Chicago-based digital worker advantages platform HealthJoy is increasing its partnership with digital care supplier Teladoc Well being to incorporate digital major care providers.
HealthJoy affords advantages navigation to employers in addition to digital providers for persistent care administration, dermatology, grownup and adolescent psychological well being, musculoskeletal remedy, pressing care, diet and tobacco cessation.
Teladoc and HealthJoy established their partnership in 2022 to incorporate a digital medical care choice inside HealthJoy’s care navigation platform. The prolonged partnership introduced right now absolutely integrates Teladoc’s digital major care providers into HealthJoy’s choices for employers.
“This is a crucial step in our journey to enhance entry to major care and simplify advantages navigation to make it simpler for workers to be wholesome and effectively. We’re proud to associate with Teladoc Well being to make our imaginative and prescient a actuality,” Justin Holland, CEO and cofounder of HealthJoy, mentioned in a press release.
THE LARGER TREND
Privately held HealthJoy scored $60 million in Sequence D funding in October, simply two years after it acquired $30 million in a Sequence C funding spherical. The corporate garnered $12.5 million in Sequence B funding in 2019.
Publicly-traded Teladoc struggled financially final yr, reporting a $13.7 billion web loss in 2022, pushed by a number of non-cash goodwill impairment costs, together with a $6.6 billion cost associated to its acquisition of persistent care administration firm Livongo.
The digital care firm laid off about 300 workers, or about 6% of its non-clinician workforce, earlier this yr as half of a bigger restructuring plan to cut back working prices.
Final month, the corporate reported its Q1 2023 earnings, exhibiting a lift in income of $629.2 million in comparison with $565.4 million within the first quarter of 2022, partially because of 21% development year-over-year of its direct-to-consumer psychological well being division BetterHelp.
Teladoc initiatives its income within the second quarter will proceed to rise to between $635 million and $660 million. For the complete yr, the corporate anticipates income of between $2.58 billion and $2.68 billion.