Healthcare startup Fabric buys Walmart's telehealth business
Fierce Healthcare
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Summary
Healthcare technology startup Fabric has acquired Walmart's telehealth business, MeMD, as Walmart closes its primary care clinics. This acquisition significantly expands Fabric's reach in the employer market, enhancing its virtual care platform and incorporating MeMD's network of 30,000 employers and 5 million employees. Fabric will leverage its advanced AI and automation technologies to improve operational efficiency and patient experience across both virtual and in-person care settings. The deal also includes MeMD's clinicians, enriching Fabric's clinical capacity and adding virtual behavioral health services. Financial details were not disclosed, but the acquisition aligns with Fabric's strategy to integrate and enhance its telehealth services amidst shifts in the virtual care market.
