, and pharmacy partnerships—all designed to deliver high-quality care at accessible prices. Basic procedures cost around $20, a dramatic reduction from traditional private healthcare[2]. This model has attracted $100 million in venture capital from Silicon Valley firms and global investors, positioning Dr. Consulta as the largest private medical service provider in Brazil[1][2].
Dr. Consulta emerged from a simple but powerful insight: Brazil's healthcare system had a structural inefficiency that technology and operational excellence could solve. The company was founded in 2011 by a team led by founder Srougi, who made the deliberate choice to start in Heliópolis, a low-income favela in São Paulo, rather than targeting affluent neighborhoods[1][4]. This decision reflected the company's core thesis—that underserved populations represented both a moral imperative and a massive market opportunity.
The early years were spent perfecting the model in a single location. For three years, the founding team focused intensely on operational efficiency, patient experience, and cost optimization before expanding beyond that initial clinic[1]. This patient, methodical approach to scaling proved prescient. By 2018, Dr. Consulta had grown to serve 1 million patients—roughly one out of every 12 people in São Paulo—and had expanded to over 50 locations across the city[1]. The company's growth accelerated further, reaching 2 million patients by 2020 and 3 million by the mid-2020s, with operations spanning São Paulo, Rio de Janeiro, and Belo Horizonte[4][6].
Dr. Consulta's most distinctive advantage is its complete control over the healthcare value chain. Because the company operates outside the insurance system, it built everything from scratch: clinics, electronic health records, appointment scheduling systems, and pharmacy partnerships[1]. This eliminates the friction and cost inflation that plague traditional healthcare systems where multiple intermediaries extract value.
The company has transformed patient data into a competitive moat. With millions of patient records spanning 60 medical specialties and 3,000+ services, Dr. Consulta operates a sophisticated data science practice[4]. The company uses analytics to improve clinical outcomes, reduce costs through predictive modeling, and identify opportunities for machine learning applications[2]. Notably, Dr. Consulta has monetized this data by running clinical trials for international pharmaceutical companies—currently managing seven trials across conditions like high cholesterol, heart disease, and diabetes[1].
Rather than clustering clinics in wealthy neighborhoods, Dr. Consulta deliberately places medical centers in the heart of underserved communities to minimize travel time and barriers to care[2][5]. Combined with on-call doctors and same-day outpatient care, this approach dramatically reduces wait times and improves patient satisfaction, with the company achieving a Net Promoter Score of 71[5].
The company has achieved remarkable operational efficiency. Through data-driven management, Dr. Consulta reduced its management layer by 50%, enabling a single manager to oversee two to three medical centers instead of requiring on-site coordinators at each location[5]. This scalability model allows the company to expand geographically without proportional increases in overhead.
Dr. Consulta exemplifies a critical trend in healthcare technology: the unbundling and democratization of medical services. Rather than competing within the existing insurance-based system, the company identified a structural inefficiency and built an alternative ecosystem. This approach mirrors successful tech disruptions in other industries—Uber in transportation, Airbnb in hospitality—where vertical integration and direct-to-consumer models bypass entrenched intermediaries.
The timing has been particularly favorable. Brazil's healthcare system remains fragmented, with significant portions of the population underserved by both public and private options. Simultaneously, venture capital has increasingly recognized that emerging markets represent enormous opportunities for technology-enabled business models that would be economically unviable in developed countries. Dr. Consulta's success has validated this thesis and attracted attention from major healthcare investors; notably, UnitedHealth Group (a US healthcare giant) acquired Amil, Brazil's largest healthcare company, in 2012, and Bain Capital acquired Grupo NotreDame Intermedica in 2014, signaling institutional recognition of Brazil's healthcare transformation opportunity[1].
Dr. Consulta's data science capabilities position it at the intersection of healthcare and artificial intelligence—a sector experiencing explosive growth. The company's ability to apply machine learning to diverse patient populations offers research value that Western-centric datasets cannot provide, creating partnership opportunities with pharmaceutical companies and academic institutions[2].
Dr. Consulta has evolved from a single clinic in a favela into a healthcare infrastructure platform that demonstrates how technology, operational discipline, and market insight can solve structural problems in emerging markets. The company's trajectory suggests several likely developments:
Expansion of Data Monetization: As the patient base grows and data accumulates, Dr. Consulta's clinical trial and pharmaceutical partnership business will likely become an increasingly significant revenue stream. The company's diverse patient population offers unique research value.
Digital-First Evolution: The company has already begun shifting toward telehealth and remote care delivery, particularly accelerated by the COVID-19 pandemic[4]. Expect continued investment in digital tools that reduce the need for physical clinic visits while maintaining care quality.
Regional Consolidation & Potential Exit: With $100 million in venture funding and proven unit economics, Dr. Consulta is positioned either for significant regional expansion or acquisition by a larger healthcare player seeking exposure to Brazil's underserved market.
Influence on Healthcare Models: Dr. Consulta's success will likely inspire similar direct-to-consumer, vertically integrated healthcare platforms in other emerging markets—India, Southeast Asia, and Africa—where the same structural inefficiencies exist.
The company's ultimate impact may transcend its financial returns. By demonstrating that high-quality, affordable healthcare is achievable through technology and operational excellence, Dr. Consulta has reframed what's possible in healthcare delivery for underserved populations globally.
