Teladoc Buys Livongo – Major Telemedicine Acquisition Consolidation

By | August 5, 2020
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Teladoc Health Wednesday announced it would acquire highflying telehealth rival Livongo

From Chicago Tribune

Telemedicine involves care delivered remotely, often with a live video connection through patient smartphones or tablets. Millions of patients were forced to try it for everything from routine care to checkups with specialists after COVID-19 shut down much of the economy earlier this year.

Teladoc said late last month that its total visits tripled in the recently completed second quarter to 2.8 million, and revenue grew 85%. The company also said it expects gains to spill over into 2021, when it projects revenue growth of between 30% and 40%.

Read full story from Chicago Tribune

TDOC Stock: Nearly $159 For Each Livongo Share

Teladoc Health will pay 0.592 share plus $11.33 for each Livongo share. That’s worth $158.99 a share, or $18.5 billion, based on Teladoc stock’s closing price Tuesday. It’s a 10% premium over Livongo stock’s record closing price of 144.53 on Tuesday. article