Teladoc Health announced it has entered into a definitive agreement to acquire InTouch Health. The transaction is expected to close by the end of Q2, subject to customary closing conditions. Under the terms of the agreement, the purchase price of $600M will consist of approximately $150M in cash and $450M of Teladoc Health common stock.

InTouch Health is expected to generate 2019 revenues of approximately $80M, growing approximately 35% versus the prior year. Upon closing of the transaction, Teladoc Health will provide an updated full-year 2020 financial outlook and guidance for the combined company after adopting recent U.S. GAAP accounting pronouncements as well as completing valuation and related purchase accounting considerations for InTouch Health.