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Health tech startup Fabric acquires Walmart’s telehealth business

June 28, 2024


Dive Brief:

  • Health technology startup Fabric is acquiring Walmart’s telehealth assets as the retailer exits its healthcare delivery business.
  • Fabric, which offers patient intake, care navigation and telehealth services, said Friday it purchased Walmart’s MeMD for an undisclosed amount. MeMD, which Walmart acquired in 2021, provides virtual behavioral, urgent and primary care benefits for 30,000 corporate partners and five million members.
  • Walmart said in April it would close its healthcare business, citing a challenging reimbursement environment and growing operational costs that limited profitability.

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