Teladoc Health will buy at-home testing company Catapult Health for $65 million in cash as it aims to grow its business around care for chronic diseases, the company announced Wednesday.
Teladoc is a multibillion-dollar virtual care business that’s been gradually readjusting to slower growth after the pandemic fueled broad adoption of its services. Today, 93 million people are eligible for one of its virtual care services through employers and health plans, but the company doesn’t have a lot of room to add new members from there. So one of Teladoc’s key strategies for the last few years has been to get people who are eligible for one of its services to use them and to enroll them in more than one program. In particular, Teladoc wants to get people who are eligible for its popular virtual urgent care services into its programs for chronic conditions like diabetes, hypertension, and weight management.
Enter Catapult, which offers an “at-home wellness exam” kit that allows a person to take their blood pressure and collect a blood sample and mail it to a lab for testing, after which they meet virtually with a nurse practitioner to discuss the results. The company markets itself as a covered benefit to health plans and employers that want to make testing available to their members.
This article is exclusive to STAT+ subscribers
Unlock this article — and get additional analysis of the technologies disrupting health care — by subscribing to STAT+.
Already have an account? Log in