Healthcare DIVE April 26, 2024
The virtual care giant’s earnings were dragged by flagging growth in its BetterHelp segment, which suffered an 11% drop in paying users year over year.
Dive Brief:
- Teladoc Health reported mixed first-quarter results Thursday, with earnings dragged down by lagging growth in its direct-to-consumer mental health business BetterHelp.
- BetterHelp revenue declined 4% year over year, as the virtual care giant struggled to retain paying users. Still, Teladoc beat Wall Street expectations on revenue of $646 million and a net loss of $82 million.
- The virtual care giant said it expects to appoint a new chief executive by the end of the year, after announcing the abrupt departure of long-time CEO Jason Gorevic earlier this month.
Dive Insight:
Teladoc...
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