The current coronavirus pandemic has forced us to rethink our daily lives. We have had to change how we work, how we communicate, and how we get medical care.
One realization: we may have downplayed the importance of telemedicine. We have had the technology to utilize this platform for years but have yet to make the most of it. Now, in the midst of social distancing precautions, may be the opportunity for telemedicine to soar.
New York company provides an example of the potential of telemedicine
A New York based telehealth company is poised to take advantage of this opportunity. The group, AbleTo, provides remote mental health services. The group states it has experienced an increased in demand due to the current coronavirus pandemic. Those in the digital health field state the mental health specialties are especially poised for growth in this arena as it can help those who need mental health services avoid the unfortunate stigma that can accompany in-person visits and remove barrier to care.
AbleTo is thriving. A larger organization, UnitedHelath, has supposedly offered to acquire the business for $470 million.
Important note: navigate health care business deals with care
The negotiations could signal a potential increase in similar business transactions in the near future. Medical health organizations that are looking to acquire businesses, or those who are considering an acquisition offer, are wise to seek legal counsel experienced in this area. Business transaction in the health care industry often need to address licensing and regulatory issues. An attorney experienced in these matters can help navigate these issues and better ensure a smooth transaction.