|Traded as||NYSE: TDOC|
Russell 2000 Index component
|Headquarters||Purchase, New York, United States|
|Jason Gorevic, CEO|
|Revenue||US$$233.3 million (2017)|
Teladoc, Inc. (formerly Teladoc Medical Services) is a telemedicine company that uses telephone and videoconferencing technology to provide on-demand remote medical care via mobile devices, Internet, video and telephone. The company had its initial public offering on July 1, 2015.
The company is a global telehealth preferred provider organization facilitating virtual or "remote house calls by primary care doctors". Teladoc operates 24 hours a day, 365 days a year, by web, phone, or mobile app in 48 of the 50 states.
Teladoc is the oldest and largest telemedicine company in the United States. It was founded in 2002, in Dallas, Texas, by Dr. G Byron Brooks, a former NASA engineer and flight surgeon, and entrepreneur Michael Gorton. Teladoc launched nationally, in 2005, at the Consumer Directed Health Care Conference, in Chicago, Illinois. By the end of 2007, it had attracted about a million members, including large employers who provided its services to their employees as a health benefit. Jason Gorevic was named CEO in 2009 and is a company director.
As of 2015, Teladoc was the only telemedicine company to be publicly traded on the New York Stock Exchange. In December 2016, the American Hospital Association exclusively endorsed Teladoc's telehealth technology platform.
In December 2018, Teladoc's then CFO and COO, Mark Hirschhorn, had had an extra-marital affair with younger subbordinate, Charece Griffen. He was alleged to have passed tips to her about when to sell Teladoc company stock. Hirschhorn sold over $20,000,000 in company stock during and after the alleged affair. Several law firms launched investigations of potential securities law violations and the stock fell roughly 20% in the days following the report. Hirschhorn resigned as CFO and COO, effective on January 1, 2019, due to the misconduct.
On the eve of its July 1 IPO, the company was billed as the first and largest telehealth platform in the United States. The number of visits facilitated in 2014 was 299,000. By 2016, its visit count had grown to 952,000.
The company had 8.1 million members in 2014 and 10.6 by the end of the first quarter of 2015. By the end of the first quarter of 2015, the company had 4000 clients including 160 of the Fortune 1000 companies. Two years later, the company had 7500 clients, including 220 Fortune 1000 companies. Teladoc has over 20 million members, a 10-minute median doctor response time, 95% member satisfaction; 92% of issues are resolved after the first visit. 
Teladoc's private funding rounds included $9 million in December 2009, $4 million in January 2011, $18.6 million in September 2011, $15 million in September 2013, and $50 million in September 2014. On April 29, 2015, the company submitted preliminary confidential IPO paperwork, and, on May 29, 2015, it publicly filed for its IPO. On July 1, 2015, the company went public with a New York Stock Exchange-listed IPO at $19 per share, which gave the company a market capitalization of $758 million and an enterprise value of $620 million. The initial response to the IPO was positive, as shares surged 50 percent on the opening day, and closed at $28.50, after opening at $29.90 and trading as high as $31.90.
The company acquired Consult A Doctor for $16.6 million cash in August 2013; AmeriDoc for $17.2 million in May 2014; and BetterHelp for $3.5 million in cash and a $1.0 million promissory note, in January 2015. In June 2016, Teladoc acquired HealthiestYou, for $45 million in cash and 6.96 million shares of Teladoc's common stock. In 2017, the company purchased Stat Health Services, Inc., operators of StatDoc, for $30.1 million;[unreliable source?] and Best Doctors, Inc., a provider of medical second opinions and pay-to-play medical award listings. On February 28, 2019, non-profit group ProPublica released a report critical of companies like subsidiary Best Doctors that sell physician awards, including "Best Doctors" awards.
In 2018, Teladoc acquired Advance Medical (AvanceMD) for $352 million, a telemedicine company which has locations in Chile, Spain, and parts of Asia. It runs a virtual doctor service, called Global Care on Demand, which offers access to medical advice by phone or video by doctors located in eight main hubs around the world, speaking more than 20 languages, and is targeted at expatriates.
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