A rising elderly population in England, together with the prevalence of long-term chronic health conditions and higher demands for social care, raise significant issues in terms of financing the provision of telehealthcare services. These emerging technologies can potentially provide more meaningful opportunities for operational efficiency and cost savings by supporting ‘ageing in place’, as opposed to an increasing reliance on commissioning expensive institutional provisions such as care homes. Accordingly, policymakers advocate the provision and implementation of telehealthcare services on an increased population scale. This study employs an investigative framework that brings together two interdisciplinary and complementary theoretical frames, synthesised from the existing literature on business models and service innovation. Using the principles of Critical Realism (CR) to inform a qualitative case study research design, we empirically contextualise our value-driven investigative framework and present our findings that identify four main themes, namely (i) Nature of the service, (ii) Advocacy and collaborations, (iii) Organisational characteristics, and (iv) Technology and Information systems. These four themes emerging from the empirical investigation concern value proposition, value co-creation and value realisation within a service and inform our next stage of CR analysis – to unearth the hidden structures and causal mechanisms and to better explain the underlying reality within a service ecosystem.