The last 18 months at Fabric have been a period of remarkable growth, driven by strategic acquisitions and rapid expansion in healthcare technology. We have successfully completed four major acquisitions to build a comprehensive, end-to-end care enablement system and expanded clinical service for our partners. These acquisitions include Zipnosis, the leader in on-demand and asynchronous virtual care; GYANT, a top conversational AI and patient engagement solution; and Walmart's virtual care service, MeMD.
Now, we're excited to announce our fourth and largest acquisition to date: the acquisition of TeamHealth's virtual care service line. This acquisition significantly enhances our virtual healthcare capabilities and expands our reach to cover over 100 million lives across all 50 states. The deal not only adds 36 million additional lives to Fabric's coverage but also enhances our ability to serve over 75 health systems and 30,000 employers across the U.S.
Expanding Our Impact
The acquisition of TeamHealth VirtualCare brings impressive additions to our existing portfolio and propels our growth in several key areas:
- Increased Coverage: Fabric now covers over 100 million lives across all 50 states, with 36 million additional lives added through this acquisition.
- Expanded Provider Network: We're now adding highly skilled physicians and advanced practice providers with multi-specialty experience, including cardiology, sports medicine, OB/GYN, family medicine, and emergency medicine.
- Technology-Enabled Care: Our versatile technology will be leveraged to drive efficiency and patient access across a broader range of healthcare services.
- Increased Market Reach: This addition expands our reach across payers, employers, and provider organizations, as Fabric now serves over 75 health systems and 30,000 employers.
Our Strategic Approach
What sets us apart is our unique build-and-buy strategy that is unlike what anyone else is doing. A big part of our focus is to acquire strategic assets to achieve the following within our products:
- Improve patient experience and access
- Streamline provider experience and efficiency
- Optimize operations across healthcare, knowing that access is greatly dependent on capacity
We began by partnering with health systems to improve patient experience and throughput, starting with arguably the most challenging setting: the ER. Now, we're expanding to treat patients from anywhere, integrating virtual-first solutions across the entire patient journey—from the Digital Front Door® and patient intake across treatment and post-discharge follow-up workflows. The entire experience seamlessly integrates within existing EMRs to improve rather than disrupt clinical workflows.
Looking Ahead
This acquisition marks an exciting new chapter in our journey. By integrating TeamHealth's virtual care service line into Fabric, we're more equipped than ever to transform healthcare delivery through innovative technology and our commitment to exceptional patient care.
As we continue to grow and evolve, our focus remains unwavering: powering healthcare to move faster, work smarter, and deliver better care. With our expanded network and virtual-first solutions, we're prioritizing clinical quality and efficiency to create better care experiences and outcomes for all—setting a new standard in care delivery.
