HealthJoy provides advantages navigation to employers in addition to digital providers for power care administration, dermatology, grownup and adolescent psychological well being, musculoskeletal remedy, pressing care, diet and tobacco cessation.
Teladoc and HealthJoy established their partnership in 2022 to incorporate a digital medical care possibility inside HealthJoy’s care navigation platform. The prolonged partnership introduced in the present day absolutely integrates Teladoc’s digital main care providers into HealthJoy’s choices for employers.
« This is a vital step in our journey to enhance entry to main care and simplify advantages navigation to make it simpler for workers to be wholesome and properly. We’re proud to accomplice with Teladoc Well being to make our imaginative and prescient a actuality, » Justin Holland, CEO and cofounder of HealthJoy, mentioned in a press release.
THE LARGER TREND
Privately held HealthJoy scored $60 million in Collection D funding in October, simply two years after it acquired $30 million in a Collection C funding spherical. The corporate garnered $12.5 million in Collection B funding in 2019.
Publicly-traded Teladoc struggled financially final 12 months, reporting a $13.7 billion web loss in 2022, pushed by a number of non-cash goodwill impairment prices, together with a $6.6 billion cost associated to its acquisition of power care administration firm Livongo.
The digital care firm laid off about 300 workers, or about 6% of its non-clinician workforce, earlier this 12 months as half of a bigger restructuring plan to cut back working prices.
Final month, the corporate reported its Q1 2023 earnings, displaying a lift in income of $629.2 million in comparison with $565.4 million within the first quarter of 2022, partly because of 21% progress year-over-year of its direct-to-consumer psychological well being division BetterHelp.
Teladoc initiatives its income within the second quarter will proceed to rise to between $635 million and $660 million. For the complete 12 months, the corporate anticipates income of between $2.58 billion and $2.68 billion.