Amwell Underscores Commitment to Driving Positive Impact with Environmental, Social and Governance Framework

Rhea-AI Summary

Amwell (NYSE: AMWL) has launched its inaugural Environmental, Social and Governance (ESG) Framework, emphasizing its commitment to sustainable growth. The Framework focuses on three pillars: People, promoting talent development and wellbeing; Products, enhancing digital care delivery through its Converge™ platform; and Operations, ensuring high ethical standards and robust data privacy. CEO Dr. Ido Schoenberg stated this marks a significant milestone in Amwell's ESG journey, with plans for transparency and progress updates in the future.

Positive

• Launch of the inaugural ESG Framework indicates a commitment to sustainability and transparency.
• Focus on talent development, diversity, and community service enhances company culture.
• The Converge™ platform aims to improve clinical outcomes and patient experiences.

Negative

• Forward-looking statements caution against risks in the telehealth market, such as weak growth and increased volatility.
• Competition in the healthcare industry may hinder operational growth.
• Potential cybersecurity threats pose significant liability risks.

BOSTON--(BUSINESS WIRE)-- Amwell®, (NYSE: AMWL) a digital care delivery leader, today announced the release of its inaugural Environmental, Social and Governance (“ESG”) Framework. The Framework provides insight into the Company’s business, across three key areas: people, products, and operations, as viewed through an ESG lens.

“ESG is fundamental to the Amwell mission to connect and enable healthcare organizations to deliver greater access to more affordable, higher quality care. This mission and our values are core to who we are and serve as the foundation on which we strive to build a sustainable growth business and promote the long-term interests of our clients and stakeholders,” said Dr. Ido Schoenberg, Chairman and CEO, Amwell.

The Amwell ESG Framework showcases Amwell in the context of environmental, governance and social topics, highlighting the Company’s dedication to quality, innovation, diversity, integrity, equity, wellbeing, ethical business practices, data privacy and enterprise risk management. The Amwell approach to ESG is defined by three pillars:

• People – Embodying all aspects of the Amwell One Team culture, Amwell prioritizes talent development & engagement, mental & physical wellbeing, diversity & inclusion, and community service in its hiring, total rewards, and employee experience.
• Products – Embodying all aspects of the Amwell Customer First commitment, Amwell focuses on supporting and enabling the key stakeholders in healthcare to achieve their digital care delivery ambitions, while improving clinical and financial outcomes and enhancing the care experience for patients, members and clinicians with its enterprise, digital care delivery enablement platform Converge™.
• Operations – Embodying all aspects of the Amwell Deliver Awesome approach, the foundation of the Amwell business is built on high ethical standards and strong governance with a deep commitment to keeping customers’ and employees’ data and systems safe through robust cybersecurity and data privacy protocols.

Dr. Schoenberg concluded, “This framework marks an important milestone in Amwell’s ESG journey. We are proud to share the strides we have made so far, and our goal is to make an even bigger impact in the future. Amwell is committed to being transparent as we continue along this path, and we plan to highlight our ESG progress in future publications.”

The Amwell ESG Framework can be found on our Investor Relations website.

About Amwell

Amwell is a leading digital care delivery enablement 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, Converge, SilverCloud, Conversa 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/20220907005246/en/

Media:

Lindsay Sharifipour

esg@amwell.com

Investors:

Sue Dooley

esg@amwell.com

Source: Amwell

FAQ

What is the AMWL ESG Framework?

The AMWL ESG Framework is Amwell's inaugural framework highlighting its dedication to environmental, social, and governance practices across its operations.

When was the AMWL ESG Framework released?

The AMWL ESG Framework was announced in September 2022.

How does AMWL plan to implement its ESG initiatives?

AMWL plans to implement its ESG initiatives through three pillars: People, Products, and Operations, focusing on talent, healthcare delivery, and ethical governance.

What risks are associated with AMWL's future performance?

AMWL faces risks such as weak growth in the telehealth market, increased competition, and potential cybersecurity threats.

Where can I find more information about AMWL's ESG efforts?

More information about AMWL's ESG efforts can be found on their Investor Relations website.