New York online health multinational Teladoc Health (NYSE: TDOC) has acquired Victorian healthtech startup Telecare, in the first exit for LaunchVic’s Alice Anderson Fund.
The deal closed last Friday, August 8, with the terms undisclosed, but Teladoc Health said it’s expected to be immaterial to its 2025 financial results.
Telecare developed Australia’s leading virtual care clinic and provides software solutions to the healthcare sector, engaging specialists and allied health practitioners, including in cardiology, paediatrics and psychology, to treat chronic and complex diseases and conditions. It now has 300 virtual specialists in over 30 specialties, supporting both GP-referred appointments as well as providing virtual care services to public hospitals across Australia.
After taking part in Startmate in 2021, Telecare went on to raise a $2.2 million Seed round at a $20 million valuation in August 2021, led by Australian Medical Angels and supported by LaunchVic’s Alice Anderson Fund, a sidecar fund backing female founders.
The brand will continue with the existing founders and management team staying in place.
Teladoc Health, which operates in the US, UK, Germany, Canada and France, has also been in Australia for 15 years.
International president Carlos Nueno said the Telecare acquisition “will help us advance our mission—especially for those in regional and remote areas—by combining our technological solutions and services to support one of the leading health markets around the world.”
Telecare CEO Michael Wang, who cofounded the startup in 2019 with Lina Xu, nephrologist Dr Christopher Sia and GP Dr Raymond Wen Teladoc Health will help them accelerate their impact
“We are confident that our hospital partners, patients and providers will greatly benefit from the scale and expanded capabilities that this combination will deliver,” he said.
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