Jun 26, 2020
Mental Health Market Update: 6/26/2020 – Teladoc
Overview: Teladoc (Ticker: TDOC) provides integrated
healthcare services including telehealth, mental health, expert
medical services remotely.
In today’s market update, we dig into the company’s primary
business units, its growth, valuation, M&A history, growth
prospects and what we in the behavioral health startup ecosystem
can learn from digging into the numbers around Teladoc.
SOME OF WHAT WE COVER IN THIS EPISODE:
- What exactly Teledoc does, how they have grown via
relationships with UnitedHealth, CVS, Medicare/Medicaid and through
an aggressive M&A strategy.
- We highlight their M&A history and what they paid for a lot
of their key acquisitions.
- We dig into their current stock price, valuation levels, peer
group, and how the Company has traded versus its peers lately, and
in recent years. We make note that the Company started to out-pace
its peers in terms of valuation long before COVID happened.
- We question whether the Company should trade at 20x revenue or
200x EBITDA and what it means that they are trading at those levels
as of today.
- What is the stock worth? Should it be trading at $200 a
- Finally, we give two key takeaways that founders of behavioral
health or really any digital health startup should take into
consideration based on the performance of Teladoc and how they
position their business.
LINKS REFERENCED IN THE SHOW:
Teladoc March 2020 Investor Deck:
Q1 2020 earnings press release:
Mental health startup slack community:
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What If Ventures (Mental Health