Fierce Healthcare July 30, 2020
Heather Landi

Acute care telemedicine company SOC Telemed plans to merge with Healthcare Merger Corp. in a “blank check” deal.

The deal, announced Wednesday, implies an initial enterprise value for SOC Telemed of approximately $720 million, according to the companies.

HCMC is a special purpose acquisition company (SPAC). Private companies will look to merge with a SPAC or blank check company as a nontraditional route to go public rather than a typical initial public offering.

Digital health company Hims & Hers also is exploring going public through a merger with a blank check acquisition company that could value it at more than $1 billion, Reuters reported, citing people familiar with the matter.

As a result of the deal, the combined company will...