Walmart is selling its virtual healthcare business to Fabric, a fast-growing provider of healthcare technology, for an undisclosed sum.
Walmart, which announced two months ago it was shuttering its 51 Walmart Health centers and its telehealth operation, said Fabric would acquire MeMD from Walmart, which acquired it in 2021 and rebranded it Walmart Health Virtual Care.
“MeMD is a leading provider of virtual behavioral, urgent, and primary care benefits for 30,000 corporate, institutional, and health plan partners and 5 million members,” the companies said Friday in announcing the acquisition. “This acquisition advances Fabric’s employer strategy and marks a significant milestone in the team’s mission to power boundless, high-quality care for consumers across the nation.”