Thursday, June 30, 2016

Teladoc Acquires HealthiestYou For $80M

Lewisville, Texas-based telemedicine provider Teladoc announced this morning that it has acquried HealthiestYou, a developer of mobile, patient engagement tools, in a deal worth approximately $80M, split between $45M in cash and 6.96 million shares of Teladoc's common stock. Teladoc said that HealthiestYou had revenues of $10M in 2015, and approximately $8M in revenues for the first six months of 2016. Teladoc was advised by Piper Jaffray in the deal, and HealthiestYou was advised by William Blair & Co; Teladoc said it is funding the acquisition entirely with a recently expanded bank facility.