Teladoc makes its biggest financial investment yet
Virtual care company Teladoc Health Inc. (TDOC) said on Sunday January 12 that it had agreed to buy telehealth services company InTouch Health in a $600 million cash and stock deal. .
The deal marks Teladoc’s “largest financial investment,” a company representative said in an email.
The purchase price includes approximately $150 million in cash and $450 million in Teladoc stock.
In a note released Monday, Canaccord Genuity LLC analyst Richard Close wrote, “We are encouraged by the transaction as it will significantly expand Teladoc’s opportunities in the hospital and health systems market segment, in addition to to make the combined company the market leader in virtual care platforms. in the employer, payer and now provider segments.
Santa Barbara, Calif.-based InTouch, formerly known as InTouch Technologies Inc., is a provider of telehealth software and devices. The company’s revenue for 2019 is expected to be around $80 million, according to the press release.
InTouch has partnered with over 450 hospitals and health systems with over 14,500 physician users worldwide.
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