As Walmart Closes Clinics, Buyer Emerges For Its Telehealth Business

telehealth operation, said Friday that the healthcare technology Fabric would acquire MeMD from Walmart . MeMD was acquired by Walmart in 2021 and rebranded Walmart Health Virtual Care. Walmart Health Virtual Care.

“MeMD is a leading provider of virtual behavioral, urgent, and primary care benefits for 30,000 corporate, institutional, and health plan partners and 5 million members,” the companies said Friday in announcing the acquisition. “This acquisition advances Fabric’s employer strategy and marks a significant milestone in the team’s mission to power boundless, high-quality care for consumers across the nation.

Financial terms of the acquisition were not disclosed. The deal is expected to close in mid-July, the companies said. Fabric said its “artificial intelligence-powered intelligence, seamless journey automation, and a robust network of behavioral health and medical providers” position the company for success as a virtual platform and clinical network for medical care providers, health insurers and employers. Some of Fabric’s customers include Luminis Health, OSF HealthCare, Highmark Health and Intermountain Health.

“We are pleased MeMD will continue delivering excellent care to virtual-first patients across the country in its next chapter within Fabric,” saidThese Are The Likely Democratic Presidential Candidates If Biden Drops Out—As Rough Debate Prompts Calls To Stand DownFor its part, Fabric executives said they will use their “async technology to improve efficiency within MeMD's offering, decreasing the cost of care for members nationwide.

Source: News Formal (newsformal.com)

Health Clinics Telehealth Memd Fabric

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