Teladoc Health Inc. (NYSE: TDOC) saw its stock soar 5.02% in the pre-market session on Monday, building on last week's strong momentum after the company announced the acquisition of Catapult Health for $65 million.
The acquisition of Catapult Health, a leading provider of virtual healthcare services, is expected to bolster Teladoc's capabilities in early detection of health conditions, at-home diagnostic testing, and delivering improved health outcomes through its suite of integrated solutions.
Investors welcomed the strategic move, driving Teladoc's stock up 27.46% last week. Analysts at Citron Research highlighted the potential for the acquisition to enhance Teladoc's profitability and expand margins through effective use of technology. Subject to customary closing conditions, the transaction is expected to be completed in the first quarter of 2025.
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