Briefing

OTPP investing in Swedish video doctor app

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The pension plan’s Teachers’ Innovation Platform (TIP) unit is reportedly leading a £117 million ($200 million) round for Kry. The app allows users to consult doctors and psychologists via video and operates in Sweden, Norway, Germany, France and the U.K. (Sky News)

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Talking point: Kry mostly operates in countries with state-run healthcare systems. But the French government, for example, changed the rules in September 2018 to allow the state-funded insurance system to reimburse patients who receive online diagnoses. In the U.K., it competes with domestic player Babylon Health, which entered the B.C. market in March 2019 in a partnership with Telus’s healthcare subsidiary. The Kry investment fits OTPP’s tech priorities. In October 2019, chief investment officer Ziad Hindo told my colleague Zane that TIP was looking to understand technological disruption in health, and that the European market “is not as competed-out” as the U.S.