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Grand Rounds and Physician On Demand’s Telehealth Providers
Two venture-backed well being tech firms, Grand Rounds and Physician On Demand, are merging. Grand Rounds was most just lately valued at $1.34 billion and Physician On Demand was final valued at $820 million. Although actual figures haven’t been launched, the 2 firms say they’ve a whole bunch of hundreds of thousands of {dollars} in mixed annual income.
Grand Rounds offers a platform which helps folks with particular circumstances and diagnoses discover care. The companies are supplied as a profit for workers from employers. Physician on Demand is a telehealth supplier which pairs sufferers with professionals who can assist with their psychological and bodily well being wants.
Tackling Issues with Healthcare Techniques
Each firms wish to fight the dearth of coordinated healthcare for sufferers within the US. The businesses’ management has expressed frustration with the best way sufferers need to navigate discovering suppliers and figuring out if care is roofed by their insurance coverage.
Each firms are targeted on streamlining the affected person expertise. Collectively, they hope to ensure that navigating healthcare techniques doesn’t add stress for folks already coping with tough well being conditions.
Competitors From Bigger Rivals
The distant healthcare trade has seen a surge in new prospects and buyers over the previous yr. Individuals have been extra involved about their well being whereas many have additionally been feeling cautious of in-person medical doctors’ visits.
The brand new firm will compete with a number of bigger rivals together with Teladoc (TDOC), which has a market capitalization of almost $31 billion, and Amwell (AMWL), which is valued at over $5 billion. As extra folks obtain COVID-19 vaccines and really feel snug returning to in-person medical doctors workplaces, these telehealth firms will all be working to retain prospects and construct sustainable enterprise fashions.
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