The purchase price of the acquisition consists of approximately $150 million in cash and 4.6 million shares of Teladoc common stock. Teladoc announced its agreement to acquire InTouch Health in January for a purchase price of $600 million.
InTouch Health provides telehealth services to more than 450 hospitals and health systems and more than 14,500 physicians use its technology.
“As virtual care quickly becomes a necessity for all healthcare providers, the acquisition of InTouch Health positions us to lead this transformation in healthcare and be that single, integrated partner,” Teladoc CEO Jason Gorevic said in the July 1 news release.
More articles on telehealth:
Dr. David Blumenthal: Why telemedicine will not ‘totally transform our healthcare system’
Congress introduces bill to makes CARES Act telehealth coverage permanent
FCC adds nearly $200M in funding for rural healthcare program
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