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SOC Telemed entered into a definitive agreement with Healthcare Merger Corp.

July 30, 2020 / PR Newswire

SOC Telemed ("SOC"), one of the largest national providers of acute care telemedicine, and Healthcare Merger Corp. ("HCMC") (NASDAQ: HCCO), a special purpose acquisition company, announced today that they have entered into a definitive agreement for a business combination. The combined company will operate as SOC Telemed and will be listed on the Nasdaq. The transaction implies an initial enterprise value for SOC of approximately $720 million. SOC is a leading provider of acute telemedicine solutions that are used primarily inside hospitals alongside onsite care teams to provide time-sensitive specialty care when patients are their most vulnerable.This business combination strengthens SOC Telemed and will allow it to further penetrate the broad and fast-growing acute telemedicine market