Telefonica Brasil venture capital fund Vivo Ventures committed to a BRL25 million ($5.1 million) investment in Conexa Health, the company behind what is claimed to be the largest integrated telemedicine platform in Latin America.

In a stock market statement, Telefonica’s Brazil unit indicated the move was part of a wider plan to strengthen its presence in the digital services segment, in this case targeted at the health and wellbeing sector.

Conexa Health has a controlling stake in Brazil-based Conexa Saude Servicos Medicos, which supplies a range of digital health-related products. The brand provides a telehealth platform connecting professionals to patients, internal systems for medical facilities and a corporate offering targeted at general enterprise.

The investment came from Vivo Ventures, which was formed in 2022 by Telefonica Brasil and affiliate Telefonica Open Innovation.

Its latest buy is the fund’s fourth, after pumping $3 million into integration-as-a-service platform provider Digibee, around $2 million in fintech player Klubi Participacoes and $3 million in open finance SaaS platform company Credit Vista Technologies.