Davis Polk advised the initial purchaser in connection with a Rule 144A offering by Teladoc, Inc. of $275 million aggregate principal amount of its 3.00% convertible senior notes due 2022. Teladoc intends to use the net proceeds from the offering to finance, in part, its $440 million acquisition of Best Doctors Holdings, Inc.

Founded in 2002, Teladoc is the nation’s first and largest telehealth program, allowing its over 20 million members to speak to a licensed doctor by web, phone or mobile app in under 10 minutes. Teladoc is listed on the New York Stock Exchange under the symbol “TDOC.”

The Davis Polk corporate team included partner John B. Meade and associates Jennifer Ying Lan, Andrew J. Terjesen and Mahfouz Basith. The Davis Polk equity derivatives team included partner Ray Ibrahim, counsel Justin Michael and associate Maria C. Salame. Partner Lucy W. Farr provided tax advice. All members of the Davis Polk team are based in the New York office. 

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