Virtual care company Teladoc may be facing another class action lawsuit filed on behalf of Teladoc investors who claim the company made false or misleading statements and failed to disclose that it continued to increase marketing spending, particularly regarding its mental health offering BetterHelp.
The lawsuit, Stary v. Teladoc Health, Inc. et al., was filed on May 17 in the U.S. District...
Virtual care company Teladoc reported $646.1 million in revenue in the first quarter of 2024, a 3% increase from $629.2 million in Q1 2023.
Its revenue from Teladoc Health Integrated Care increased to $377.1 million in Q1 2024, an 8% increase year-over-year, and BetterHelp revenue decreased 4% to $269 million.
The company posted an adjusted EBITDA of $63.1 million, a 20% year-over-year increase...
Jason Gorevic, CEO and board member of telehealth platform Teladoc Health, is stepping down after 15 years leading the company, and Mala Murthy, the company's chief financial officer, is stepping in as acting CEO.
Gorevic's departure, effective immediately, comes after the company's stock plummeted 22% in February. It missed fourth-quarter earnings estimates and projected 2024 revenue to be...
Teladoc Health stock rose Tuesday after the virtual care company reported a 10% increase in revenue year-over-year to $652.4 million from $592.4 million in the prior year.
For Teladoc Health's Integrated Care segment, revenue increased 5% year-over-year to $360.1 million, and for BetterHelp it increased 18% to $292.4 million in Q2 2023.
Revenue in the U.S. rose 8% to $561.8 million, while...
Telehealth platform Teladoc Health is expanding its collaboration with Microsoft to integrate the tech giant's AI solutions into its platform, allowing providers to automate clinical documentation creation during virtual exams.
The virtual care company will integrate Microsoft Azure OpenAI Service, Azure Cognitive Services, and conversational and ambient clinical documentation solution Nuance...
A federal judge dismissed a securities class-action lawsuit filed against virtual care company Teladoc Health pertaining to its $18.5 billion merger with chronic care company Livongo.
The complaint, originally filed by shareholder Jeremy Schneider in 2022 on behalf of parties that purchased Teladoc shares between Feb. 2021 and July 2022, alleged the virtual care company's representatives misled...
Teladoc Health is laying off about 300 employees, or about 6% of the virtual care company's non-clinician workforce.
The job cuts are part of a larger restructuring plan to reduce operating costs. In a filing with the Securities and Exchange Commission, Teladoc said it was also reducing its office space footprint in some markets.
In a letter to staff, CEO Jason Gorevic said the company was...
Teladoc Health posted a $3 billion net loss during the second quarter, bringing its losses for the year so far to nearly $10 billion.
By comparison, the virtual care giant recorded a loss of $133.8 million in the second quarter of 2021. Teladoc also reported another noncash goodwill impairment charge of $3 billion in Q2, following a $6.6 billion charge related to its Livongo acquisition reported...
Virtual care company Teladoc Health announced last week it's expanding its primary care program, Primary360, with same-day medication delivery and at-home lab collection.
The new services come via partnerships with digital pharmacy Capsule and Scarlet Health, a division of BioReference Laboratories that offers specimen collection and delivery. It will also add in-network referrals to its primary...
Teladoc Health is facing a class action lawsuit alleging the virtual care company misled investors about its business and financial prospects.
The suit, filed yesterday in the Southern District of New York on behalf of defendants who purchased Teladoc shares between October and April, names the company as well as CEO Jason Gorevic and CFO Mala Murthy.
It alleges they made misleading statements or...
