eClinic - medical self-help and consultations

The articles on eClinic's pages are intended as general information and are not suitable for diagnosing your own symptoms. For advice and health professional follow-up, it is recommended to book a consultation, or to use ours Symptom checker.

Do you want to invest in tomorrow's health service?

eClinic will be a leading digital clinic that streamlines the global health market, says CEO Gerd Magna Wold.

The company eClinic's overall goal is to create a safer health everyday life for 1 billion people. This is clearly an ambitious goal. However, Norway is a nation that has come a long way in digitizing processes and is in the top 10 list above the world's most digital nations.

In short, we are used to using mobile phones and other digital tools to solve more and more tasks - far ahead of many other nations. Now it's health's turn.

New technology and falling prices make it possible for even, on an international scale, a small Norwegian company to make a difference.

eClinic invites you to a capital increase

Register to access the prospectus, subscription form and other information.


ALSO READ: Health technology is being helped by the pandemic

eClinic is developing one of the world's first complete digital clinics for a fast-growing international market. 

More than NOK 50 million has already been invested in the development of the platform. 

eClinic uses a world-leading symptom checker with artificial intelligence that saves time and money for everyone. 

The most important goal for eClinic is that you as a user should be assured that you get the right treatment at the right time - no matter where you are.

eClinic is much more than a short video consultation with a doctor: If you are worried that something is wrong with you, our symptom checker will analyze 12.000 symptoms and provide artificial intelligence with probable diagnoses.

If you still do not have the correct answer, you will receive assisted guidance with a nurse who will decide with you whether you need medical assistance from one of our many specialists.

If necessary, eClinic also performs international patient transports by ambulance and scheduled aircraft. eClinic is one Eurami accredited supplier.

More than 100 nurses, doctors and specialists
Here are some of our more than 100 nurses, doctors and specialists covering over 20 languages

eClinic's medical control center provides digital patient records that can exchange patient information safely across national borders, also to your GP or others you provide access to.

eClinic's innovative solutions challenge established processes and create fantastic opportunities for better health for all of us.

Management team with 30 years of experience

The management of eClinic has worked with international assistance, ambulance flights, travel insurance, international sales and marketing for 30 years. The team has led major IT projects and built services and customer concepts in several large international groups.

The company's background and development of eClinic

The company Advanced Medical Support AS (AMS AS) was established in 2015. In 2017, it was transformed into a group, where AMS Holdings AS is the parent company. As of January 2020, there were 3 wholly owned subsidiaries: AMS Assistanse AS, AMS Transport AS and AMS eOmsorg AS. The parent company is owned by key resources, partners and private individuals in a network connected to AMS.

In 2018, the development of the eClinic solution began. Since then, the AMS group has invested NOK 50 million in developing the platform. eClinic is created in a secure zone on the Azure platform. The digital clinic functions as a complete medical ecosystem.

ALSO READ: This sets eClinic apart from others in our industry

eClinic is used to provide services to insurance companies, hospitals, public and private companies, member and aid organizations and directly to private individuals. All this can be integrated into various customer portals on the secure platform.

35.000 patients - profit every single year

Since its inception in 2015, AMS has helped 35.000 patients in 200 countries, and accumulated turnover is around 123 MNOK. The company has made a profit every single year since its establishment, even in the crisis year 2020 when the pandemic put an emergency brake on travel.

The goal of eClinic is to streamline and improve treatment processes. Our advanced medical interaction platform uses, among other things, artificial intelligence to indicate diagnoses and suggest further follow-up.

Is ready to conquer a market in great growth

"Our digital healthcare services are perfectly positioned for a post-pandemic world" Before Covid-19, growth was based on medical assistance for the travel market. Now the company has expanded with a digital clinic that can be delivered globally with great quality and cost advantages.

In addition to a management team with long experience, the company also has an Advisory Board on the team.

Advisory board

The Advisory Board supports eClinic with an international network of contacts, highly relevant experience and expertise. With in-depth knowledge of insurance, international assistance, public health and international companies, they complement the management team's expertise and network.

A network of international contacts is ready to implement a rapid scaling of eClinic. In addition to the health sector, the network also covers insurance, energy, shipping and banking / finance.

Further development eClinic: How to use a capital increase

Prior to the issue, plans have been made for what the new capital raised will be used for. This investment is divided into 3 core areas: Develop the sales organization, service and organizational development and technology and digital services.

Develop the sales organization

In order to gain the desired market shares, eClinic will have to further develop its sales organization. This will be done by establishing a sales team for Nordic B2B and insurance, as well as establishing offices in Denmark and Sweden.

Strategic network building will also be conducted in the main markets for travel insurance, and the existing partner network will be expanded. The goal is to have partners in 7 regions to cover all continents.

