SPI Digital Health: Now Fabric Weaves Walmart’s Telehealth Business into its Portfolio

Walmart’s retreat from virtual care has taken another stride. This time, the sale of its MeMD telehealth business to health tech business Fabric.

As the US retail giant cuts its losses from an industry from which it was unable to make money, Fabric’s motives for buying MeMD, which Walmart acquired in 2021 and operated as Walmart Health Virtual Care, warrant closer inspection.

Fabric’s been one to watch over the last year or so. Known as Florence until last year, it was renamed and then appeared to have a new lease of life, buying asynchronous telecare company Zipnosis in May 2023, and then …