Teladoc Health, Inc.

Is Teladoc Health publicly traded?
Yes. Teladoc trades on the New York Stock Exchange under ticker TDOC. It listed in July 2015, the first major US telehealth IPO.

Who founded Teladoc?
G. Byron Brooks and Michael Gorton founded the company in Texas in 2002, initially offering physician consultations by phone.

What does Teladoc own?
Its principal brands are the Integrated Care enterprise business, the BetterHelp therapy platform (with affiliated services Teen Counseling, Pride Counseling, and Regain), Best Doctors, and Catapult Health.

Where is Teladoc headquartered?
Teladoc Health is headquartered in Purchase, New York, United States. BetterHelp operates from Mountain View, California.

Did Teladoc buy BetterHelp?
Yes. Teladoc acquired BetterHelp in January 2015 for $3.5 million in cash, a $1 million promissory note, and three years of revenue-based seller payments, one of the most profitable small acquisitions in digital health history.

Does Teladoc make a profit?
Not on a GAAP basis. FY2025 net loss was $200.3 million, narrowed from $1.0 billion in FY2024. Adjusted EBITDA was $281.1 million.

Teladoc was founded in Texas in June 2002 by G. Byron Brooks and Michael Gorton, built on the then-novel idea of physician consultations by phone. It grew slowly through the 2000s selling access-fee contracts to employers, winning early regulatory battles over remote prescribing that defined the industry.

The company reincorporated in Delaware in 2008 and went public on the NYSE in July 2015, the first major telehealth IPO. That year it acquired behavioral health provider Compile Inc., operating as BetterHelp, for $3.5 million in cash plus a $1 million promissory note and revenue-based seller payments, and bought competitor Stat Health Services for $30 million.

An acquisition-driven expansion followed: Best Doctors in 2017 added expert medical opinions; Advance Medical extended international reach; Livongo in 2020 brought chronic condition management in a deal valued near $18.5 billion at announcement, the largest in digital health history. The pandemic supercharged the business as virtual visits exploded and the stock peaked above $290 in early 2021.

The post-pandemic period was harder. Teladoc recorded massive goodwill impairments, including a $9.6 billion charge in 2022 tied largely to the Livongo deal, and growth stalled as telehealth normalized. Leadership transitioned repeatedly: longtime CEO Jason Gorevic departed in 2024, succeeded by Chuck Divita.

For fiscal 2025 Teladoc reported revenue of $2.53 billion, down 2% year over year, with Integrated Care up 3% to $1.58 billion and BetterHelp down 9% to $950.4 million. Net loss narrowed sharply to $200.3 million from $1.0 billion in 2024. The year's strategic moves included acquiring Catapult Health, launching the Wellbound employee assistance program, and pivoting BetterHelp to accept insurance across 20 states plus Washington, D.C.

BetterHelp FTC settlement (2023): The FTC found that BetterHelp shared user health data with Facebook, Snapchat, Pinterest, and Criteo for advertising despite privacy promises. The company paid $7.8 million in consumer refunds and was banned from sharing health data for advertising purposes.

Livongo writedown and value destruction (2022 onward): The ~$18.5 billion Livongo acquisition, completed near the top of the telehealth boom, produced the largest goodwill impairments in digital health history, including a $9.6 billion charge in 2022. The deal is frequently cited in coverage of pandemic-era overpayment.

Leadership instability (2024): CEO Jason Gorevic's 2024 departure capped a period of executive turnover, with Chuck Divita installed as his successor.

Ongoing losses (ongoing): Teladoc has never reported an annual profit on a GAAP basis; FY2025's $200.3 million net loss was the narrowest in years but extended the streak, driven partly by $350.8 million in intangible amortization and a $71.8 million goodwill impairment.