MDLive aims to go public in early 2021: 5 details

Telehealth company MDLive is planning a public offering that would occur in early 2021, CEO Charles Jones said on Aug. 12.

1. Mr. Jones told STAT that Teladoc's $18.5 billion acquisition of Livongo contributed to his decision to move forward with the public offering, which would take place in January or February of 2021.

2. MDLive has bolstered its leadership team in recent months. In March, the company named Chairman Charles Jones CEO, Christopher Shirley CFO and Andy Copilevitz COO. In June, MDLive added former University Hospitals executive Cynthia Zelis, MD, as chief medical officer.

3. On May 5, the company reported its behavioral health business grew nearly 50 percent over the monthly averages for January and February amid the pandemic. The company's repeat visit rates were up 89 percent for therapy patients and 69 percent among psychiatry patients in the past 12 months.

4. The company also expanded its national provider network of board-certified psychiatrists and licensed therapists by 50 percent to meet anticipated increased demands during the pandemic.

5. The company had 34.6 million members as of March 31, representing 187 percent year over year growth. It now has around 40 million members.

More articles on telehealth:
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Fraud, robocalls a concern for CMS when considering permanent coverage for telephone visits

 

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