Fabric, a healthcare technology company, has recently announced its acquisition of MeMD from Walmart, expanding its virtual care services to 30,000 employers and 5 million members. This strategic move aims to enhance Fabric's capabilities in delivering behavioral, urgent, and primary care virtually, aligning with its mission to provide high-quality care nationwide.

MeMD, established in 2010 and previously acquired by Walmart in 2021, is recognized as a key player in virtual healthcare, offering 24/7 medical and behavioral health services. Under Walmart’s ownership, MeMD saw significant growth and has been a critical component of virtual care delivery to millions nationwide.

Aniq Rahman, founder and CEO of Fabric, expressed enthusiasm about the acquisition: “This acquisition aligns with our strategic vision to transform healthcare delivery through innovative technology and exceptional patient care. The combination of our teams, technology, and clinicians strategically positions Fabric to quickly expand across payers, employers, and provider organizations.”

The acquisition not only enhances Fabric’s portfolio but also builds on a previous technology partnership between Fabric and MeMD that streamlined patient intake and documentation processes. As a result of the acquisition, MeMD customers will benefit from Fabric’s advanced clinical intelligence and automation, which aim to reduce healthcare costs while maintaining high standards of care.

Fabric is committed to a seamless transition for MeMD’s existing patients, partners, and clinicians. The integration of MeMD’s expertise and resources is expected to further improve and extend comprehensive, cost-effective healthcare solutions to millions of patients.

In addition to this acquisition, Fabric has recently closed a US$60Mn Series A funding round. The company has grown from eight to over 200 employees in under two years, extending services across more than 75 enterprise health organizations.

Fabric's care enablement system utilizes AI to optimize healthcare delivery, making it a pivotal addition to Fabric's strategy of enhancing access to efficient and affordable healthcare solutions.