TLMD - TLMD STOCK NEWS

SOC Telemed, Inc. (NASDAQ: TLMD) has finalized its acquisition by Patient Square Capital in an all-cash deal valued at $3.00 per share of Class A common stock. Stockholder approval was granted on April 4, 2022, following an announcement made on February 3, 2022. With the acquisition's closure, SOC Telemed will transition to a private entity, enabling further investment in its telemedicine capabilities. Dr. Chris Gallagher remains CEO, expressing optimism about the company's future and potential growth under Patient Square Capital's guidance.

SOC Telemed, Inc. (NASDAQ: TLMD) announced that its stockholders approved the acquisition by Patient Square Capital during a special meeting on April 4, 2022. Upon transaction completion, which is expected soon, SOC Telemed will receive $3.00 per share in cash, and its stocks will no longer be publicly traded. Chairman Steve Shulman expressed gratitude to the stockholders, highlighting this milestone for SOC Telemed as it transitions to a private company. The final voting results will be provided in a Current Report on Form 8-K to be filed with the SEC.

SOC Telemed (NASDAQ: TLMD) reported a 93% increase in revenue for Q4 2021, totaling $28.0 million, and a 63% increase for the full year at $94.4 million. Bookings were also strong, with $7.8 million in Q4 (+100%) and $31.8 million for 2021 (+162%). The company announced a take-private acquisition by Patient Square Capital at $3 per share. Although Access Physicians contributed significantly, the company faced net losses of $(12.8) million in Q4 and $(50.5) million for the year. Total facilities serviced grew by 34%, showing operational growth.

SOC Telemed (NASDAQ: TLMD) announced its acquisition by Patient Square Capital, offering stockholders $3.00 per share, a premium of 366.1% over TLMD's closing price on February 2, 2022. The transaction, approved unanimously by the Board, aims to position SOC Telemed for growth as a private company. Approximately 39% of shareholders have agreed to vote in favor of the deal, which is expected to close in Q2 2022. SOC Telemed's CEO, Dr. Chris Gallagher, will continue leading the company post-acquisition. The deal includes a 30-day 'go-shop' period for alternative proposals.

SOC Telemed (NASDAQ: TLMD) reported impressive third-quarter results for 2021, with revenue soaring to $26.7 million, up 76% year-over-year. Bookings also surged by 247% to $9 million. The company undertook a significant restructuring, anticipating annual cost savings of $7-9 million starting in 2022, despite a net loss of $(10.6) million. TelePsychiatry services have rebounded, and consult volumes were up 76%. The financial outlook for 2021 has been revised upwards, forecasting revenue between $91.5 million and $93.5 million, reflecting strong operational momentum.

SOC Telemed, Inc. (NASDAQ: TLMD) has announced a corporate and financial update for Q3 2021, scheduled for November 12, 2021, before market open. The management team will host a conference call at 8:00 a.m. ET, accessible via domestic and international numbers or a webcast. SOC Telemed is the largest U.S. provider of acute care telemedicine solutions, offering a diverse range of services to healthcare organizations. The company has maintained The Joint Commission's Gold Seal of Approval since its inception, reflecting its commitment to quality care.

SOC Telemed (NASDAQ: TLMD) and Ob Hospitalist Group (OBHG) announced a collaboration to integrate OBHG's obstetric programs with SOC Telemed's maternal-fetal medicine (MFM) specialists. This partnership, launched at Hendrick Medical Center in Abilene, Texas, allows 24/7 onsite care and instant access to MFM consultations. This initiative addresses the national shortage of MFM specialists, supporting local providers and keeping 94% of at-risk pregnancies managed in local communities. The program aims to improve maternal healthcare outcomes while reducing unnecessary travel for patients.

SOC Telemed (NASDAQ: TLMD) announced the resignation of CFO Chris Knibb effective September 23, 2021. David Fletcher has been appointed as interim CFO during the search for a successor. Knibb will assist in the transition until December 31, 2021. The company reaffirmed its 2021 financial guidance, expecting GAAP Revenue between $90 million and $92 million, driven by COVID-19 pressures. Adjusted EBITDA is projected to be in the range of $(22 million) to $(25 million). These forward-looking statements reflect potential risks and uncertainties impacting actual results.

SOC Telemed (NASDAQ: TLMD), a leading provider of acute care telemedicine, announced an introductory conference call to introduce its new leadership, including CEO Chris Gallagher and Vice Chairman Joe Greskoviak. The call is scheduled for September 9, 2021, at 5 p.m. ET. Investors can join via dial-in numbers or by accessing the live audio webcast on the company's investor relations website. SOC Telemed delivers innovative telemedicine technology across various specialties, helping healthcare organizations enhance patient care and operational efficiency.