(Ecofin Agency) - Tidjane Thiam’s (pictured) Freedom Acquisition I Corp is getting ready to step into the e-health market. The company, which recently raised $345 million in an IPO on the New York Stock Exchange, unveiled a plan to acquire an e-health company in North America.
“We are exploring various opportunities, but our first target is a telemedicine platform on which we can incorporate other services such as health insurance, medical follow-up, and hospital care," the former head of Credit Suisse said.
Freedom Acquisition I Corp, the special vehicle set up to identify and acquire unlisted high potential companies and lead their IPO, should focus primarily on the North American market. In this region, where the Internet penetration rate is quite high, travel restrictions due to covid-19 have forced many companies to adopt digital strategies. The move has helped them achieve impressive results and multiplied their revenues by the end of FY2019.
Freedom Acquisition I Corp wants to take advantage of this particular opportunity to enter markets in Asia, Europe, and emerging countries in the mid-term. “The US market will be overwhelmed within ten to fifteen years. That's why we've set up an international team to start working now. In addition to a US presence, we are also looking at markets in Europe and emerging countries in which the authorities are setting up digital infrastructures," Tidjane Thiam explained.