Walmart has recently sold its virtual healthcare business, MeMD, to Fabric, a provider of healthcare technology. This decision comes after the closure of Walmart’s Health centers and telehealth operation. Fabric will acquire MeMD from Walmart, which was initially acquired by Walmart in 2021 and rebranded as Walmart Health Virtual Care.
Fabric is a prominent provider of virtual behavioral, urgent, and primary care benefits for numerous corporate, institutional, and health plan partners. This acquisition by Fabric will enhance their employer strategy and help in delivering high-quality care to consumers nationwide. The financial terms of this acquisition have not been disclosed, but the deal is expected to close in mid-July.
Fabric’s artificial intelligence-powered technology, seamless journey automation, and a robust network of behavioral health and medical providers will enable them to be successful as a virtual platform and clinical network for medical care providers, health insurers, and employers. With customers like Luminis Health, OSF HealthCare, Highmark Health, and Intermountain Health, Fabric is well-positioned to provide innovative healthcare solutions.
Walmart’s Executive Vice President for Health & Wellness, Brian Setzer, expressed confidence in MeMD’s future growth and success under Fabric’s leadership. Fabric executives also emphasized their commitment to leveraging their technology to enhance MeMD’s services and reduce the cost of care for patients nationwide. Aniq Rahman