In addition to this, digital marketing will be conducted and the management team will ensure that press releases are provided for eClinic. This is to market the brand, reach new target groups and conduct brand building.

make an appointment

We have more than 100 affiliated nurses, doctors and specialists. We are expanding with new specialties and services for online consultations. Our specialists can also offer a "second opinion."

Service and organizational development

If eClinic is to achieve its goals, the organization must be expanded, especially with the core medical team in mind.

On the service side, customer adaptations and portal integration and the establishment of new operational setups will be ensured.

There is also a desire to develop the service offering with more self-help services within prevention and rehabilitation. At the same time, the company will compile national service packages for duty of care.

Technology and digital services

At the same time as the sales organization, the services and the organization are to be expanded, there are also plans to further develop the technology used, and the digital services.

Central here is the adaptation of AI tools for all Nordic languages. The AI ​​tool will also be developed to cover additional special fields, primarily pediatrics and geriatrics.

In addition to an existing treatment offer, new solutions for mental health will also be developed - both for self-help and treatment.

It is also important to implement digital solutions to work preventively in the field of duty of care.

ALSO READ: Investing in health technology is an investment in the future

In addition, the management team is planning several digital solutions that will challenge today's outdated IT systems in the health sector.

Ownership structure

AMS Holdings AS has 67 owners. The management group in the company owns 60,9% of the shares, including subscription rights.

For detailed information, it is recommended to read the prospectus developed in connection with eClinic's capital increase. The prospectus is available in eClinic Investor Portal.


eClinic is valued in the issue at NOK 203,66 million, corresponding to NOK 300, - per share.

In assessing the company's value, the board has used the following assets:

  • Operational medical collaboration platform in safe zone on Microsoft Azure
    • Medical control center (Virtual alarm center) in operational operation - medical resources can be located anywhere in the world
    • Medical "dashboard" monitors all ongoing cases
    • Smart BI tools indicate status and follow-up requirements
    • API interface to external tools and databases
    • Everything is documented in the journal system
  • International assistance - has so far assisted over 30.000 patients in over 200 countries
  • Patient transport - experts in international patient transport, both planning and implementation
  • eClinic - a digital portal to the full range of services:
    • AI-based symptom checker adapted to Scandinavian medical language and method
    • Access to 18 other languages
    • AI-based symptom analysis with concrete suggestions for diagnosis for effective process with a doctor
    • Nurses, doctors and specialists who can follow up patients via messages and video consultation
    • Medical emergency services
    • Receipt of sensor data
    • Dermatologists with Video Library for Treatment Procedures
  • International network of nurses, doctors and specialists, as well as clinics and hospitals
  • Medical management system, quality system and competence management tools ensure deliveries worldwide
  • Websites, online store, payment solution, integrations and automation
  • 2 tax discovery projects under the auspices of the Research Council, so far 3 years and a total of 21 MNOK
  • The largest value lies in future cash flow

Turnover before the pandemic was approximately 4 MNOK per month. The management team is in dialogue with a number of companies in the insurance, offshore and maritime sectors. With sufficient financing, an estimated revenue growth of 78 MNOK in 2022 is a conservative estimate.

Valuation - analysis

Listed Norwegian health companies have an average PE EBITDA of 51,56 (April 2020). If everything goes as planned and eClinic achieves an EBITDA of 189,5 MNOK in 2026, a very optimistic estimate for the company can give a theoretical value of approximately NOK 9,7 billion in 2026.

With the possible prospects, a valuation based on recognized models will give the following values:

Present value of free cash flow: 212,4 MNOK

Venture capital method: NOK 349,0 million

Discounted cash flow with long-term growth: 234,5 MNOK

This gives an average value of NOK 265,3 million, corresponding to a share price of NOK 385,7 per share. In the Board's opinion, however, these assessments cannot be used alone.

Overall, the board makes a discretionary assessment and believes that a subscription price of NOK 300 per share is reasonably reflected in underlying values, taking into account future expectations and risk. This values ​​AMS Holdings AS at NOK 203,66 MNOK before the capital increase, taking into account subscription rights.

Capital increase

Expansion of the share capital shall facilitate the supply of necessary capital to the company.

The framework for capital increase has been adopted by the board:

  • The subscription deadline is July 19, 2021
  • The minimum subscription is 50 shares, corresponding to NOK 15.000.
  • The subscription amount is paid within 7 days to the company's bank account

The issue is aimed at new and existing shareholders. 

Detailed information can be found in the prospectus prepared in connection with the capital increase. An investment decision must be based on the information in the prospectus in its entirety. You will find the prospectus, online drawing and other information in our investor portal.

Contact us

Get in touch to learn more about our services and how they can be adapted to fit into different insurance and occupational health services.

Symptom checker

eClinics Symptom Checker is an advanced AI tool with 880 diagnoses. It gives you an overview of possible causes of your symptoms and health problems. You will receive advice on what to do next.

Share this article

Add Your Heading Text Here

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit elit, luctus nec ullamcorper mattis, dapibus leo pulvinar.