By Colin Kellaher
Teladoc Health has struck a deal to buy Catapult Health, a provider of virtual preventive-care services, for an initial $65 million in cash.
Teladoc on Wednesday said the deal for Catapult, which had trailing 12-month revenue of about $30 million, includes up to $5 million in an additional contingent earnout consideration.
Teladoc posted revenue of $1.93 billion for the first nine months of 2024.
The Purchase, N.Y., provider of telehealthcare services said it expects to complete the acquisition in the first quarter.
Teladoc said Catapult has hundreds of employer customers and more than 3 million covered lives. Analysts at Citi said they think Catapult will help serve as a "front door" to other Teladoc chronic-care-management services such as its diabetes, hypertension, pre-diabetes, weight-management and mental-health programs.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 05, 2025 08:00 ET (13:00 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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