New York-based virtual care company Teladoc Health has acquired Telecare, which offers virtual care services in Australia.
Telecare touts that its network consists of more than 200 specialists in over 30 specialties, including cardiologists, psychiatrists, dermatologists, dieticians, endocrinologists, hematologists, gastroenterologists, infectious diseases and more.
Teladoc had a presence in Australia before the acquisition, providing virtual health services through insurers and hospitals, including a virtual neonatology solution at the Mater Misericordiae University Hospital, and a virtual telesurgery support system with Central Queensland Hospital and Health Service.
"We believe joining forces with Telecare will help us advance our mission – especially for those in regional and remote areas – by combining our technological solutions and services to support one of the leading health markets around the world," Carlos Nueno, president of international at Teladoc Health, said in a statement.
The Australian company will continue operating under the Telecare brand, and its existing founders and management team will continue to lead the company.
The acquisition closed Aug. 8, and the financial terms of the agreement were not disclosed. Teladoc said in a statement that it expects the acquisition to be immaterial to its financial results for 2025.
THE LARGER TREND
Last month, Teladoc posted second-quarter revenue of $631.9 million, down 2% from $642.4 million in the same period last year.
The company narrowed its Q2 2025 net loss to $32.7 million from a $837.7 million net loss for Q2 2024.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 23% year-over-year to $69.3 million in Q2 2025 from $89.4 million in Q2 2024.
Additionally, $550.6 million was paid using cash on hand to retire convertible seniors notes due in the second quarter of this year.
The company said in a statement that it entered into a credit agreement that provided for a five-year, $300 million senior secured revolving credit facility to preserve and enhance its financial and operational flexibility.
In February, the company reported its 2024 earnings, citing a net loss of $1 billion, or $5.87 per share, for the whole year, causing its stock price to fall around 15%. Its net loss in 2023 was $220 million.
Teladoc's stock [NYSE: TDOC] closed down today at $7.49 per share.
