Teladoc
Teladoc reports a net loss of $1.31 per share, a total of $199.6 million.
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.
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2020 is shaping up to be a record-breaking year for digital health startups.
After news broke about the $18.5 million deal all eyes in the digital health world have been on Livongo and Teladoc.
The MobiHealthNews team breaks down the week's big digital health news: Teladoc's proposed $18 billion acquisition of Livongo.
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.