Teladoc acquires global virtual care provider, Advance Medical
Teladoc announced that effective May 31, 2018, it has acquired Advance Medical, a virtual care provider outside of the United States. With a broadened international footprint and the ability to offer an expanded set of clinical services worldwide, the combination creates a global comprehensive virtual care platform capable of serving companies and people everywhere.
With the addition of Advance Medical, Teladoc builds on its successful track record of acquiring and integrating companies with common purpose, complementary capabilities, and access to new markets. Combining Advance Medical’s suite of international clinical capabilities with Teladoc’s technology and operational scale, the company is now equipped to meet the needs of U.S. multinational employers, for whom one third of all employees live abroad.
As countries around the world face escalating healthcare cost and access challenges, Teladoc’s ability to meet the most pressing care needs of members outside the U.S. significantly expands the company’s total market opportunity. With the addition of Advance Medical’s clinical and operational expertise in markets such as Latin America and Asia, where private health insurance growth rates are more than double that of the U.S., Teladoc is positioned to further accelerate the global adoption of virtual care.
“We share Teladoc’s belief that a virtual care solution should be comprehensive in nature, and provide answers and outcomes for people regardless of their location or medical condition,” said Carlos Nueno, co-founder, Advance Medical. “Our clients have increasingly demanded high-quality virtual care at scale, and now we have the ability to bring this meaningful change to the healthcare system.”
“With the ability to harness the rapid pace of medical innovation, deliver an unsurpassed commitment to clinical quality, and maintain our unwavering patient-centric vision, there is no doubt we will have a profound consumer impact as we continue to expand access to high quality care,” adds Marc Subirats, co-founder, Advance Medical.
Mr. Nueno and Mr. Subirats will join the Teladoc executive team, continuing to lead the Advance Medical business outside the U.S.
