With this acquisition, Walmart Health will add nationwide virtual care options across primary care, urgent care and behavioral health to its clinics’ service portfolio.
As it competes with CVS, Walgreens and Amazon on primary care, Walmart had to acquire a company to bridge the gap between virtual and in-person visits.
The retailer recently struck a deal to acquire telehealth provider MeMD as a complement to its in-store clinics, which have been rolling out at a relatively slow pace.
Founded in 2010 by Dr. John Shufeldt, MeMD has grown to now support more than 5 million members nationwide, according to the company’s website. It offers telehealth visits for urgent care, men’s and women’s health needs, talk therapy, teen therapy, psychiatry and COVID-19.
“We’ve achieved incredible strides in making healthcare available to individuals and businesses around the country through our easy, affordable and intuitive online platform,” Bill Goodwin, the CEO of MeMD, said in a statement.
The companies did not disclose the terms of the deal, which is expected to close in the next few months.
The acquisition would add a virtual component to Walmart’s ongoing healthcare efforts, which involve building in-store clinics with a mixture of preventive health services, including primary care, dental, mental health, hearing and vision services. Walmart launched its first pilot of the concept in Georgia two years ago, and to date has opened about 20 of the clinics.
“Telehealth offers a great opportunity to expand access and reach consumers where they are and complements our brick-and-mortar Walmart Health locations,” Dr. Cheryl Pegus, executive vice president of health and wellness for Walmart, said in a news release. “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.”
Sources:
https://corporate.walmart.com/newsroom/2021/05/06/walmart-health-to-acquire-telehealth-provider-memd
https://medcitynews.com/2021/05/walmart-buys-telehealth-provider-memd/
https://www.mobihealthnews.com/news/walmart-looks-virtual-care-acquisition-telemedicine-company-memd
