Should Teladoc Be Worried About GoodRx?
On Wednesday, GoodRx (NASDAQ: GDRX) went public at $33 a share. After a nice pop on its opening day, it pulled back a bit on Thursday, and as of early afternoon Friday, shares are trading hands around $49. At that price, the company is valued around $19 billion. That gives GoodRx a greater market cap than virtual healthcare specialist Teladoc Health (NYSE: TDOC), which is worth about $18 billion.
Right now, these two companies' core businesses are not in direct competition. Teladoc helps connect people to a doctor via video chat. GoodRx primarily provides an online platform that allows people to comparison shop for prescription drugs. Can GoodRx leverage that platform to compete with Teladoc? Maybe.
Image source: Getty Images
Source Fool.com
