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American Well Corporation (NYSE: AMWL), commonly known as Amwell, is a pioneering force in the telehealth industry, delivering comprehensive digital healthcare solutions both in the United States and globally. Amwell integrates providers, insurers, patients, and innovators through its state-of-the-art hybrid care enablement platform, aimed at providing greater access to more affordable and high-quality care.
Amwell’s platform supports a wide range of telehealth needs, encompassing urgent care, acute and post-acute care, behavioral health, chronic care management, and healthy living. With nearly two decades of expertise, the company powers digital care solutions for over 2,000 hospitals and 55 health plan partners, collectively reaching over 100 million covered lives.
In recent developments, Amwell has showcased impressive growth and resilience. Their third quarter of 2023 revenue totaled $61.9 million, with notable achievements such as a net loss reduction and an improved Adjusted EBITDA. The company recently secured a significant contract to support the U.S. Defense Health Agency’s Digital First initiatives, underlining the robustness and scalability of their Converge™ platform.
Another milestone was the recognition of SilverCloud®, Amwell’s digital mental health platform, with three prestigious healthcare honors. SilverCloud continues to make a significant impact in mental health support globally, offering 24/7 access to therapeutic care.
In addition, Amwell is actively pursuing innovative partnerships, such as the collaboration with Amplar Health in Australia to expand digital care and chronic disease prevention programs. This partnership emphasizes Amwell’s dedication to proactive healthcare models that leverage patient-generated data for improved outcomes.
Despite challenges, including compliance with NYSE listing standards and competitive pressures, Amwell remains committed to evolving its platform capabilities and operational efficiencies. The company’s recent Corporate Responsibility Report underscores its dedication to environmental, social, and governance (ESG) goals, highlighting meaningful progress in diverse talent representation, health equity initiatives, and cybersecurity enhancements.
For more insights into Amwell’s operations, financial performance, and upcoming events, visit their investor relations page at https://investors.amwell.com.
Amwell (NYSE: AMWL) has announced that CFO Mark Hirschhorn will expand his role to include Chief Operating Officer responsibilities, effective January 1, 2025. While maintaining his CFO duties, Hirschhorn will oversee operational and growth strategies, including clinical, sales, and marketing teams. The company aims to streamline its portfolio and pursue profitable growth, targeting cash flow positivity by 2026.
As part of the organizational restructuring, two executives will depart at year-end: Chief Commercial and Growth Officer Kathy Weiler and current COO Kurt Knight. Weiler contributed to cost initiatives and growth organization transformation, while Knight's 14-year tenure included key roles in strategy, M&A, IPO, COVID-19 operations scaling, and managing Amwell Medical Group.
Amwell (NYSE: AMWL) announced equity compensation grants to new employees under its Inducement Plan. The company granted 254,227 restricted stock units (RSUs) to Mark Hirschhorn, its new CFO, with 25% vesting immediately and the remaining 75% vesting quarterly over three years. Hirschhorn is also eligible for an additional $5 million grant subject to EBITDA targets and company valuation goals, vesting annually over four years. Additionally, 5,084 RSUs were granted to two other new employees, with 25% vesting after one year and the remaining 75% vesting quarterly over three years.
Amwell (NYSE: AMWL), a leading provider of healthcare software as a service, reported its third quarter 2024 financial results for the period ending Sept. 30, 2024. The company will host a conference call today at 5 p.m. ET to discuss these results. The call can be accessed via a live audio webcast on Amwell's investor relations website or by dialing 1-888-510-2008 for U.S. participants and 1-646-960-0306 for international participants, using conference ID number 7830032. A replay will be available shortly afterward on the same website.
Amwell (NYSE: AMWL), a digital care leader, has announced its participation in four upcoming investor conferences in November and December 2024. Chairman and CEO Ido Schoenberg and CFO Mark Hirschhorn will engage in fireside chats and one-on-one meetings at these events.
