I've done a variation on that - bananas slit open and stuffed with chocolate chips, mini marshmallows, and walnuts, then…
Teladoc To Acquire Livongo for $18.5 Billion
Virtual care provider Teladoc Health will acquire chronic condition management app vendor Livongo in a deal that values the company $18.5 billion, the companies announced this morning.
The announcement characterized the transaction as a merger, but the deal is structured as an acquisition. The combined companies will operate under the Teladoc name, Teladoc CEO Jason Gorevic will continue in that role, and Teladoc’s board chair will also remain in that role.
The share price of both companies dropped sharply midday Wednesday following the announcement. Both have seen their shares run up by multiples so far in 2020.
The companies expect their combined revenue to reach $1.3 billion in 2020. Teladoc just reported Q2 revenue of $241 million, up 85% as virtual visits increased by 203%.
Neither company has ever booked a quarterly profit. Teladoc went public in 2015, Livongo in 2019.
No quarterly profit ever, and an 18.5 billion price tag… Is there that much waste reduction in the US healthcare non-system to account for such strange valuation?
Mr. Tullman & Mr. Shapiro poised to cash out (again). As has been proven with Allscripts and now here, it’s easier to raise money for a startup than it is to actually run a company.
It reminds me of the post-deregulation period in the airline business, 1980s into the 1990s, when airlines fetched this kind of insane money from all over. I was there for that and it didn’t end well. http://telecareaware.com/an-admittedly-skeptical-take-on-the-18-5-billion-teladoc-acquisition-of-livongo/
Livongo and Prosper!
What, am I the only one to ever hear it that way??