M&A Deal Summary

Teladoc Health Acquires Best Doctors

On June 19, 2017, Teladoc Health acquired healthcare services company Best Doctors from Schooner Capital for 375M USD

Acquisition Highlights
  • This is Teladoc Health’s 2nd transaction in the Healthcare Services sector.
  • This is Teladoc Health’s 3rd largest (disclosed) transaction.
  • This is Teladoc Health’s 6th transaction in the United States.
  • This is Teladoc Health’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2017-06-19
Target Best Doctors
Sector Healthcare Services
Buyer(s) Teladoc Health
Sellers(s) Schooner Capital
Deal Type Add-on Acquisition
Deal Value 375M USD
Advisor(s) William Blair (Financial)
Ropes & Gray (Legal)

Target

Best Doctors

Boston, Massachusetts, United States
Best Doctors, Inc. is a disruptive medical management company improving quality of care and lowering medical expenses via insurance products and through embedded solutions in employee benefit programs and third-party insurance policies. Best Doctors, Inc. was founded in 1989 and is based in Quincy, Massachusetts.

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Buyer(S) 1

Buyer

Teladoc Health

Purchase, New York, United States

Category Company
Founded 2002
Sector Healthcare Services
Employees4,816
Revenue 2.6B USD (2023)
DESCRIPTION

Teladoc Health is a national network of board-certified, state-licensed primary care physicians who provide telephone-based consultations 24 hours a day. Teladoc physicians diagnose routine care, and non-emergency medical problems via phone, recommend treatment, and prescribe medications when necessary. Teladoc Health was founded in 2002 and is based in Purchase, New York.


DEAL STATS #
Overall 6 of 9
Sector (Healthcare Services) 2 of 3
Type (Add-on Acquisition) 6 of 8
State (Massachusetts) 1 of 2
Country (United States) 6 of 9
Year (2017) 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-30 HealthiestYou

Scottsdale, Arizona, United States

HealthiestYou, Inc. is a provider of telehealth consumer engagement technology platform for the small- to mid-sized employer market. HealthiestYou offers members a suite of tools to easily control their health care access and costs, including physician locator, prescription pricing and benefits lookup, all through a fully-integrated, best-in-class interface.

Buy $45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-31 Advance Medical

Westwood, Massachusetts, United States

Advance Medical, Inc. is a physician-based telemedicine provider offering employers and insurers the ability to provide top-quality, concierge-level medical advice and support to patients around the globe via offices in the U.S., Europe, Asia, and South America.

Buy -

Seller(S) 1

SELLER

Schooner Capital

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 1971
Size Small
Type Sector Agnostic
DESCRIPTION

Schooner Capital is a private investment firm and family office focused on direct company investments, as well as investing through independent managers. For direct company investments, Schooner invests across a variety of stages and sectors. The Firm is particularly attracted to businesses with 'recurring revenue, capital efficiency, and protective moats'. Schooner was formed in 1971 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 2 of 4
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Massachusetts) 2 of 3
Country (United States) 2 of 4
Year (2017) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-21 Topokine Therapeutics

Boston, Massachusetts, United States

Topokine Therapeutics, Inc. is a clinical-stage biotechnology company developing topical prescription medications to contour the face and body non-invasively.

Sell $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-02 SpottedRisk

Boston, Massachusetts, United States

SpottedRisk is a specialty analytics and underwriting firm that focuses on building new data-driven insurance products that address the gaps in coverages in the entertainment and event industries, among others – SpottedRisk uses defensible analytics to improve the underwriting and evaluation of emerging and specialty risks that take advantage of time-sensitive market dislocations. SpottedRisk was founded in 2016 and is based in Boston, Massachusetts.

Buy -