HealthiestYou Acquired by Teladoc for $155 Million
As we noted earlier this year in our blog post summarizing key takeaways from the 2016 HIMSS conference, the gap between how consumers want to interact with healthcare providers and the tools currently available to them is wide. And that gap represents a huge opportunity, both for innovators and investors in the healthcare information technology space. Our investment last year in HealthiestYou, a leader in telehealth consumer engagement, represented an opportunity to help bridge this gap, providing consumers improved access to quality care at affordable costs.
With Frontier’s support, HealthiestYou continued to rapidly expand its footprint while driving industry-leading utilization, which ultimately caught the attention of Teladoc Inc. (NYSE: TDOC), the first and largest telehealth platform in the U.S.
Last week, Teladoc completed the acquisition of Frontier portfolio company HealthiestYou in a transaction that will help expand the delivery of convenient and affordable healthcare by combining HealthiestYou’s strength in innovative consumer engagement tools and Teladoc’s extensive physician network and highly scalable infrastructure. Teladoc’s acquisition is by no means the end of Frontier’s involvement with Jim Prendergast and the team at HealthiestYou. In fact, as part of the agreement, Frontier Capital will become one of the largest shareholders in the nation’s largest telehealth company. Our continuing role speaks volumes not only about our confidence in the strong value proposition created by the combination of HealthiestYou and Teladoc, but about our belief in the opportunities for pioneers who can deliver innovative solutions that enable healthcare consumers to engage with their providers in a more effective, convenient, and cost-efficient manner.
For more details on how the HealthiestYou acquisition will extend Teladoc’s already substantial leadership position in the telehealth industry, please click here to read Teladoc’s official announcement.