Teladoc Health announced its acquisition of Catapult Health for $65 million in cash, a strategic move aimed at enhancing its virtual care offerings. Catapult Health, known for its at-home wellness exams, will bolster Teladoc's capabilities in early detection of health conditions, aligning with the company's integrated care strategy. This acquisition is expected to expand Teladoc's reach by providing more members access to preventive care services, thereby improving health outcomes and delivering greater value to customers. "Catapult Health's capabilities will help advance our strategy in meaningful ways — from giving more members access to convenient and impactful wellness and preventative care, to unlocking greater value for our customers," said Teladoc CEO Chuck Divita.
The acquisition comes at a time when Teladoc is focusing on growing its membership and service usage within its integrated care segment, as discussed at the J.P. Morgan Healthcare Conference. Catapult Health, with its innovative VirtualCheckup service, will operate within this segment, offering Teladoc's 93 million members enhanced access to diagnostic testing and clinical support. The deal is expected to close in the first quarter of 2025, subject to customary closing conditions.
Teladoc Health's stock is trading at $11.065, up 6.39% from its previous close of $10.4 on February 4th.