MDLIVE Inc., a Miramar, Florida-based telehealth company offering virtual healthcare services in all 50 states, closed a $50m crossover equity investment from Sixth Street Growth, the growth investing arm of Sixth Street.
Sixth Street joined an existing roster of investors that includes Cigna Ventures, Health Care Service Corporation, Health Velocity Capital, Novo Holdings, Industry Ventures, Sentara Healthcare, Sutter Health, Heritage Group and Bedford Funding.
The funding will be used primarily for the ongoing strategic expansion of the company’s virtual primary care digital health platform and launch supporting products and services. In a separate transaction, MDLIVE secured $25 million in debt expansion from other investors.
Led by Charles Jones, chairman and chief executive officer, MDLIVE offers virtual healthcare services to more than 45 million members nationwide from its network of board-certified physicians, dermatologists, psychiatrists and therapists, who specially trained in virtual care. The company leverages technology and artificial intelligence to simplify and streamline, connecting providers and patients whenever and wherever it’s most convenient, often within just minutes.