Teladoc Health for the acquisition of catapult health worth 65 million US dollars
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Teladoc Health The shares closed almost 6%on Wednesday after the company announced that the company will be catapulted in an all-cash deal for $ 65 million.
Catapult offers a wellness test at home with which members check their blood pressure, collect a blood sample, log in other screening information and practically meet with a nurse. Teladoc, a virtual care platform, said that the acquisition will help to improve its ability to recognize the health states at an early stage.
The company said that Catapult will work in his segment for integrated care after completing the deal. At the JPMorgan Health-Care Conference In January, Teladoc said that it is actively working to expand membership and use of services within its segment for integrated care.
“The skills of Catapult Health will help to promote our strategy in a sensible way – since more members have access to convenient and effective well -being and preventive care and enable our customers to have a higher value,” said Chuck Divita, CEO of Teladoc .
From the third quarter of 2024, Catapult generated around $ 30 million for sales of twelve months, said Teladoc. Catapult covers around 3 million people, while Teladoc appeals to more than 93 million members.
“Entry to the forces with Teladoc Health will help us accelerate our effects and promote our common mission, to strengthen a healthier life,” said David Michel, CEO of Catapult.
The deal is expected to be completed in the first quarter of this year.
The acquisition of catapult by Teladoc takes place after a turbulent time for the company. When Teladoc Livongo acquired in 2020, companies had a combined company value of 37 billion US dollars. The share has fallen since then, and Teladoc market capitalization is now less than 2 billion US dollars.
In April, Teladoc announced the sudden departure of Jason Gorevic, who entered CEO in 2009 and steered the company via the Livongo Deal and Covid 19 pandemic. Divita took over the managing director in June and promised to position the company for “long -term sustainable success”.
The catapult deal could also be a Bellwether for stronger consolidation within the digital health sector, since the companies had to adapt to a steamed growth environment and focus on profitability. In January, the Digital Health Startup Transcarent, whose CEO Glen Tullman Livongo founded, announced plans to make the award privately worth around 621 million dollars.