The schedule includes the UBS Global Healthcare Conference in Palos Verdes on Nov. 12, the Needham Consumer Tech Conference on Nov. 20, the BTIG Virtual Health Forum on Nov. 25, and the Piper Sandler Healthcare Conference in New York on Dec. 4. Audio webcasts of the fireside chats will be accessible at investors.amwell.com.
Amwell (NYSE: AMWL), a digital care leader, has announced Mark Hirschhorn as its new Chief Financial Officer (CFO), effective October 21. Hirschhorn, with over 30 years of experience in healthcare technology, will oversee Amwell's financial operations, optimization, and capital allocation activities. He succeeds Robert Shepardson, who has held the position since 2021.
Hirschhorn's appointment marks a shift for Amwell as it moves from intense R&D investment to an operational focus on efficiency, cash flow optimization, and profitable growth. His experience includes roles as CEO at TapestryHealth and CFO/COO positions at Teladoc Health and Talkspace. Amwell's CEO, Dr. Ido Schoenberg, expressed confidence in Hirschhorn's ability to lead the company for the benefit of all stakeholders.
Amwell® (NYSE: AMWL), a digital care leader, has announced it will release its third quarter 2024 operating results on Wednesday, October 30. Following the earnings alert distribution, the company's management team will host a live conference call and webcast at 5 p.m. ET to discuss the results and provide a business update. Investors can access the full earnings report and live audio webcast through the Investors section of Amwell's website. A replay of the webcast will be available at investors.amwell.com for approximately 90 days after the call.
Amwell (NYSE: AMWL) has announced a partnership with Hello Heart, integrating the digital preventive heart health solution into its clinical programs portfolio on the Amwell Converge™ platform. This collaboration allows Amwell health plan clients to offer their employer accounts Hello Heart's cardiovascular solution to eligible members with high blood pressure, high cholesterol, or other cardiovascular disease risk factors.
Members can access Hello Heart's solution through their existing Amwell-powered offering, alongside virtual primary care, urgent care, behavioral health, and other clinical programs. The program provides users with a connected blood pressure monitor and an app offering personalized daily coaching and metric tracking. This integration aims to address the clinical and financial burden of heart disease, which costs health plans an average of $12,500 per member per year.
Amwell (NYSE: AMWL), a leader in hybrid care enablement, has announced its participation in several investor conferences this September. Key events include:
• Morgan Stanley 22nd Annual Global Healthcare Conference in New York City on September 4, featuring a fireside chat at 1:50 p.m. ET
• Wells Fargo Healthcare Conference in Boston on September 5 (one-on-one meetings only)
• Baird Healthcare Conference in New York City on September 10, with one-on-one investor meetings
• TD Cowen 9th Annual FutureHealth Conference in New York City on September 10, including a panel discussion at 2:20 p.m. ET
Ido Schoenberg, M.D., Amwell's chairman and CEO, and Robert Shepardson, CFO, will represent the company. Audio webcasts of the Morgan Stanley fireside chat and TD Cowen panel will be available at investors.amwell.com.
Amwell (NYSE: AMWL), a small-cap growth healthcare company specializing in healthcare software as a service, has released its financial results for the second quarter of 2024, ending June 30. The company has made the detailed earnings report available on its investor relations website. Amwell will host a conference call on July 31, 2024, at 5 p.m. ET to discuss the financial results. Interested parties can access the call via a live audio webcast or by dialing in, with separate numbers provided for U.S. and international participants. A replay of the call will be available on the company's website after the event concludes.
Amwell® (NYSE: AMWL), a leader in hybrid care enablement, has announced it will report its second quarter 2024 operating results on Wednesday, July 31. The company will host a live conference call and webcast at 5 p.m. ET on the same day to review the results and provide a general business update. Investors can access the audio webcast through the Investors section of Amwell's website or join the conference call using the provided phone numbers. A replay of the webcast will be available at investors.amwell.com for approximately 90 days after the event.
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