Teladoc Health https://teladochealth.com, leader in virtual care, recently acquired Paris-based telemedicine provider MedecinDirect https://medecinDirect.fr. Combining the virtual care services of Teledoc Health with the established local medical operations of MedecinDirect, will bring the benefits of virtual care to more individuals across France. With the acquisition, the new agreement will create the French country unit of Teladoc Health.
Credit Suisse https://www.credit-suisse.com/us/en.html in a conversation with Teledoc Health management was told that Teledoc Health’s acquisition of the French telemedicine provider MedecinDirect occurred on March 18, 2019 and France is seen as a fast growing market for telehealth.
Teledoc Health reports that the French government is very pro telemedicine. The country is facing a big shortage of physicians plus the fact that the country has a relatively younger population well accustomed to digital/mobile health technology.
Consumer awareness of virtual care in France is on the rise and the recent positive regulatory changes regarding virtual care reimbursement makes the French market ripe for virtual care adoption.
“With more than 40 insurance partners and nearly half of the top 30 private medical insurers, we can meet more care needs for more individuals and ultimately help improve healthcare across the country,” said Francois Lescure, CEO and Co-Founder, MedecinDirect. MedecinDirect contracts directly with private health insurers in France since the company works with their own team of doctors.
MedecinDirect currently does not provide any expert opinion service, which Teledoc Health sees as a cross-selling opportunity. The MedecinDirect leadership team is staying with the company post the acquisition closure which is expected during the first half of 2019, but terms will not be disclosed.
Teledoc Health is the largest telemedicine company in the world. As the only public virtual provider, the company uses a combination of web mobile apps, video and phone platforms to connect patients with doctors at any time on demand.
“With a continued focus on our global expansion, we will now become the market leader in France which will have an immediate impact on healthcare delivery in the country,” said Carlos Nueno, President, Teladoc Health International. “On the successful foundation built by MedecinDirect, we will bring our full suite of virtual care services to multinational clients who have been eager to expand.”
For more information, questions, or to provide feedback, email Jailendra Singh, Research Analyst at Credit Suisse, jailendra.singh@credit-suisse.com or call (212) 325-8121.