Walmart Health To Acquire Telehealth Provider MeMD

Rhea-AI Summary

Walmart Health has announced an agreement to acquire MeMD, a telehealth provider, enhancing its commitment to integrated health delivery. This acquisition will enable Walmart Health to offer virtual care nationwide across urgent, behavioral, and primary care sectors, complementing its in-person services. The deal is expected to lower overall healthcare costs and improve health equity. The acquisition is pending regulatory approval and aims to accelerate healthcare access.

Positive

• Acquisition of MeMD enhances Walmart's telehealth capabilities.
• Provides access to virtual care across urgent, behavioral, and primary care.
• Expected to lower overall healthcare costs and improve health equity.

Negative

• None.

Walmart Health and MeMD, a multi-specialty telehealth provider, today announced they have entered into an agreement for Walmart Health to acquire MeMD. This reinforces Walmart’s commitment to integrated, omnichannel health delivery that leverages data and technology to improve engagement, health equity and outcomes.

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. Our focus on consumer engagement, improved health outcomes, and early, equitable access remains the cornerstone of quality healthcare that can help lower overall healthcare costs across all populations.

“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. “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.”

MeMD was founded in 2010 by Dr. John Shufeldt to provide virtual care nationwide, leveraging the latest online technologies to deliver high-quality care 24/7/365 in a convenient and accessible manner. Today, MeMD delivers medical and mental health visits to millions of members nationwide.

“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.”

The acquisition, which is subject to regulatory approval, is expected to close in the coming months.

About Walmart

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. With fiscal year 2021 revenue of $559 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.

About MeMD

MeMD is a comprehensive telehealth solution providing on-demand, online care for common illnesses, injuries and behavioral health issues to consumers and businesses nationwide. The company leverages the latest technologies and a highly skilled network of providers and therapists to treat the whole person, affordably and conveniently, from a computer, phone or mobile device. For more information, visit memd.me.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210506006244/en/

FAQ

What are the details of Walmart's acquisition of MeMD?

Walmart Health is acquiring MeMD, a telehealth provider, to enhance its integrated health delivery system, expected to close in the coming months pending regulatory approval.

How will the MeMD acquisition impact Walmart's healthcare services?

The integration of MeMD will enable Walmart to offer comprehensive virtual care options, complementing its existing in-person health services.

When is the Walmart and MeMD acquisition expected to close?

The acquisition is expected to close in the coming months, subject to regulatory approval.

What types of care will Walmart provide after acquiring MeMD?

Walmart will provide access to urgent, behavioral, and primary care services through its expanded telehealth offerings post-acquisition.

What are the potential benefits of Walmart acquiring MeMD?

The acquisition aims to improve consumer engagement, health outcomes, and provide lower-cost healthcare options across populations.