Teladoc Health
The virtual care company disclosed all-time-high revenue and membership growth during 2020, yet offered 2021 projections below what investors anticipated.
In a J P. Morgan virtual talk, CEO Jason Gorevic said the programs have either already kicked off or will be launching later this year.
While the virtual care company maintains its momentum through the pandemic and Livongo merger, it also reported higher-than-expected losses during the quarter.
Also: Livongo leverages Teladoc Health's connections for new business with Florida Blue; Amwell and Tyto Care reinforce partnership with "exclusive integrations."
Each Livongo share will be converted Teladoc stock at a 0.5920 exchange rate, plus an additional $11.44 in cash per stock.
Although the company's rapid growth has been fueled by COVID-19, new contracts and state-by-state trends have CEO Jason Gorevic confident that telehealth adoption is here to stay.
The company fielded a major spike in demand and now paints a rosy long-term picture for its telehealth business, although its poor EPS disappointed some investors.
Also: Welltok expands to Latin America with insurer partnership; Kyruus and GYANT combine their offerings for health system clients.
During its latest earnings call, the remote care company highlighted its new offerings for enterprise customers and discussed how it's been preparing for an increase in infectious disease cases.
The hefty price tag will allow Teladoc Health to deliver single, unified virtual care offering "across all sites of care."