Teladoc, which provides on-demand medical care through video/telephone consultations, announced terms for its IPO on Thursday.
The Purchase, NY-based company plans to raise $112 million by offering 7 million shares at a price range of $15 to $17. At the midpoint of the proposed range, it would command a fully diluted market value of $573 million.
Teladoc, which was founded in 2002 and booked $51 million in sales for the 12 months ended March 31, 2015, plans to list on the NYSE under the symbol TDOC. J.P. Morgan and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of June 29, 2015.
