Teladoc Health
Teladoc says the acquisition will help the company better serve a broader population of people who need virtual mental health care.
The alliances will allow Teladoc Health’s care providers and coaches to view members’ eligibility and refer them to appropriate partner programs.
The deal includes an additional $5 million that could be paid to Catapult based on its performance after the sale.
The alliance will allow Amazon customers to benefit from Teladoc's cardiometabolic programs.
The company's chief financial officer, Mala Murthy, will step in as acting CEO.
The New York-based company reported a 10% increase in revenue, boosted by an 18% gain from BetterHelp to $292.4 million.
The expanded partnership allows clinical documentation from virtual care visits to be automatically generated using Microsoft's AI capabilities, including GPT4.
Initially filed in 2022, the complaint alleged the company's representatives misled investors following its $18.5 billion acquisition of Livongo.
Employers will have access to Teladoc's virtual primary care services through HealthJoy's care navigation platform.
The virtual care company reported a net loss of $69.2 million and revenue of $629.2 million, an 11% increase from the first quarter last year.