Fierce Healthcare June 28, 2024
As Walmart shutters its primary care clinics, the retail giant inked a deal to sell its MeMD telehealth business to healthcare technology startup Fabric.
Fabric, formerly known as Florence, officially launched out of stealth in early 2023 and has rapidly built out its tech that automates clinical and administrative work in healthcare.
The deal will significantly expand Fabric’s reach in the employer market as MeMD provides virtual care services to 30,000 employers and 5 million employees, according to the companies. MeMD’s customer base is comprised of large employers, brokers, third-party administrators and distributors.
Financial details of the acquisition were not disclosed.
Fabric provides a telemedicine platform for health systems, employers and payers and has built a suite of products, from...
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