Amwell Extends Technology Leadership Team

Rhea-AI Summary

Amwell (NYSE: AMWL) announces key executive appointments, bringing a combined 40 years of experience to its leadership team. Vaughn Paunovich joins as Executive Vice President of Enterprise Platforms, focusing on technological delivery and innovation for the Converge platform. Matthew McAllister takes on the role of Chief Product Officer, overseeing product management and design. CEO Roy Schoenberg emphasized the importance of these roles amidst the digital transformation in healthcare, positioning Amwell as a partner in meeting customer needs for integrated technological solutions.

Positive

• Appointment of Vaughn Paunovich and Matthew McAllister expected to enhance leadership and innovation in digital healthcare.
• Vaughn's experience with Fortune 500 companies may accelerate strategic initiatives at Amwell.
• Matthew's background from Amazon brings extensive product and design experience to improve user engagement.

Negative

• Concerns about continuity and experience gaps with recent executive changes.

New executives bring more than 40 years combined experience delivering innovation and enterprise platform design

BOSTON--(BUSINESS WIRE)-- Amwell® (NYSE: AMWL), a digital care delivery leader, today announced the appointments of Vaughn Paunovich to the role of Executive Vice President, Enterprise Platforms, and Matthew McAllister to Chief Product Officer. Vaughn will oversee technological delivery and innovation, including for Converge™, Amwell’s enterprise grade digital care delivery platform, and Matthew will join Vaughn’s leadership team with responsibility for product management and design.

“We are experiencing a time of great transformation for Amwell and for our industry. Customers today no longer want to buy features. They want a partner who can assimilate deep knowledge, experience, and interoperable technology to solve for their current and future digital aspirations,” said Roy Schoenberg, CEO, Amwell. “As we complete some of the most strategic aspects of the build-out of Converge, our digital care delivery platform, we are excited to have Vaughn and Matthew join our executive team. Both bring unparalleled experience leading digital transformation initiatives for some of the world’s leading health and technology companies and will contribute meaningfully to our rapid innovation, working in partnership with our customers to deliver the best-in-class, future-ready experiences they desire.”

Vaughn has extensive experience leading platform design and product management and has a proven track record directing large scale transformation efforts for prominent Fortune 500 companies. He joins Amwell from UnitedHealth Group where he held a variety of leadership roles, including serving as the senior vice president of OptumLabs and the chief information officer for both OptumHealth and OptumCare.

“Healthcare is changing rapidly, and organizations are struggling amid workforce shortages, financial constraints and demands for better outcomes,” said Vaughn Paunovich, Executive Vice President, Enterprise Platforms, Amwell. “I believe in the unique approach Amwell is taking to empower and enable healthcare’s key stakeholders with an industry leading, comprehensive digital infrastructure platform. Amwell is well positioned as a powerful change agent to define and drive the future of digital healthcare.”

Matthew comes to Amwell after more than twelve years at Amazon, where he held various roles leading product, UX design, engineering, marketing and analytics teams. He brings to Amwell a background in creating innovative and intuitive software products and strategic initiatives that have consistently addressed critical user needs and achieved key business objectives.

“The benefit of digital healthcare offerings extends so far beyond the convenience of video calls with a clinician. Amwell is incredibly well-positioned to solve longstanding industry pain points through the innovative use of technology with our revolutionary new Converge platform,” said Matthew McAllister, Chief Product Officer, Amwell. “I am inspired by Amwell’s mission, and excited to lead this world-class product and design organization as we continue advancing the experience to ensure all patients, members and clinicians are able to seamlessly access high-quality, cost-effective healthcare from anywhere.”

About Amwell
Amwell is a leading digital care delivery 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 digital health 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 digital health 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, SilverCloud, Conversa, Converge and Carepoint 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 our most recent form 10-K 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220914005154/en/

Media

Lindsay Sharifipour

Press@amwell.com

Investors

Sue Dooley

Sue.dooley@investors.com

Source: Amwell

FAQ

What recent executive changes occurred at Amwell?

Amwell appointed Vaughn Paunovich as Executive Vice President of Enterprise Platforms and Matthew McAllister as Chief Product Officer.

What is the impact of the new executives on Amwell's strategy?

The new executives are expected to drive technological delivery and product management improvements, particularly for the Converge platform.

What are the backgrounds of Vaughn Paunovich and Matthew McAllister?

Vaughn joins from UnitedHealth Group with significant experience in platform design, while Matthew has over 12 years at Amazon, specializing in product and UX design.

How might these changes affect Amwell's performance in the market?

The leadership changes could lead to enhanced innovation and competitiveness in the rapidly evolving digital healthcare market.

What is the Converge platform at Amwell?

Converge is Amwell’s enterprise-grade digital care delivery platform aimed at improving healthcare technology integration.