not vested
United Healthcare announced that its new, nationwide provider of Virtual Visits is Teladoc (TDOC).
But Teladoc has actually been around since 2002. And today, it’s the leading provider of telehealth medical visits in the United States.
The company boasts being able to connect you with a licensed doctor in under 10 minutes… whether it’s via the phone, internet, or mobile app.
Shares got hit on news that Teladoc’s contract ran out with the U.S. Defense Health Agency.
Teladoc is already the leader in the telehealth industry, with well over 50% of the market share in the United States.
If it can keep growing at this pace, the number of visits could grow by 10-fold in the coming years – and revenue gains should keep pace.
Already in the most recent quarter, revenue gained 38% quarter-over-quarter to $130.3 million. Visit volumes soared 70% to 908,000, while U.S. paid memberships grew by 100,000 to 26.8 million.
Sure enough, the stock has begun to surge again after the United Healthcare deal was announced. After all, the Military Health System was a 9.4 million-person market – but United Healthcare is a 49.5 million-person market!
TDOC has popped more than 50% from its lows late last year.
Source: Investor Place