US-based virtual healthcare services provider Teladoc Health has agreed to acquire Catapult Health, a provider of virtual preventive health assessments, for $65m.
Catapult Health offers Virtual Preventive Care, Virtual Primary Care and VirtualCheckup services, about half the cost of a usual office-based checkup.
The company also provides annual health assessments according to patients’ own schedules.
The proposed acquisition is expected to be completed in the first quarter of this year, subject to customary closing conditions.
Upon closing of the deal, Catapult Health will operate within Teladoc’s Integrated Care business unit.
Teladoc Health CEO Chuck Divita said: “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.
“Catapult Health brings an experienced team and a strong culture of innovation, and we are thrilled to welcome them to Teladoc Health.”
Catapult Health CEO David Michel said: “For over a decade, we’ve been helping customers improve health outcomes and bend the cost curve. Joining forces with Teladoc Health will help us accelerate our impact and advance our shared mission to empower healthier lives.”
Teladoc said the proposed acquisition of Catapult Health will support its strategy for the integrated care segment, which focuses on four key objectives.
The objectives include increasing service memberships, enhancing healthcare outcomes, expanding international business, and advancing its scaled mental health position.
Through the acquisition, Teladoc aims to improve early detection of health conditions, connect its members with high-quality care and deliver better health outcomes.
The company will use Catapult Health’s approach to patient-centric at-home diagnostic testing and its clinical support model to complement its suite of integrated solutions.
Also, it will also use Catapult’s technology to support new product enhancements, such as lab-confirmed A1c values and close gaps in care.
