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Teradoc health The shares rose 6% on Wednesday after the company announced that it will acquire the Catapult Health Preventive Care Company in an cash agreement for $ 65 million.
Catapult offers a home welfare exam that allows members to verify their blood pressure, collect a blood sample, record other detection information and meet virtually with a practicing nurse. Teladoc, a virtual care platform, said that acquisition will help you improve its ability to detect early health conditions.
The company said Catapult will operate within its integrated care segment after the agreement is closed. At the JPMorgan Medical Care Conference In January, Feladoc said he is actively working to grow membership and the use of services within its integrated care segment.
“Catapult Health's capabilities will help advance our strategy significantly, from giving more members access to convenient and impressive well -being and preventive attention, until it unlocks greater value for our clients,” said CEO of Teradoc, Chuck Divita, in a statement.
Catapult generated around $ 30 million in final revenues of twelve months from the third quarter of 2024, said Teladoc. Catapult covers around 3 million people, while Teladoc promotes more than 93 million members.
“Uniting forces with Teladoc Health will help us accelerate our impact and advance our shared mission to train healthier lives,” said CA's CEO, David Michel, in a statement.
The agreement is expected to close in the first quarter of this year.
Catapult's acquisition by Celadoc occurs after a tumultuous period for the company. When Teladoc acquired Livongo in 2020, companies had a combined business value of $ 37 billion. The action has fallen since then, and the Celadoc market capitalization now has less than $ 2 billion.
In April, Teladoc announced the sudden game of Jason Gorevic, who joined CEO in 2009 and led the company through the Livongo Agreement and the Covid-19 pandemic. Divita assumed the position of executive director in June and promised to position the company for “sustainable long -term success.”
The Catapult agreement could also be a vote for greater consolidation within the abused digital health sector, since companies have had to adapt to a more off environment and focus on profitability. In January, the Digital Health Startup Transcarent, whose CEO Glen Tullman founded Livongo, announced plans to take recognition in private in an agreement valued at approximately $ 621 million.
