virtual care
While the company saw a 25% increase in revenue year-over-year it failed to meet earnings per share expectations.
The young service says that it has been seeing a marked increase in users over the past few months.
Alongside the purchase and service launch, the digital health company also shared news of a $57 million investment from Perceptive Advisors.
The in-person and virtual primary care provider has tripled its staff over the last few months.
Video visits with a licensed clinical psychologist will run California residents $69 for each 20 minutes.
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.
Optum was already a stakeholder in the New York company thanks to a "significant investment" it made early in 2019.
The raise will help SteadyMD further develop its technology platform and online services.
The funds will support expansion into new markets, as well as product launches and general scaling of its business.
The hefty price tag will allow Teladoc Health to deliver single, unified virtual care offering "across all sites of care."