Teladoc and Livongo merge into $37 billion remote-health company as coronavirus keeps patients home

  • 📰 CNBC
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Telehealth has been one of the massive growth stories of the Covid-19 era, as patients avoid clinics and hospitals where they risk exposure to the coronavirus. The Teladoc-Livongo deal is the third-largest in the U.S. this year.

Livongo, a provider of coaching services that help people manage chronic conditions, falls in the category of remote health management, which is also seeing soaring demand during the pandemic. The companies said in Wednesday's press release that the merger will help people everywhere get "high quality, personalized, technology-enabled longitudinal care that improves outcomes and lowers costs across the full spectrum of health.

But as of Tuesday's close, Teladoc had tripled in value this year and Livongo was up almost six-fold."Stock prices have gotten so high with these tech companies and Covid-19 plays that they're going to use their stock as currency to make acquisitions like this," said Jake Dollarhide, CEO of Longbow Asset Management. Teladoc, which Dollarhide owns in his portfolio, "is really getting a nice boost to diabetes and mental health services with Livongo," he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Why is the valuation this high? If the first two quarters of 2020 has taught us anything it is that the healthcare industry is just as corrupt as the Soviet Union

worksmart smart Management GrowthMindset Growth

You can get the same health advice on WebMD for free. This valuation is a joke.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'We Have Made Mistakes': Norway Cruise Company Reports COVID-19 OutbreakHealth officials worry the ship may have spread the coronavirus along Norway's coastline, according to reports. Well, how could you or anyone possibly have known in advance? Oh, wait! 😡 & this is news!!! It’s all about the almighty$$$$$$$!!! tomwlsn31 😳😳😳
Source: NPRHealth - 🏆 144. / 63 Read more »