Teladoc Health announced Jan. 12 that it has entered a definitive agreement to acquire telehealth provider InTouch Health, according to a news release.
The purchase price of $600 million includes round $150 million in cash and $450 million of Teladoc common stock. Teladoc expects the deal to close by the end of the second quarter.
InTouch Health provides services to more than 450 hospitals and health systems, with more than 14,500 physicians using its technology. The company anticipates generating 2019 revenues of $80 million, a 35 percent increase year over year.
Teladoc will update its full-year 2020 financial outlook and guidance after the transaction is complete.
"Today marks a bold leap forward in Teladoc Health's mission to transform how high-quality healthcare is accessed and experienced, making virtual care available for patients with even the most critical care needs," said Jason Gorevic, CEO of Teladoc. "Bringing these companies together will make Teladoc Health the clear virtual care leader across every front door of healthcare, further accelerating the adoption and impact of virtual care for millions of people around the world."