Fabric, a leading provider of healthcare technology, has recently announced the acquisition of MeMD from Walmart. The deal comes after Walmart had shut down its Walmart Health centers and telehealth operation. With this acquisition, Fabric aims to enhance its employer strategy and deliver high-quality care to consumers across the nation.
MeMD is a prominent provider of virtual behavioral, urgent, and primary care benefits for numerous corporate, institutional, and health plan partners. As part of the acquisition by Fabric, MeMD will be integrated into Fabric’s platform as a virtual platform and clinical network for medical care providers, health insurers, and employers. This integration will enable Fabric to leverage its artificial intelligence-powered technology, seamless journey automation, and a robust network of behavioral health and medical providers to provide innovative healthcare solutions to its customers.
Fabric is well-positioned to provide exceptional patient care with customers such as Luminis Health, OSF HealthCare, Highmark Health, and Intermountain Health. The financial terms of the acquisition have not been disclosed yet, but it is expected to close in mid-July.
Brian Setzer, Walmart’s Executive Vice President for Health & Wellness expressed confidence in MeMD’s future growth under Fabric’s leadership. Aniq Rahman, Fabric’s founder and CEO emphasized that this acquisition aligns with their vision to revolutionize healthcare delivery through advanced technology and exceptional patient care.
