Telehealth giant Teladoc said Wednesday it would buy Livongo Health in a deal valuing the combined company at $18.5 billion as demand for virtual consultations with physicians soars during the Covid-19 pandemic.
... [+]Telehealth giant Teladoc Health said Wednesday it would buy Livongo Health in a deal valuing the company at $18.5 billion as demand for virtual consultations with physicians soars during the Covid-19 pandemic.
Use of online and on-demand virtual visits has soared this year as the Coronavirus strain Covid-19 triggered government orders for Americans to take shelter in their homes and prevented them from seeing medical care providers in person.
The merger brings Teledoc’s specialty in virtual healthcare together with Livongo’s expertise in the management of chronic conditions, those involved say. “Together, we will further transform the healthcare experience from preventive care to the most complex cases, bringing ‘whole person’ health to consumers and greater value to our clients and shareholders as a result,” said Teladoc chief executive Jason Gorevic, who will be CEO of the combined company once the deal closes., terms of the deal call for each Livongo share to be exchanged for 0.5920x shares of Teladoc Health plus cash consideration of $11.
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