Teladoc closes $18.5B Livongo buy

Teladoc (NYSE:TDOC) has closed its $18.5 billion purchase of Livongo Health (NSDQ:LVGO) ahead of schedule.

The companies entered into a definitive merger agreement in August and closed the deal Oct. 30. Under the terms of the merger, Livongo shareholders will receive 0.5920 shares of Teladoc Health plus cash of $11.33 for each Livongo share, including a special dividend declared by Livongo.

The merger is slated to bring the companies together to provide a consumer-centered virtual care platform. Teladoc and Livongo said they expect the deal will deliver significant financial benefits through run-rate revenue synergies of $100 million by 2022 and $500 million by 2025, with $60 million in run-rate cost synergies by 2022.

“Both Teladoc Health and Livongo were founded with the same mission: to create a new kind of healthcare experience, one that empowers people everywhere to live their healthiest life,” Teladoc CEO Jason Gorevic said in a news release. “Together, our team will achieve the full promise of whole-person virtual care, leveraging our combined applied analytics, expert guidance and connected technology to deliver, enable and empower better health outcomes.”

The original article can be found at: MassDevice