1 Green Flag for Teladoc's Future
When telehealth provider Teladoc (NYSE: TDOC) purchased Livongo (NASDAQ: LVGO) for $18.5 billion in August, the investing world was caught off guard. The valuation was considered outrageous by many, and shares of Teladoc fell 11% the day the deal was announced. A closer look should give investors at least one reason to expect tremendous growth ahead.
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Livongo offers remote monitoring and coaching -- powered by artificial intelligence -- for patients with chronic diseases. The company's specialty is helping those with diabetes improve quality of life, and reducing costs for patients and insurers. Livongo has been able to leverage this and turn in astounding growth. The company saw revenues of $170.2 million in 2019, up 149% from the year before. COVID has helped maintain the pace, as management reported 125% in the second quarter of 2020 compared to the same quarter last year.
Source Fool.com
