Teladoc Announces Initial Public Offering
Chamber member Teladoc Inc., the first and largest telehealth platform in the United States, recently went public. Telehealth refers to “the emerging field of remote house calls by primary care doctors” according to the company.
Trading under the symbol “TDOC”, the shares quickly leaped from the initial offer of $19.00 per share to $28.50, a rise of 50%, at the close on July 1st. That rise translates to over $270 million raised.
A few major companies, such as PepsiCo and Bank of America already use Teladoc as a way to cut rising health care costs. According to Jason Gorevic, Teledoc CEO, the company accounts for more than half a million phone and video consultations a year between patient and doctor.