Teladoc Health Completes Merger with Livongo
October 30, 2020
Download this Press Release (PDF)
Combination Creates the Global Leader in Whole-Person Virtual Care
PURCHASE, NY, Oct. 30, 2020 (GLOBE NEWSWIRE) – Teladoc Health (NYSE: TDOC), the global leader in whole person virtual care, today announced that it has completed its merger with Livongo. The milestone marks completion of the most significant blending of capabilities and talent in the history of digital health. By joining the market leaders in virtual care and applied health signals, the combined company becomes the only consumer and healthcare provider partner to span a person’s entire health journey.
“Both Teladoc Health and Livongo were founded with the same mission: to create a new kind of healthcare experience, one that empowers people everywhere to live their healthiest life. Today’s news dramatically accelerates our ability to make this a reality for the tens of millions of consumers and healthcare professionals we serve around the world,” said Jason Gorevic, chief executive officer of Teladoc Health. “Together, our team will achieve the full promise of whole-person virtual care, leveraging our combined applied analytics, expert guidance and connected technology to deliver, enable and empower better health outcomes.”
The merger of Teladoc Health and Livongo was announced on August 5th and was completed in just under three months. Teladoc Health recently announced its go-forward leadership team and has announced early client wins driven by the pending combination.
Earlier this week, Teladoc Health reported strong third quarter results and continued confidence in sustained growth. The company expects to directly deliver more than 10 million virtual visits this year and has reported an additional three million enabled visits for its health system clients so far in 2020.
Under the terms of the merger, Livongo shareholders will receive 0.5920x shares of Teladoc Health plus cash of $11.33 for each Livongo share (including the special dividend declared by Livongo). Livongo common stock ceased trading prior to the open of trading today.