Teladoc Inc. (NYSE: TDOC) was set to be the first initial public offering (IPO) of its kind. The company claims to be the first and largest telehealth provider in the nation, and it said it was founded back in 2002. Teladoc was a very well received IPO to boot. It sold 8.3 million shares at $19.00 per share, above the $15.00 to $17.00 price range and above the initial 7 million shares first indicated.

The company sent a note showing that the IPO will shine a spotlight on anywhere and anytime health care delivery that lowers costs. Teladoc connects patients with board certified doctors around the clock via telephone and/or video conference.

The company’s said that Teladoc physicians conducted approximately 300,000 patient sessions that included diagnosis, treatment recommendations and, when necessary, medicinal prescriptions in 2014. Teladoc also estimates that the public’s frustration with emergency room visits, physician shortages and long waits for appointments will serve as a platform for long-term growth.

Benefits from this effort include information technology making telehealth possible, and that telehealth is lowering costs for employers and patients at the same time it improves access and increasing income for doctors.

JPMorgan and Deutsche Bank Securities were Teladoc’s joint book-running managers for the offering. William Blair, Wells Fargo Securities and SunTrust Robinson Humphrey were the co-managers. These underwriters were granted a 30-day overallotment option to purchase up to an additional 1,237,500 shares of Teladoc common stock.

Teladoc shares were shown to have opened at $29.95 and had traded nearly 6 million shares by 11:00 a.m. Eastern Time.

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Teladoc’s IPO filing showed the following in its about the company and industry section:

Our solution connects consumers, or our Members, with our over 1,100 board-certified physicians and behavioral health professionals, or our Providers, who treat a wide range of conditions and cases from acute diagnoses such as upper respiratory infection, urinary tract infection and sinusitis to dermatological conditions, anxiety and smoking cessation. Nearly 11 million unique Members now benefit from access to Teladoc 24 hours a day, seven days a week, 365 days a year, at a cost of $40 per visit. Our solution is delivered with a median response time of less than ten minutes from the time a Member requests a telehealth visit to the time they speak with a Teladoc physician. We completed approximately 300,000 telehealth visits in 2014. … We currently serve over 4,000 employers, health plans, health systems and other entities.

As far as revenues are concerned, the company’s IPO filing said:

We generated $19.9 million and $43.5 million in revenue for the years ended December 31, 2013 and 2014, respectively, representing 119% year-over-year growth, and $9.4 million and $16.5 million for the three months ended March 31, 2014 and 2015, respectively, representing 75% year-over-year growth. For the three months ended March 31, 2015, 80% and 20% of our revenue were derived from subscription access fees and visit fees, respectively, and for the year ended December 31, 2014, 85% and 15% of our revenue were derived from subscription access fees and visit fees, respectively.

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