Teladoc posts $13.7 billion loss in 2022, due to Livongo write-downs

Teladoc Health Inc. reported a historic net loss in 2022 of $13.7 billion on revenue of $2.4 billion, mostly from an impairment charge related to the shrinking value of its Livongo acquisition, reports Healthcare Dive. By comparison, the virtual care company reported a loss of $429 million in 2021. The non-cash goodwill impairment charge of $13.4 billion reported over the past year reflects the waning market value of Teladoc’s $18.5 billion acquisition of chronic care company Livongo in late 2020.