The market balked at the deal, with shares of Teladoc falling 19%, to $202.01 on Wednesday. The company's share price had tripled from the start of the year through Tuesday. Gorevic will lead the combined entity, which will keep the Teladoc name and continue to be based in Purchase. Its board will be made up of eight Teladoc board members and five Livongo board members. It will be led by Teladoc Chairman David Snow. The combined company is expected to generate $1.3 billion in annual revenue.