What You Should Know:
– Fabric, a healthcare technology company focused on care enablement, announced today the acquisition of MeMD from Walmart Inc. (NYSE: WMT). MeMD is a recognized leader in virtual healthcare, offering behavioral, urgent, and primary care services to millions of individuals.
– This strategic acquisition positions Fabric to be a major player in the virtual healthcare landscape. By combining Fabric’s care enablement platform with MeMD’s established virtual care services, the company is well-positioned to empower employers to offer comprehensive healthcare solutions and improve access to high-quality care for millions of individuals nationwide.
A Strategic Move for Employer-Sponsored Care
This acquisition marks a significant step forward for Fabric:
- Expanding Employer Solutions: MeMD’s established network of 30,000 employer, institutional, and health plan partners expands Fabric’s reach in the employer-sponsored healthcare market.
- Advancing Behavioral Health Strategy: The acquisition strengthens Fabric’s ability to deliver comprehensive care solutions, including a robust offering in behavioral health services.
Building on a Foundation of Virtual Care Excellence
MeMD, founded in 2010 and acquired by Walmart in 2021, is a well-respected name in virtual care. Key factors contributing to the success of the acquisition include:
- Trusted Virtual Care Provider: MeMD boasts a proven track record of delivering high-quality virtual medical and behavioral health services to millions of members nationwide.
- 24/7 Availability: The MeMD platform provides convenient access to care, with services available 24/7/365.
- Continued Growth and Expertise: Under Walmart’s ownership, MeMD experienced significant growth and expansion, bringing valuable expertise to Fabric.
- Pre-existing Technology Partnership: Fabric and MeMD previously collaborated on technology solutions, streamlining patient intake and documentation processes. This existing partnership lays a strong foundation for seamless integration.
Benefits for Employers and Patients
The acquisition offers several advantages for both employers and patients:
- Enhanced Efficiency: Fabric’s industry-leading automation and clinical intelligence will be leveraged to optimize MeMD’s services, potentially reducing healthcare costs for employers and employees.
- Unwavering Commitment to Quality: Fabric prioritizes high-quality care and patient satisfaction. MeMD’s team of experienced healthcare professionals will seamlessly integrate into Fabric’s network, ensuring continuity of care and exceptional service.
“The MeMD team built a leading virtual care offering, and we are excited to welcome them to Fabric,” said Aniq Rahman, founder and CEO of Fabric. “This acquisition aligns with our strategic vision to transform healthcare delivery through innovative technology and exceptional patient care. The combination of our teams, technology, and clinicians strategically positions Fabric to quickly expand across payers, employers, and provider organizations.”