Cigna will acquire telehealth platform MDLive, the insurer announced Friday morning. Cigna has been a longtime partner of and investor in MDLive and will fold it into its Evernorth subsidiary, which houses its health services business. The deal is expected to close in the second quarter of 2021, pending regulatory approvals.
The insurer said the addition of MDLive will enhance Evernorth’s ability to offer “a more affordable, convenient and connected patient care experience.” Since its 2009 launch, MDLive has brought in $174 million in funding, with Cigna’s investment arm Cigna Ventures as a leading investor.
In 2020, MDLive saw its virtual visits up 95%, and total bookings were up 300% due to the increased demand during COVID-19. Behavioral health visits have been particularly in demand.
Through the acquisition, both companies believe that they can drive earlier identification and diagnosis of chronic care needs, make faster referrals to high-quality providers and ensure patients have access to appropriate and affordable site of care, according to the announcement.