Teladoc has acquired UpLift, a virtual mental health provider, for $30 million in an effort to expand its virtual mental health services despite struggles with its BetterHelp segment. The acquisition, announced alongside Teladoc’s Q1 2025 earnings, aims to improve BetterHelp’s customer base by allowing insurance coverage for mental health services, addressing a key barrier to adoption. While Teladoc posted a net loss of $93 million for Q1 and BetterHelp saw an 11% revenue decline, executives expect the acquisition to boost customer conversion rates and increase member engagement. The deal also highlights Teladoc’s continued focus on virtual mental health care as a growing sector post-pandemic, with the goal of making therapy more accessible and driving revenue growth. (Articles here, here, and here)