Teladoc, a provider of virtual doctor visits, has agreed to acquire digital health company Livongo, in a cash and stock deal that values Livongo at $18.5 billion.
According to Piper Sandler, the combination gives the companies a joint enterprise value of about $37 billion.
Teladoc said last week that patients’ visits in the second quarter surged 203 percent from a year earlier.
Livongo, a provider of coaching services that help people manage chronic conditions, falls in the category of remote health management, which is also seeing soaring demand during the pandemic.
The companies said the merger will help people everywhere get “high quality, personalized, technology-enabled longitudinal care that improves outcomes and lowers costs across the full spectrum of health.”
Teladoc CEO Jason Gorevic will run the company and the board will consist of eight directors from Teladoc and five from Livongo.
