Healthcare DIVE February 21, 2024
The telehealth vendor is trimming expenses, but it could pursue deals with strategically or financially attractive companies.
Dive Brief:
- Teladoc Health is continuing to trim expenses in a bid to boost its bottom line, but the telehealth vendor could still look to make technology investments or pursue mergers and acquisitions, executives said on a Tuesday earnings call.
- The company posted a net loss of $220.4 million for 2023, compared with a loss of $13.7 billion in 2022, a period that included several hefty non-cash goodwill impairment charges. Revenue increased 8% year over year to $2.6 billion in 2023.
- Teladoc generated “strong” free cash flow last year, and expects to continue this year, CFO Mala Murthy said on...
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