Teladoc Health (NYSE:TDOC) FY Conference December 02, 2025 12:30 PM ET Company ParticipantsChuck Divita - CEOConference Call ParticipantsJess Tassan - VP and Senior Research Analyst of Managed Care and Healthcare IT SectorJess TassanHi, everyone. Thanks for joining. My name's Jess Tassan. I cover managed care and healthcare IT at Piper. I'm really excited to be here with Chuck Divita, CEO of Teladoc. Teladoc is the global leader in digital or virtual care with a comprehensive platform of solutions for physi ...

智通财经APP获悉，DocGo(DCGO.US)周一宣布，已收购虚拟医疗平台SteadyMD。受此消息影响，该 公司股价在周二盘前交易中大幅飙涨，一度大涨48%，截至发稿，该股盘前上涨32.5%。 交易完成后，SteadyMD首席执行官兼联合创始人盖伊·弗里德曼(Guy Friedman)，以及首席运营官兼联 合创始人亚龙·戈伦(Yarone Goren)将加入DocGo的领导团队。 DocGo表示，将通过资产负债表上的现有现金为此次交易提供资金。 DocGo计划在即将发布的财报及电话会议中，更新2025年营收与调整后EBITDA指引，以纳入此次收购 交易的影响。该财报发布及电话会议预计将于11月初举行。 业绩预期方面，SteadyMD预计2025年将实现约2500万美元营收，2026年息税折旧摊销前利润(EBITDA) 有望转为正值。 ...

Core Viewpoint - Teladoc's acquisition strategy raises questions about its ability to establish a sustainable business model despite being a leader in the virtual healthcare sector, as it continues to face significant losses [2][3]. Part 01: Teladoc's Business Model - Teladoc positions itself as a "super platform" for virtual healthcare, connecting patients with doctors and offering a range of remote medical services [4]. - The majority of its revenue comes from bundled subscriptions through employers, insurance companies, and health plans rather than individual patients [6]. - Teladoc has diversified its service offerings, including mental health consultations and chronic disease management, to create a comprehensive virtual healthcare experience [8][9]. Part 02: Logic of Mergers and Acquisitions - Teladoc's growth has largely been driven by acquisitions, including small remote healthcare companies in the U.S. and Europe, and significant purchases like Livongo for $18.5 billion [11][12]. - While revenue has increased from $417 million in 2018 to $2.6 billion in 2023, profitability remains elusive due to high integration costs and operational expenses [13][14]. - The company's acquisition strategy has not resolved its fundamental issue of profitability, leading to skepticism about whether its approach is building a stable long-term model or merely propping up its market value [15]. Part 03: Industry Insights - The case of Teladoc illustrates that while mergers and acquisitions are common in digital healthcare, they do not guarantee a successful business model [18]. - The integration into payment systems and clinical workflows is more critical than technology alone, as demonstrated by Telecare's established presence in Australia's public healthcare system [19]. - The necessity of digital healthcare is clear, but its profitability remains uncertain, hinging on who ultimately bears the costs [20].