MDLIVE, a telemedicine provider who has boosted its national profile through deals with the likes of Walgreens, is in the mood to shop. It received a $50 million investment from Bedford Funding, a private equity firm keen to increase its health tech portfolio, which includes Voalte.
In a statement, MD Live said the “funding will enable MDLIVE to continue its organic growth and expand its acquisition strategy and consumer reach…”
MDLIVE acquired teletherapy company Breakthtough Behavioral in the Fall last year. The move was part of a trend of telemedicine providers branching into specialty service. Psychiatric services are seen as a logical expansion, particularly for patients who would like to see a therapist but would prefer to do so from home.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Last year, MDLIVE kicked off a partnership with Walgreens. It also works with Cigna.
Telemedicine companies have been in the news quite a bit in tandem with the rising interests in their services. A report from market research firm Tractica projected that telehealth video consultation sessions will increase from about 20 million last year to 158.4 million per year by 2020. There’s also the impending public debut of Teladoc.
Photo: Flickr user Wolfgang Photo
