Telehealth providers slip as Amazon Care goes nationwide
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Virtual care companies, Teladoc (TDOC
-4.0%), American Well (AMWL
-4.4%) and Hims & Hers Health (HIMS
-0.6%) are trading lower on Tuesday after e-commerce giant Amazon (NASDAQ:AMZN) announced a nationwide rollout of its telehealth service, known as Amazon Care.

Amazon Care, which offers a combination of in-person and virtual care, has already signed up multiple new clients for the business, CNBC reports.
In addition, later this year, the Seattle, Washington-based company is planning to expand its in-person care arm to as many as 20 cities, including New York City, San Francisco, Miami, and Chicago, from the eight cities it currently serves.
Launched as a pilot program in 2019 for its employees in and around the companyâs Seattle headquarters, Amazon Care has since broadened its scope to offer primary care services.
Read: Two Wall Street firms moved to lower the price target of Teladoc (NYSE:TDOC) amid Amazonâs (AMZN) expansion drive for its telehealth service.