Herndon, Virginia-based SOC Telemed, a national provider of specialty acute care telemedicine services, announced on September 1 its acquisition of Hamilton Township, New Jersey-based Forefront Telecare. The transaction expands SOC Telemed’s behavioral health offering, provider network and clinical capabilities. In conjunction with the acquisition, SOC Telemed is being renamed Access TeleCare. Forefront Telecare will operate as an Access TeleCare company focused on behavioral health.
MTS Health Partners, L.P. served as financial advisor and Sheppard Mullin served as legal counsel to Forefront Telecare. Kirkland & Ellis LLP served as legal advisor to SOC Telemed.
Forefront Telecare is a provider of virtual behavioral health solutions for seniors and other vulnerable adults. The company provides telepsychiatry and teletherapy care for patients in hospitals, long-term care and home health settings.
SOC Telemed, formerly Specialists On Call, Inc., provides telemedicine, neurology, psychiatry, critical care and managed services solutions. It offers 24/7 coverage and serves more than 300 hospitals in the U.S. SOC Telemed was acquired by Patient Square Capital in February 2022.
According to the LevinPro HC database, this marks the 244th eHealth deal of 2022 and the 43rd transaction in the telehealth subsector. The largest telehealth deal of the third quarter was Vancouver-based TELUS Corporation’s acquisition of Toronto-based LifeWorks, a digital and in-person solutions provider, for C$2.9 billion, or approximately $2.2 billion USD.
