MDLIVE raises $50 million in funding. Is an IPO next?
MDLIVE, one of the largest and fastest-growing telehealth companies in the country, announced the closing of a $50 million crossover equity investment from Sixth Street Growth, the growth investing arm of San Francisco-based global investing firm Sixth Street Capital. The $50 million investment will primarily be used for strategic expansion of MDLIVE ‘s Virtual Primary Care digital health platform, which serves 45 million members with virtual healthcare services in all 50 states. Crossover investors such as Sixth Street hold investments in both private and public companies and crossover investments are sometimes made before an IPO. “The pandemic has accelerated the rapid disruptive transformation of virtual healthcare delivery,” Jones said, in a statement. Other investors in MDLIVE include Cigna Ventures, Health Care Service Corporation, Health Velocity Capital, Novo Holdings, Industry Ventures, Sentara Healthcare, Sutter Health, Heritage Group and Bedford Funding.