Virtual Care Company b.well Connected Health Raises $32 Million in Funding

Walmart Health has entered into an agreement to acquire MeMD, a multi-specialty telehealth provider.

The financial terms of the acquisition were not disclosed.

According to the press note, this acquisition will, over the coming months, allow Walmart Health to provide access to virtual care across the nation, including urgent, behavioral, and primary care, complementing our in-person Walmart Health centers.

MeMD was founded in 2010 by Dr. John Shufeldt. The company also offers a comprehensive telehealth solution, providing on-demand, online care for common illnesses, injuries, and behavioral health issues to consumers and businesses nationwide.

“Telehealth offers a great opportunity to expand access and reach consumers where they are and complements our brick-and-mortar Walmart Health locations. Today people expect omnichannel access to care and adding telehealth to our Walmart Health care strategies allows us to provide in-person and digital care across our multiple assets and solutions,” said Dr. Cheryl Pegus, Executive Vice President, Health & Wellness.

Cheryl Pegus added: “Our Health & Wellness mission is to focus on the consumer’s seamless experience and improved health. We are excited to welcome MeMD employees to the Walmart family, and we are looking forward to together, accelerating health care access across the country.”

“We’ve achieved incredible strides in making healthcare available to individuals and businesses around the country through our easy, affordable, and intuitive online platform. We can’t imagine a better partner than Walmart as we are both committed to innovative healthcare delivery and bringing affordable, high-quality care to as many people as possible,” said MeMD Chief Executive Officer Bill Goodwin. “MeMD’s mission fits perfectly with Walmart’s dedicated focus to help people save money and live better, and now we can impact millions more by being part of Walmart.”

Sixty-three digital health companies were acquired in Q1 2021, compared to 52 M&A transactions in Q4 2020. Recently, Specialists On Call (dba SOC Telemed), a provider of acute care telemedicine solutions, announced that it had completed its acquisition of Access Physicians, a multi-specialty acute telemedicine provider, for approximately $194 million.