News

Walmart Exits Virtual Health Market with Sale of MeMD to Fabric

June 28, 2024


What You Should Know:

Fabric, a healthcare technology company focused on care enablement, announced today the acquisition of MeMD from Walmart Inc. (NYSE: WMT). MeMD is a recognized leader in virtual healthcare, offering behavioral, urgent, and primary care services to millions of individuals.

– This strategic acquisition positions Fabric to be a major player in the virtual healthcare landscape. By combining Fabric’s care enablement platform with MeMD’s established virtual care services, the company is well-positioned to empower employers to offer comprehensive healthcare solutions and improve access to high-quality care for millions of individuals nationwide.

A Strategic Move for Employer-Sponsored Care

This acquisition marks a significant step forward for Fabric:

  • Expanding Employer Solutions: MeMD’s established network of 30,000 employer, institutional, and health plan partners expands Fabric’s reach in the employer-sponsored healthcare market.
  • Advancing Behavioral Health Strategy: The acquisition strengthens Fabric’s ability to deliver comprehensive care solutions, including a robust offering in behavioral health services.

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