In international relations, a proxy war is an armed conflict between two smaller groups each representing the interests of larger nations. Two recent examples saw the U.S. and Iran supporting opposing factions in Iraq in the mid-2010s and the U.S and Russia doing the same in Afghanistan during the early 1990s.
Although the stakes are not comparable, there may be similarities in how the telehealth industry takes shape over the next decade. Fast-growers Teladoc (NYSE:TDOC) and American Well (NYSE:AMWL) (recently rebranded as Amwell) are getting a lot of attention due to their recent transactions: an acquisition and an IPO, respectively. But technology giants Apple (NASDAQ:AAPL) and Google parent Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) are taking up positions that may make telehealth players pawns in a larger battle. […]