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M&A
Fabric acquires virtual healthcare company MeMD from Walmart to expand employer-targeted offerings
Telehealth
Jun 28, 2024
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Jun 28, 2024

Fabric acquires virtual healthcare company MeMD from Walmart to expand employer-targeted offerings

M&A

  • Healthcare technology firm Fabric, previously known as Florence, has acquired MeMD, a telehealth platform, from Walmart for an undisclosed sum. MeMD, founded in 2010 and later acquired by Walmart in 2011, offers virtual medical and behavioral health services.

  • MeMD provides 24/7 on-demand virtual urgent care, behavioral health, and primary care services. It employs a care coordination team to guide its users through these services, helping them navigate their healthcare needs conveniently and efficiently. As of June 2024, the company provided its virtual behavioral, urgent, and primary care services to 30,000 corporate, institutional, and health plan partners and 5 million members.

  • Following the acquisition, Fabric plans to broaden its services for employer and payer customers and enhance its behavioral health strategy. It will also integrate its clinical intelligence and automation services into MeMD. This move aims to facilitate the patient-care process by using AI to identify symptoms and guide patients to appropriate care while speeding up wait times for virtual visits.

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