SOC Telemed acquires virtual care provider for $194M: 5 details 

SOC Telemed completed its acquisition of acute care telemedicine provider Access Physicians for $194 million, the company announced March 30. 

Five details: 

1. SOC Telemed purchased Access Physicians via a cash and stock purchase transaction valued at about $194 million, with additional potential consideration based on performance. 

2. By combining with Access Physicians, SOC Telemed will deliver acute telemedicine services to nearly 1,000 facilities, including more than 700 hospitals across 47 states. 

3. SOC Telemed will combine its telemedicine platform and four established service lines in neurology, psychiatry, critical care and pulmonology with Access Physicians' offerings in infectious disease, cardiology, maternal-fetal medicine and nephrology, among others. 

4. Access Physicians CEO Chris Gallagher, MD, will join SOC Telemed's board as part of the acquisition. 

5. The newly combined company is estimated to have approximately $107 to $113 million in pro forma annual revenue in 2021. 

More articles on telehealth: 
Atrium Health launches comprehensive telemedicine program to extend services
What data reveals about the future of telehealth after the pandemic
Why Amwell doesn't consider Amazon a competitor in virtual care

 

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