Dallas-based virtual health startup Recure Health has acquired a digital health solutions company.
Recuro’s acquisition of California’s Competitive Health brings digital products that help employers reduce costs, drive engagement and maximize employers’ return on investment, according to the release. This is his second acquisition Reculo announced this year, following the acquisition of virtual primary care his provider Welvia.
Financial terms of the deal were not disclosed.
Michael Gorton, CEO and founder of Recuro Health, said the acquisition will improve Recuro Health’s market position. Gorton is one of the pioneers in the telehealth industry and he is also the CEO of Teladoc.
“Traditionally, if you look at what people say, they say healthcare is broken,” Gorton said. taking them and bringing them together into one solution is part of how we fix healthcare.”
Competitive Health offers products and services such as nurse advice lines, doctor locators, and claims negotiation technology.
Gorton said that before starting Teladoc, the coroner’s office warned him and co-founder Bryon Brooks that they would go to jail if they built this company. Currently, the telemedicine market is expected to grow to more than $380 billion by 2030, according to his research by consulting firm Grandview.
“Now everyone knows what it is,” said Gorton. “Almost everyone in the country uses it and it works.”
The acquisition will retain all Competitive Health employees. Recuro has more than 80 employees, and Gorton expects news of the acquisition to bring even more jobs to Dallas-Fort Worth. What the company needs most, he said, is “smart people who are willing to work and believe in their dreams.”
The company has raised three funding rounds so far. Recuro has licensed virtual primary care, emergency care, and behavioral health providers in all 50 states.