Healthcare Innovation April 29, 2024
First-quarter revenues at the direct-to-consumer behavioral health division fell 4% from early 2023 and Q2 is expected to be worse. Leaders are looking to markets beyond the U.S. to drive a turnaround.
Teladoc Health Inc. Interim CEO Mala Murthy is counting on international markets to reverse a troubling trend for BetterHelp, the virtual health company’s direct-to-consumer behavioral services group.
Speaking to analysts after New York-based Teladoc reported its first-quarter results—a net loss of nearly $82 million, nearly $13 million worse than in the first months of 2023, on revenue of $646 million—Murthy said BetterHelp’s first-quarter revenues slipped 4% to $269 million as the number of people paying for its services fell 11% from a year ago. The unit’s adjusted EBITDA...
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