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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 it will release its fourth quarter and full year 2024 operating results after market close on Wednesday, February 12, 2025. The company will host a conference call and webcast at 5:00 PM ET on the same day, where management will discuss the financial results and provide business updates. The earnings report and webcast will be accessible through the Investors section of Amwell's website, with a replay available for approximately 90 days at investors.amwell.com.
Amwell (NYSE: AMWL) has announced the addition of Vida Health to its clinical programs portfolio, expanding its virtual cardiometabolic care offerings. The new program, Amwell Cardiometabolic Care Powered by Vida, will provide obesity and diabetes care services, including GLP-1s and anti-obesity medications, through Amwell's platform to health plans and employers.
The program will offer personalized care considering social factors like food security, financial barriers, and cultural norms. Vida's services will integrate with Amwell's existing virtual primary care, urgent care, and behavioral health programs. The partnership aims to address the significant healthcare challenge of obesity, which affects over 40% of American adults and, combined with diabetes, costs the U.S. healthcare system more than $500 billion annually.
The collaboration focuses on delivering value-based, outcomes-driven care through lifestyle interventions and Medical Nutrition Therapy, providing members with a unified entry point for clinical and behavioral health support.
Amwell (NYSE: AMWL) has announced the sale of its Amwell Psychiatric Care (APC) business to Avel eCare for approximately $21M in cash, plus an additional earn-out payment. The divestment includes APC technology, personnel, and the Asana psychiatric clinical network.
The strategic move aims to sharpen Amwell's focus on key growth areas and its unified digital care platform. Through Amwell Medical Group (AMG), the company will continue providing behavioral health services, including AMG Therapy Services and SilverCloud digital behavioral health.
Amwell has reiterated its 2024 guidance, projecting:
- Revenue between $247-252 million
- Adjusted EBITDA between ($137)-($142) million
- AMG visits between 1.4-1.5 million
The company maintains its goal of achieving positive cash flow in 2026.
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.
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