Fitbit may be grabbing the headlines today with its massive, $732 million initial public offering, but another digital health company — a real healthcare company, not a fitness player — also had some news on the IPO front.
Telehealth service provider Teladoc on Thursday priced its forthcoming IPO at $15-17 per share, for a maximum value of $136.85 million, according to an updated document filed with the Securities and Exchange Commission. The Purchase, N.Y., company with its operational base in Dallas will be offering 7 million shares to the public, plus options for underwriters to purchase 1.05 million additional shares within 30 days of the IPO.
Teladoc has not announced the date trading will start, but newly public companies typically have their IPO within a few days of announcing a price range. Shares will trade on the New York Stock Exchange under the ticker symbol “TDOC.”
Behavioral Health, Interoperability and eConsent: Meeting the Demands of CMS Final Rule Compliance
In a webinar on April 16 at 1pm ET, Aneesh Chopra will moderate a discussion with executives from DocuSign, Velatura, and behavioral health providers on eConsent, health information exchange and compliance with the CMS Final Rule on interoperability.
This filing is an amendment to the S-1 registration form Teladoc filed May 29. In that document, the 13-year-old company revealed a lot about its business, including the fact that Teladoc has never turned a profit, despite rapid growth of its customer base.
In the interim, competitor American Well sued Teladoc, claiming patent infringement. Teladoc has denied the accusations and actually has asked the U.S. Patent and Trademark Office to review whether several American Well patents are even valid.
Teladoc also has gone to court to fight the Texas Medical Board’s recent decision to restrict the practice of telemedicine in that state.
Photo: Flickr user 401(K) 2012
