Amwell Expands Partnership with Tyto Care to Extend Healthcare at Home

Rhea-AI Summary

Amwell (NYSE: AMWL) is expanding its partnership with Tyto Care to improve remote medical exams. The collaboration will introduce new integrations and workflows, enhancing virtual care capabilities for providers. Amwell will also become a reseller of Tyto Care's examination devices, offering tools for comprehensive health assessments. The initiative aims to provide more holistic care, especially for urgent and primary needs, as telehealth adoption increases during the COVID-19 pandemic. Amwell services will reach thousands of clients, enhancing patient-provider interactions remotely.

Positive

• Expansion of partnership with Tyto Care enhances Amwell's telehealth offerings.
• New integrated devices and workflows improve remote patient examination capabilities.
• Potential for increased customer satisfaction with enhanced virtual care tools.
• Direct resale of Tyto Care devices increases revenue opportunities for Amwell.

Negative

• None.

BOSTON, Sept. 30, 2020 /PRNewswire/ -- Amwell® (NYSE: AMWL), a national telehealth leader, today announced it is expanding its partnership with Tyto Care, the healthcare industry's first all-in-one modular device and examination platform for AI-powered, on-demand, remote medical exams. Together the companies will introduce exclusive integrations and newly designed workflows and tools to enhance the ability for providers using the Amwell platform to examine and diagnose patients virtually. Additionally, Amwell will become a reseller of Tyto Care's integrated devices.    

By pairing the TytoHome handheld examination device – which enables on-demand examinations of the heart, lungs, abdomen, skin, throat, ears, heart rate, and body temperature – with Amwell's telehealth platform, providers can guide patients through virtual health examinations and together gain real-time insight into a patient's health data and status directly in the visit. For patients and providers, this will augment the virtual care experience and more broadly enrich the capabilities and overall satisfaction associated with healthcare organizations' virtual care applications. This enriched workflow will be available to thousands of Amwell hospitals, health systems, health plans and employer clients who collectively serve millions of patients.  

"As COVID-19 wages on and more patients and providers adopt telehealth, it's critical that we accelerate the depth of care that can be provided in the home – to keep patients and providers safe," said Roy Schoenberg, President and Co-CEO, Amwell. "Our latest integration with Tyto Care will allow providers to clinically come closer than ever before to patients during telehealth encounters, allowing them to see, interact, examine and deliver care in ways that growingly resemble in-person care."

"Our longstanding partnership with Amwell exemplifies our shared goal of providing deeply integrated telehealth solutions that put health in the hands of consumers, creating a more impactful and seamless healthcare experience for both patients and providers," said Dedi Gilad, CEO and Co-Founder, Tyto Care. "The integration with TytoHome will enable Amwell to offer more holistic care for patients, especially for urgent and primary care needs, as well as help to enable better adherence to treatment plans. We look forward to continuing our work together as we realize the full potential of clinic-quality, at-home care in this new era of telehealth."

As a resale partner of Tyto Care, Amwell clients can now purchase TytoCare devices, bundled with the livestream integration directly through Amwell. For more information please visit: https://business.amwell.com/telemedicine-equipment/tytocare/

About Tyto Care

Tyto Care is a telehealth company using AI to transform primary care by putting health in the hands of consumers. Tyto Care seamlessly connects people to clinicians to provide the best virtual home examination and diagnosis solutions. Its solutions are designed to enable a comprehensive medical exam from any location and include a hand-held, all-in-one tool for examining the heart, lungs, skin, ears, throat, abdomen, and body temperature; a complete telehealth platform for sharing exam data, conducting live video exams, and scheduling visits; a cloud-based data repository with analytics; and built-in guidance technology and machine learning algorithms to ensure accuracy and ease of use for patients and insights for healthcare providers. Co-founded by Dedi Gilad and Ofer Tzadik in 2012, Tyto Care has FDA and CE clearances and has partnered with over 100 major health systems, health plans, and strategic partners in the U.S., Europe, Asia, and Israel. To watch a demo video, click here.

For more information, please visit https://www.tytocare.com/.

About Amwell

Amwell is a leading telehealth platform in the United States and globally, connecting and enabling providers, insurers, patients, and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that digital care delivery will transform healthcare. The Company offers a single, comprehensive platform to support all telehealth needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With over a decade of experience, Amwell powers telehealth solutions for over 2,000 hospitals and 55 health plan partners with over 36,000 employers, covering over 80 million lives. For more information please visit https://business.amwell.com/.

American Well, Amwell, and The Exchange are registered trademarks or trademarks of American Well Corporation in the United States and other countries. All other trademarks used herein are the property of their respective owners.

Forward-Looking Statements

This press release contains forward-looking statements about us and our industry that involve substantial risks and uncertainties and are based on our beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations, financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," or "would," or the negative of these words or other similar terms or expressions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements represent our beliefs and assumptions only as of the date of this release.  These statements, and related risks, uncertainties, factors and assumptions, include, but are not limited to: weak growth and increased volatility in the telehealth market; inability to adapt to rapid technological changes; increased competition from existing and potential new participants in the healthcare industry; changes in healthcare laws, regulations or trends and our ability to operate in the heavily regulated healthcare industry; our ability to comply with federal and state privacy regulations; the significant liability that could result from a cybersecurity breach; and other factors described under 'Risk Factors' in the prospectus for our IPO filed with the SEC. These risks are not exhaustive. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Further information on factors that could cause actual results to differ materially from the results anticipated by our forward-looking statements is included in the reports we have filed or will file with the Securities and Exchange Commission. These filings, when available, are available on the investor relations section of our website at investors.amwell.com and on the SEC's website at www.sec.gov.

Amwell Press Contact
Holly Spring, Amwell
Holly.spring@amwell.com 
781.888.8219

Tyto Care Press Contact
Allison Grey
Headline Media
allison@headline.media
+1.323.283.8176

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SOURCE Amwell

FAQ

What is the recent partnership expansion between Amwell and Tyto Care?

Amwell is expanding its partnership with Tyto Care to introduce new integrations and workflows for remote medical exams.

How will the partnership benefit Amwell's telehealth platform?

The partnership will enhance virtual care capabilities, enabling providers to conduct more comprehensive health assessments remotely.

What products will Amwell offer through Tyto Care?

Amwell will resell Tyto Care's integrated examination devices, enhancing its telehealth services.

When was the partnership expansion announced?

The partnership expansion was announced on September 30, 2020.

What is the stock symbol for Amwell?

Amwell's stock symbol is AMWL.