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Teladoc health The shares increased by almost 6% on Wednesday after the company announced that it acquires a preventive care company Catapult health In an in all basic agreement for $ 65 million.
Catapult offers a home well-being exam that allows members to check their blood pressure, collect a blood sample, record other screening information and practically meet a practitioner nurse. Teladoc, a virtual care platform, said the acquisition will help it improve its ability to detect health problems early.
The company said that Catapult will operate in its integrated care segment after the conclusion of the agreement. At the JPMorgan health conference In January, Teladoc said that he was actively working on the growth in membership and the use of services in its integrated care segment.
“Catapult Health’s capacities will help advance our strategy significantly – to give more members access to practical and impactful well -being and preventive care, to unlocking more value for our customers”, Teladoc CEO CHUCK Divita said in a statement.
Catapult generated about $ 30 million in twelve months in the third quarter of 2024, said Teladoc. Catapult covers around 3 million people while the Teladoc praises more than 93 million members.
“Uniting its forces with Teladoc Health will help us accelerate our impact and advance our common mission to empower healthy lives,” said Catapult CEO David Michel, in a press release.
The agreement should conclude in the first quarter of this year.
The acquisition of Catapult by Teladoc comes after a tumultuous period for the company. When Teladoc acquired Livongo in 2020, companies had a Combined corporate value of $ 37 billion. The stock has dropped since then and Teladoc market capitalization is now less than $ 2 billion.
In April, Teladoc announced the Sudden by Jason Gorevic, who joined the CEO position in 2009 and directed the company through the Livongo agreement and the COVVI-19 pandemic. Divita took over as managing director in June And is committed to positioning the company for “long -term sustainable success”.
The catapult agreement could also be a bell tower for more consolidation within the Battered digital health The sector, because companies had to adapt to a more deaf growth environment and focus on profitability. In January, the transcarent digital health startup, of which CEO Glen Tullman founded Livongo, announcement plans to take Hug private in an almost evaluated agreement $ 621 million.