Google Continues Health Care Push With Telehealth, Health Insurance Deals
GOOG)(NASDAQ: GOOGL) is pushing itself further into fast-growing health care industries with two recent moves.
investing $100 million in Amwell. Google will receive shares based on the IPO price of Amwell, which recently filed to go public.” data-reactid=”20″>Push Into Telemedicine: Google is investing $100 million in Amwell. Google will receive shares based on the IPO price of Amwell, which recently filed to go public.
AMZN) Web Services. Amwell cited Google as the “preferred global cloud partner.” The two companies will cooperate on technology and building Amwell’s sales footprint.
It was also noted by CNBC that Google Cloud is the home of Mayo Clinic and Ascension. The partnership here could lead to more health companies using Amwell’s service thanks to their Google Cloud relationships.
reported a 1,000% increase in virtual visits in May. Revenue for Amwell was $122 million in the first six months of 2020, a 77% increase.” data-reactid=”27″>A Closer Look: Amwell reported a 1,000% increase in virtual visits in May. Revenue for Amwell was $122 million in the first six months of 2020, a 77% increase.
TDOC) has seen its stock increase by 278% in 2020. The company recently purchased rival Livongo (NASDAQ: LVGO) and is aiming to be the biggest telehealth provider.
Teladoc reported an 85% increase in second-quarter revenue of $241 million. The company has 51.5 million paid members and 21.8 million visit fee only members, using a two-prong business model.
The plan is to eventually integrate Verily’s health devices into Coefficient’s risk solutions.
Verily was founded in 2015 as the life sciences and health care division of Alphabet.
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