$TDOC several things bears will harp on: 1) why now when RFP season & flu season were so strong and you’re muddying the waters?; 2) InTouch is 30% hardware sales which is not as attractive as software recurring revenue; and 3) 7.5x EV/sales is lower than TDOC’s >11x, which means multiple dilution on a blended basis. On the bull side, long-term this cements TDOC’s provider setting footprint but stock won’t get paid on that until maybe 2H20.
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