Fabric, a healthcare technology company, has acquired TeamHealth VirtualCare, a virtual care provider licensed in all 50 states, for an undisclosed sum. This marks Fabric's fourth acquisition in 18 months, expanding its reach to over 100 million covered lives.

TeamHealth VirtualCare is part of TeamHealth, a leading physician practice group in the US with more than 14,000 clinicians. The acquisition adds highly skilled physicians and advanced practice providers with multi-specialty experience to Fabric's medical group.

Through this acquisition, Fabric aims to enhance its virtual healthcare services for payers, employers, and health systems. The company will leverage TeamHealth's expertise and its technology to improve efficiency, patient access, and clinical outcomes across virtual and in-person care settings.

Analyst Quicktake: This marks the third acquisition Fabric has made in 2024; in January 2024 , it acquired conversational AI startup GYANT, and in June 2024 , it acquired MeMD, a telehealth platform previously owned by Walmart. Both acquisitions were carried out for undisclosed sums and the respective products were incorporated into Fabric’s offerings.