Healthcare technology company Fabric has acquired MeMD from Walmart to bolster its virtual care services.
This strategic move is aimed at bolstering the employer strategy of Fabric and its mission to deliver quality care across the US.
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MeMD is focused on offering benefits for more than 30,000 employers and five million members with virtual behavioural, urgent, and primary care services.
Established in 2010, the platform was acquired in 2021 by Walmart and offers medical and behavioural health services.
The latest deal builds on the technology collaboration between MeMD and Fabric, aimed at streamlining patient intake and documentation processes.
Through this acquisition, Fabric will have several benefits, including expanding its employer and payer solutions and advancing its behavioural health strategy.
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By GlobalDataMeMD customers will gain from the clinical intelligence and automation of Fabric, aimed at reducing healthcare expenditures for employers and employees.
Fabric noted that the acquisition will ensure a smooth transition for current patients, partners, and clinicians of MeMD.
The merger is set to provide access to cost-effective, high-quality care.
Fabric recently secured $60m in a Series A funding round to aid in its growth through organic sales and strategic acquisitions.
Its AI-powered care enablement system efficiently triages and routes patients, enhancing treatment coordination across virtual and in-person settings.
With AI-driven clinical intelligence, automated patient journeys, and a comprehensive network of providers, Fabric will offer virtual care for providers, payers, and employers, set to improve access and affordability in healthcare.
Fabric founder and CEO Aniq Rahman said: “The MeMD team built a leading virtual care offering, and we are excited to welcome them to Fabric.
“This acquisition aligns with our strategic vision to transform healthcare delivery through innovative technology and exceptional patient care. The combination of our teams, technology, and clinicians strategically positions Fabric to quickly expand across payers, employers, and provider organisations.”
