Healthcare DIVE August 1, 2024
During a second-quarter earnings call Wednesday, new CEO Chuck Divita said the virtual care company is “not yet delivering on its fullest potential.”
Dive Brief:
- Teladoc Health withdrew its financial outlook for the full year 2024 on Wednesday as the virtual care vendor faces declining profits in its direct-to-consumer mental health business BetterHelp.
- The company’s net loss swelled to $837.7 million in the second quarter compared to a loss of $65.2 million during the same period last year. The hit was inflated by a $790 million goodwill impairment charge linked to the worsening performance at BetterHelp.
- Teladoc is evaluating its strategic direction and product offerings, as well as “streamlining” the organization, according to new CEO Chuck Divita. “This...
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