BENTONVILLE, Ark. — Health technology startup Fabric has acquired Walmart’s telehealth assets as the retailer exits its health care delivery business.
Fabric, which offers patient intake, care navigation and telehealth services, said 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.
Fabric, formerly known as Florence, said the deal will expand its products for employers and payers and better position the startup to compete in virtual care.
The company will acquire MeMD’s existing customers, lines of business and the majority of its employees, Fabric CEO and founder Aniq Rahman told Healthcare Dive over email. MeMD CEO Bill Goodwin will also join Fabric. The virtual care company will operate independently and continue to offer its full line of services.
