LVGO - Will This Be the Next Big Healthcare IPO?
Many patients who first used telemedicine during COVID-19 containment measures such as quarantines and lockdowns are now rapidly adopting it as a regular part of accessing healthcare. Consumers are realizing that virtual physician visits have many benefits, including saving time on travel to a doctor's office and being able to express health concerns from the comfort of your own home. In six years' time, the global telemedicine market is poised to reach $175 billion, from $45 billion last year.
One of the most anticipated IPOs this year is that of Amwell, a telemedicine company that received a $100 million investment from Alphabet (NASDAQ: GOOGL) subsidiary Google to expand its virtual platform. While Amwell has yet to disclose the exact price and number of shares to be offered in the IPO, which it confidentially filed for in June, investors are already excited about the company's outlook.
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