| June 19
June 19 Teladoc Inc, the largest
provider of telemedicine in the United States, said on Monday it
agreed to acquire medical consultation company Best Doctors to
expand its ability to offer remote treatments for complex,
As part of agreement, Teladoc will purchase Best Doctors for
$375 million in cash and $65 million in Teladoc stock.
"The combination of the two companies will create a very
powerful single resource for customers to go to whether they are
experiencing flu symptoms or a critical life threatening
illness," Jason Gorevic, Teladoc's chief executive officer, told
Reuters in an interview.
In recent years, telemedicine has overcome key hurdles as
state governments created new regulatory frameworks to ease its
adoption and insurers began to see it as a way to hold down
Teladoc, which completed its initial public offering in
2015, is the largest player in the telemedicine space, with
about 75 percent of market share.
Boston-based Best Doctors Inc brings together a network of
about 50,000 doctors and medical experts and combines it with
data analytics in an effort to help solve particularly complex,
life-threatening medical cases.
By combining the two companies, Gorevic said Teladoc hopes
to accelerate Best Doctors' growth by selling its services into
its existing relationships with employer health plans.
It should also benefit from Best Doctors' strong
relationships internationally, which could help Teladoc expand
beyond the United States, he added.
(Reporting by Carl O'Donnell in New York, editing by G Crosse)