Five things to know:.
Miramar, Fla.-based telemedicine company MDLive announced Sept. 14 it closed a $50 million crossover equity investment to expand its virtual medical care platform..
Jackie Drees –
Monday, September 14th, 2020
1. Global investment firm Sixth Street Growth backed the $50 million in funding, signing up with a group of financiers including Cigna Ventures, Sacramento, Calif.-based Sutter Health and Norfolk, Va.-based Sentara Healthcare..
2. The $50 million in funds will be used to broaden MDLives digital health platform as well as for the launch of extra telehealth product or services..
3. MDLive provides virtual care to more than 45 million members; sustained by the COVID-19 pandemic, the companys virtual gos to increased by more than 95 percent and total bookings grew by more than 300 percent throughout the very first six months of 2020..
4. Through July, MDLive completed almost 1 million patient sees and posted increases throughout all service lines, including 500 percent in year-over-year growth for behavioral health, more than 350 percent for dermatology and more than 80 percent for medical care..
5. In a separate deal from the $50 million raised, MDLive also secured $25 million in financial obligation expansion from other investors.
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