Combination extends Teladoc's global market leadership, strengthening and expanding company's international footprint, breadth of medical services and physician network Patients and companies to benefit from a single, comprehensive solution that ...
- Combination extends Teladoc's global market leadership, strengthening and expanding company's international footprint, breadth of medical services and physician network
- Patients and companies to benefit from a single, comprehensive solution that addresses escalating healthcare costs and access barriers worldwide
PURCHASE, NY, June 04, 2018 (GLOBE NEWSWIRE) -- Teladoc, Inc. (NYSE:TDOC), the global leader in virtual care, announces today that, effective May 31, 2018, it has acquired Advance Medical, the leading virtual care provider outside of the United States. With a broadened international footprint and the ability to offer an expanded set of clinical services worldwide, the combination creates the only global comprehensive virtual care platform capable of serving companies and people everywhere.
With the addition of Advance Medical, Teladoc builds on its successful track record of acquiring and integrating companies with common purpose, complementary capabilities and access to new markets. Combining Advance Medical's suite of international clinical capabilities with Teladoc's technology and operational scale, the company is now uniquely equipped to meet the needs of U.S. multinational employers, for whom one third of all employees live abroad.
"Today we bring together two companies who, by consistently putting the consumer first, have proven the transformative power of offering full-spectrum virtual care solutions," said Jason Gorevic, CEO, Teladoc. "This acquisition advances our strategy to continually expand our product portfolio, as well as our operational footprint in attractive global markets."
As countries around the world face escalating healthcare cost and access challenges, Teladoc's ability to meet the most pressing care needs of members outside the United States significantly expands the company's total market opportunity. With the addition of Advance Medical's clinical and operational expertise in markets such as Latin America and Asia, where private health insurance growth rates are more than double that of the U.S., Teladoc is positioned to further accelerate the global adoption of virtual care.
"We share Teladoc's belief that a virtual care solution should be comprehensive in nature, and provide answers and outcomes for people regardless of their location or medical condition," said Carlos Nueno, co-founder, Advance Medical. "Our clients have increasingly demanded high-quality virtual care at scale, and now we have the ability to bring this meaningful change to the healthcare system."
"With the ability to harness the rapid pace of medical innovation, deliver an unsurpassed commitment to clinical quality, and maintain our unwavering patient-centric vision, there is no doubt we will have a profound consumer impact as we continue to expand access to high quality care," adds Marc Subirats, co-founder, Advance Medical.
Mr. Nueno and and Mr. Subirats will join the Teladoc executive team, continuing to lead the Advance Medical business outside the U.S.
For Additional Information:
About Advance Medical
Founded in 1999, Advance Medical is a worldwide leader in telemedicine and expert medical opinion services. Partnered with more than 300 large, multinational employers and insurers across Europe, Asia, Latin America and the U.S., Advance Medical has built an integrated portfolio of high quality telehealth and expert medical opinion solutions, including Global Care on Demand, and the Virtual Medical Home.
About Teladoc, Inc.
Teladoc, Inc. (NYSE:TDOC) is the global leader in virtual care. A mission-driven organization, Teladoc is successfully expanding access to high quality healthcare, lowering costs and improving outcomes around the world. The company's award winning, integrated clinical solutions are inclusive of telehealth, expert medical opinions, AI and analytics, and licensable platform services. With more than 2000 employees, the organization delivers care in 125 countries and in more than 20 languages, partnering with employers, hospital and health systems and insurers to transform care delivery. For more information, please visit www.teladoc.com or follow @Teladoc on Twitter.
ReviveHealth, a Weber Shandwick Company
Director of Communications, Teladoc
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Teladoc, Inc. via Globenewswire
Source(s) : Teladoc, Inc.
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