Teladoc Health has agreed to acquire virtual preventive care provider Catapult Health for $65 million, including an additional $5 million in potential earnout payments, according to a press release. Originally launched as an on-site health checkup service for employers, Catapult shifted to virtual care in 2020, offering at-home diagnostic kits for blood tests, blood pressure readings, and other health and wellness screenings. The company serves hundreds of employers and reaches more than 3 million individuals. This acquisition expands Teladoc’s footprint in the virtual healthcare market.
Strategic connections: Catapult will become a wholly owned subsidiary of Teladoc, and patients will be directly connected to Teladoc’s chronic condition management programs for diabetes, hypertension, prediabetes and weight management programs. Teladoc also has newly established patient referral channels coming in through Amazon Health Services as of a month ago. The market reach could be substantial, potentially posing an unseen competitive threat to urgent care centers already providing wellness screenings or health management programs for employer groups.