What You Should Know:
– Teladoc Health (NYSE: TDOC) today announced the acquisition of Catapult Health, a provider of virtual preventive care service in an all-cash transaction for $65M, with up to $5M in additional contingent earnout consideration. Catapult Health’s trailing twelve-month revenue was approximately $30M as of the third quarter of 2024.
– The strategic move strengthens Teladoc Health’s comprehensive suite of integrated solutions and expands its capabilities in early detection and care management for its over 93 million members.
Acquisition to Enhance Early Detection and Care Management
Catapult Health’s approach to preventive care complements Teladoc Health’s existing offerings. The company’s VirtualCheckup provides members with a convenient and comprehensive at-home wellness exam, including:
- At-home diagnostic testing: A simple kit for collecting blood samples, checking blood pressure, and providing other health screening information.
- Virtual consultation: A follow-up virtual visit with a licensed nurse practitioner to discuss test results, review health risks, and create a personalized health action plan.
- Seamless integration with Teladoc Health services: Eligible members can be directly enrolled in Teladoc Health’s diabetes, hypertension, prediabetes, and weight management programs, and referred to virtual mental health therapists and primary care providers.
“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 Chuck Divita, Chief Executive Officer of Teladoc Health. “Catapult Health brings an experienced team and a strong culture of innovation, and we are thrilled to welcome them to Teladoc Health.”
Following the closing of the acquisition, Catapult Health will operate within the Integrated Care segment of Teladoc Health. The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions.