Why Teladoc Shares Are Falling Today
On Thursday, Amazon (NASDAQ: AMZN) announced an aggressive push into healthcare. Investors in Teladoc Health (NYSE: TDOC) hit the panic button upon hearing the news, sending Teladoc shares down as much as 8.7% at the open.
We've known for a while that Amazon had an interest in healthcare, going as far as partnering with Berkshire Hathaway and JPMorgan Chase a few years ago to explore ways to modernize U.S. health. Still, the company's Thursday announcement that it would acquire primary healthcare clinic operator 1life Healthcare (NASDAQ: ONEM) for $3.5 billion came as a surprise.
1Life operates as One Medical, a membership-based primary care practice with offices in 12 major U.S. markets. It also provides virtual care and telehealth services, making it a powerful platform for Amazon to use if it wants to roll out a more modern form of medicine to a broader population.
Source Fool.com
