Virtual Care Provider Teladoc Acquires Advance Medical
U.S. virtual care provider Teladoc in June 2018 acquired Advance Medical, a virtual care provider with strong presence outside of the United States, creating a global virtual care platform.
Advance Medical adds its suite of international clinical capabilities to Teladoc’s technology and scale. The new company is now equipped to meet the needs of U.S. multinational employers, for whom one-third of all employees live abroad.
Advance Medical is present in markets such as Latin America and Asia, where private health insurance growth rates are more than double that of the U.S.
The purchase price consists of about $292 million in cash and $60 million of Teladoc common stock.