MDLIVE secures $50 million in new funding

MDLIVE

Telehealth services provider MDLIVE has closed on a $50 million investment from private equity firm Bedford Funding. The fresh capital will enable MDLIVE to continue its organic growth and expand its acquisition strategy to reach even more customers on its way of building a “fully integrated, end-to-end virtual health system.” Bedford Funding joins previous investors, Sentara Healthcare, Sutter Health, Heritage Group and Kayne Anderson Capital Advisors.

“Through the development of an integrated virtual health system, MDLIVE will address the challenges faced across the continuum of health care, from patient to payer,” said Randy Parker, president and chief executive officer of MDLIVE. “By providing convenient, high-quality, cost-effective care that seamlessly transitions from the virtual to the in-person setting, we are reinventing health care delivery and setting a new standard for health care services in this country.”

MDLIVE provides its virtual health care services through its partner network that includes Walgreens, Microsoft, as well as major health systems across the country. The company’s secure, HIPAA-compliant platform offers virtual consultations with U.S. board-certified physicians and licensed therapists.

In its quest to bring telehealth services to Americans, MDLIVE is competing with the likes of American Well, Teladoc and HealthSpot.