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SAN JOSE - VSee Health, Inc. (NASDAQ:VSEE) met with the Philippine Tuberculosis Society and former Vice President Leni Robredo, now mayor of Naga City, to explore potential digital health initiatives in the Philippines, according to a company press release. The micro-cap telehealth provider, currently valued at just $17.2 million, is pursuing international growth opportunities despite posting a negative EBITDA of $5.58 million in the last twelve months.
The discussions centered on addressing healthcare challenges in Naga City, where prenatal check-up rates stand at 44% compared to the Department of Health's 99% target. The city is currently working to expand healthcare access through mobile units and participation in PhilHealth's YAKAP project, which provides ₱1,700 (USD 29) per qualified patient to local government units delivering primary care.
VSee's AI-powered telehealth platform already supports several healthcare initiatives in the Philippines, including Project MAMA, a maternal health program with Ateneo of Zambaneo University aimed at reducing maternal and fetal deaths in remote areas. The company has also conducted tuberculosis screenings in collaboration with Remedi, Inc., a developer of portable AI-enhanced X-ray devices.
"This meeting marks an encouraging next step toward deepening partnerships that combine technology, clinical expertise, and public sector leadership to improve population health," said Milton Chen, Co-CEO of VSee Health, in the statement.
The Philippines represents a growth opportunity within Southeast Asia's digital health market, which reached USD 17 billion in 2024 and is projected to reach USD 38.8 billion by 2033, according to iMarc data cited in the release. The Philippine digital health market specifically is expected to surpass USD 1 billion by 2027.
VSee Health provides telehealth technology and services through its platform that integrates video, device data, and electronic health record connectivity.
In other recent news, VSee Health, Inc. has secured a significant three-year platform services agreement to provide virtual urgent care and behavioral health services to a major non-profit academic health system. The contract, which has no revenue ceiling, will cover over 100 hospitals and affiliated sites, with services commencing on January 1, 2026. Additionally, VSee Health reported completing over 100,000 radiology reads within six months of launching its teleradiology platform, with plans to expand to a total of 35 hospitals by the end of the year. The company has also received Authority to Operate at the FedRAMP High level from the U.S. Department of Health and Human Services, enabling it to offer its telehealth platform to federal agencies requiring high-level security compliance. This authorization could significantly expand VSee Health's government business. Furthermore, VSee Health has eliminated over $5 million in legacy SPAC debt, which is expected to strengthen its financial position and maintain compliance with NASDAQ listing requirements. These developments indicate a period of strategic growth and expansion for the company.
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