Walmart sells virtual care business to Fabric
Walmart’s virtual patient care business, MeMD, has been acquired by Fabric, a healthcare technology company. The purchase was announced on Friday.
MeMD offers virtual, on-demand healthcare services—including urgent and primary care along with behavioral health—to 5 million patients and serves more than 30,000 employer health plans. It was founded in 2010 and acquired by Walmart in 2021.
The buyout coincides with Walmart shuttering its health clinics and telehealth services. The dollar amount of the sale was not revealed. However, MeMD has previously partnered with Fabric, which provides technology to make virtual patient intake and care management possible on the platform.
"The MeMD team built a leading virtual care offering, and we are excited to welcome them to Fabric," Aniq Rahman, founder and CEO of Fabric said in a statement. "This acquisition aligns with our strategic vision to transform healthcare delivery through innovative technology and exceptional patient care. The combination of our teams, technology and clinicians strategically positions Fabric to quickly expand across payers, employers and provider organizations."
Fabric said it will be a smooth transition for MeMD patients, adding that care will not be disrupted. Additionally, members of Sam’s Club who currently have access will still be served after the acquisition is finalized.
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