Dialogue

Dialogue partners with employers and health insurers to offer telehealth services to their employees and members. The users have 24/7 access to doctors, nurses, and other healthcare professionals via audio, video, and chat options for wide arrays of physical and mental health needs, artificial intelligence-enabled (AI-enabled) triage, referrals, and prescription renewals.

The company launched its trademarked Integrated Health Platform in January 2021 to consolidate its virtual care, wellness programs, mental healthcare services, and Employee Assistance Program (EAP) onto a single platform. The company claims to be the only integrated health and wellness B2B platform in Canada.

Key Customers and partnerships

Dialogue had direct relationships with over 2,000 customers across Canada and Germany as of December 2020 and served around 50,000 organizations through these partnerships. In addition, the number of members with access to the virtual platform topped 1 million in January 2021.

Fundings and financials

As of March 2021, Dialogue was planning to raise CAD 100 million (USD 80 million) from an initial public offering that will be listed on the Toronto Stock Exchange under the ticker symbol “CARE.”

In Q2 2023, net losses reduced significantly YoY to CAD 5.8 million (USD 4.3 million) from CAD 8.4 million (USD 6.3 million) in Q2 2022. Top-line revenue met internal expectations, growing 17.2% YoY to CAD 25.5 million (USD 19.0 million), driven by  an increase in new members (by 18.6% YoY), an expansion of the attach rate as existing customers added more services, and full-quarter contributions from Tictrac. Dialogue Health has not provided any forward-looking guidance as the company has entered into an agreement to be acquired by financial services company Sun Life Financial for a consideration of CAD 365 million (USD 270 million) or CAD 5.15 (USD 3.82) per share. The transaction is expected to close in Q4 2023. Post acquisition, Dialogue will delist from the Toronto Stock Exchange but will continue to operate as a standalone entity under the “Sun Life Canada” brand from its head office in Québec.