Teladoc Purchases Global Telemedicine Provider for $352MM
Teladoc, Inc. (NYSE: TDOC), acquired Spain-based Advance Medical, a leading virtual care provider outside of the United States. Teladoc completed the acquisition of Advance Medical on May 31, 2018, for a purchase price of $352 million, which consisted of approximately $292 million in cash and $60 million of Teladoc’s common stock. Under the terms of the deal, the co-founders of Advance Medical, Marc Subirats and Carlos Nueno, are joining Teladoc’s executive team and will continue to lead the Advance Medical business outside the U.S.
Teladoc’s award-winning integrated clinical solutions include telemedicine, expert medical opinions, artificial intelligence and analytics, and licensable platform services. Teladoc has more than 2,000 employees delivering care in 125 countries in more than 20 languages.
Advance Medical is 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.
The acquisition broadens Teladoc’s international footprint enabling Teladoc to offer broader portfolio of clinical services worldwide. It creates the only global comprehensive virtual care platform capable of serving companies, including U.S. multinational employers and people throughout the world.
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