TDOC Stock Jumps On Amazon Partnership – Investor's Business Daily

TDOC Stock Jumps On Amazon Partnership – Investor's Business Daily

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Telehealth services from Teladoc Health (TDOC) will be available to Amazon (AMZN) customers through its Echo line of intelligent speakers, the companies announced Monday. TDOC stock jumped.
The plan is another step deeper into health care services by Amazon. The e-commerce giant initially launched telehealth services, called Amazon Care, in a pilot program that started in 2019. It was initially available to Amazon employees only but became available to other companies and their employees last year. Amazon Care is expected to be available in 28 cities this year.
Teladoc stock jumped 7.3% to close at 75.91 on the stock market today. Amazon dipped 0.2% to 3,071.26.
Amazon customers can use the Alexa-activated intelligent speakers to request medical help. To get started, customers can say, “Alexa, I want to talk to a doctor.”
They’ll get a call back on their Echo device from a Teladoc doctor. The service is only for nonemergency visits, like allergies or flu symptoms. The services, now available to users of Echo-supported devices, launched via audio only, with video visits coming soon.
“Teladoc Health’s collaboration with Amazon is yet another step in breaking down barriers to health care access,” remarked Donna Boyer, chief product officer at Teladoc, in written remarks with the announcement. In addition, she said, “We are meeting consumers where they are, to continue to deliver value and high-quality care to members.”
The company held its initial public offering in 2015. Teladoc stock listed at $19. Shares set a record high of 308 about one year ago. Teladoc stock now trades about 75% below that peak.
Virtual care is an increasingly crowded space, with insurers also getting in on the telehealth expansion. Other companies offering virtual care include Anthem (ANTM) UnitedHealth Group (UNH) the Aetna unit of CVS Health (CVS) and Cigna (CI).
In addition, other providers of telehealth services include American Well (AMWL). Shares of American Well climbed 1.9% to 4.23. American Well held its IPO in September 2020.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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