Virtual care company Teladoc to buy Livongo in $18.5 billion deal

(Reuters) – Teladoc Health said on Wednesday it would buy Livongo Health Inc in a deal valued at $18.5 billion, in a bid to create a leader in virtual care.

Under the terms of the cash-and-stock deal, Livongo shares are valued at $158.98, a 10% premium to their closing price on Tuesday.

(Reporting by Manas Mishra in Bengaluru; Editing by Shinjini Ganguli)