Teladoc plans $360 million in debt financing for Best Doctors buy

By Sara Rosenberg

New York, June 20 – Teladoc Inc. has received a commitment for $360 million of debt financing to help fund its acquisition of Best Doctors and refinance existing debt, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Jefferies Finance LLC is the lead on the deal.

Under the agreement, Best Doctors is being bought for $375 million in cash and $65 million of Teladoc common stock.

Other funds for the transaction will come from cash on hand.

Closing is expected by the end of July, subject to regulatory approvals and customary conditions.

Teladoc is a Purchase, N.Y.-based telehealth platform. Best Doctors is a Boston-based medical consultation company.

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