Why Teladoc Health Stock Jumped Today

On Thursday, Teladoc Health (NYSE: TDOC) announced the closing of its acquisition of InTouch Health, a privately held provider of enterprise telehealth services. As a result of this news, Teladoc's stock rose by about 5.1% today.

Teladoc first announced its intention to acquire InTouch Health back in January. The deal was funded by about $150 million in cash and $450 million of Teladoc's stock for a total of approximately $600 million.

This move will help Teladoc expand its range of virtual healthcare services. As one of the leading providers of enterprise telehealth services, InTouch Health brings with it a network of more than 450 hospitals, more than 14,500 physicians, and more than 40 clinical use cases.

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Source Fool.com