Teladoc reached an agreement to acquire InTouch Health for $600 million, including $150 million in cash. The deal is expected to add roughly $80 million to Teladoc’s top line
Teladoc Health has announced another acquisition that will bolster its growing international line of business. The US virtual care company will acquire Paris, France-based MédecinDirect, which provides confidential medical consultations via phone and internet.
The terms of the acquisition were not disclosed, but Teladoc said “the acquisition will be immaterial to Teladoc Health’s financial results.”
Teladoc, Inc. (NYSE: TDOC), the nation’s first and largest telehealth provider, today announced the U.S. Patent and Trademark Office (USPTO) has invalidated the major elements of a telemedicine patent held by American Well Corporation on the basis that they were not patentable because American Well did not invent them. The USPTO took this action at the request of Teladoc. At issue before the USPTO were the same elements of the American Well patent that a Massachusetts federal court declared invalid earlier this year on a separate basis.
Even as Teladoc and American Well fight out their legal battle over patents, the two companies continue to duke it out in the marketplace as well, as does another challenger, Doctor on Demand. On Friday a Deutsche Bank analyst broke the news in a research note that Highmark, a health insurer in Western Pennsylvania, chose not renew contracts that represented $1.5 million in annual revenue for Teladoc, or 3.6 percent of Teladoc’s projected 2016 membership, according to the Wall Street Journal.