Reston-based SOC Telemed buys Texas telehealth practice for $194M

Reston-based SOC Telemed Inc. announced this week it has purchased Texas-based medical practice Access Physicians for $194 million in cash and stocks. The acquisition will create the largest acute care telemedicine provider in the United States. According to SOC Telemed, the combined company is estimated to have earned $107 million to $113 million in pro forma annual revenue in 2021, and it serves almost 1,000 facilities, including more than 700 hospitals, in 47 states.