It took a lot of late-night and early-morning Zoom calls plus some socially distanced in-person meetings to create the first health tech giant, all conducted during a pandemic and in near-total secrecy. Now that telemedicine provider Teladoc Health and diabetes coaching company Livongo are moving closer to clinching their $18.5 billion deal later this year, leaders of both companies say they’re ready to provide a single solution for care that will satisfy consumers, providers, and payers.
“We know there’s a lot of waste in health care, but we will trim a lot of that waste out while also improving clinical health outcomes,” Jennifer Schneider, president of Livongo, said Thursday at STAT’s Health Tech Summit. “I think in five-ish years … you’re going to see a different model where the experience of being a person receiving health care — and that’s all of us — is going to be convenient. You’re actually going to not hate it.”
To get there, the two companies need to exploit their complementary offerings, said Jason Gorevic. Currently Teladoc’s CEO, he will be the CEO of the newly combined company. “The goal here is to provide a single solution that provides whole-person care, regardless of what the clinical condition is and to really bring together the very complementary assets of the two companies.”