Teladoc Health
was rising Tuesday after the company said it was expanding a partnership with
Microsoft
to use the tech giant’s artificial-intelligence technology. It’s a sorely needed boost for the virtual-healthcare company which has fallen out of favor with investors.
Teladoc
(ticker: TDOC) said the integration of
Microsoft’s
(MSFT) AI technology would automate the creation of clinical documentation during virtual exams.
Teladoc
shares were up 3% at $25.72, having earlier risen above $27.
The stock has gained 8.6% this year so far but has collapsed from heights of more than $290 reached during the Covid-19 pandemic, as the surge of interest in virtual healthcare has faded and the company delivered some disappointing guidance for this year.
“We are pleased to continue our collaboration with Teladoc Health, leveraging innovative technologies to help make it easier for clinicians to deliver care virtually and enhance the patient experience,” said Tom McGuinness,
Microsoft’s
corporate vice president for Global Health & Life Sciences, in a statement.
Write to Adam Clark at [email protected]
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