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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), a leader in telehealth, will report its fourth quarter and full year operating results for 2020 on March 24, 2021. A live conference call and webcast will follow at 5:00 p.m. ET to discuss these results and provide a business update. Interested parties can access the webcast via the investors.amwell.com website or call (833) 979-2840 for the live call. The company supports over 2,000 hospitals and 55 health plans, covering 80 million lives with telehealth solutions.
Amwell (NYSE: AMWL) has announced the launch of the Hospital TV 100, a new Carepoint device aimed at enhancing telehealth connectivity in hospitals. This device allows hospitals to use existing televisions as telehealth endpoints, enabling care teams to monitor patients remotely without additional infrastructure costs. With over 1,200 installations across 50 locations at Intermountain Healthcare, this innovation addresses strained resources amid the COVID-19 pandemic. Amwell continues to expand its telehealth services, underscoring its commitment to improving healthcare accessibility.
Amwell (NYSE: AMWL) announced a public offering of 11,280,647 shares of its Class A common stock at a price of $27.50 per share, led by certain stockholders. The offering includes a 30-day option for underwriters to purchase an additional 1,692,097 shares. Notably, Amwell will not receive any proceeds from this offering. The transaction is expected to close on January 20, 2021, subject to customary conditions. The offering is led by Morgan Stanley, Goldman Sachs, Piper Sandler, and UBS Investment Bank, with the registration statement effective since January 14, 2021.
Amwell (NYSE: AMWL) announced the commencement of its public offering roadshow, involving the sale of 11,280,647 shares of Class A common stock by certain Selling Stockholders. An additional 1,692,097 shares may be purchased by underwriters. Amwell will not receive proceeds from this offering, which is led by Morgan Stanley and Goldman Sachs. A registration statement has been filed with the SEC, pending effectiveness. This move highlights Amwell's focus on expanding its telehealth services, which already connect over 80 million lives.
Amwell (NYSE: AMWL) has announced the launch of Amwell Psychiatric Care, a new telepsychiatry solution aimed at hospitals and health systems to address the escalating demand for behavioral healthcare in the U.S. This service offers 24/7 access to board-certified psychiatrists and seeks to improve patient throughput in emergency departments. Asana Integrated Medical Group, part of Amwell since 2019, has received The Joint Commission's Gold Seal for Behavioral Healthcare Accreditation, reinforcing Amwell's commitment to quality care in the mental health sector.
Amwell (NYSE: AMWL) announced new leadership appointments, with Egbert van Acht as Executive Vice Chairman and Frank McGillin as CEO. This joint venture with Cleveland Clinic aims to enhance digital health services, especially in telemedicine, which has surged during the COVID-19 pandemic. The company focuses on offering high-acuity care via its MyConsult platform, supporting over 2,000 conditions. Both leaders bring extensive experience from global organizations, highlighting the company's strategy to leverage Cleveland Clinic's expertise and Amwell's technology for improved patient care.
Amwell (NYSE: AMWL) announced the participation of Ido Schoenberg and Keith Anderson in the 32nd Annual Piper Sandler Virtual Healthcare Conference from December 1-3, 2020. They will engage in a fireside chat on December 3 at 1:00 p.m. EDT. A live audio webcast, along with a replay, will be accessible on Amwell's investor relations website for approximately 90 days following the presentation.
Amwell is a leading telehealth platform, empowering over 2,000 hospitals and 55 health plan partners. The company connects providers and patients, delivering affordable, high-quality healthcare.
Amwell, a telehealth leader (NYSE: AMWL), announced its Q3 2020 financial results, showing significant growth amid increased telehealth demand. Total active providers surged to ~62,000, with total visits reaching ~1.41 million, up from 255,000 YOY. Total revenue was $62.6 million, compared to $34.7 million last year, driven by strong subscription and visit revenues. However, gross margin declined to 32.7% from 45.1%, and the net loss expanded to $(64.6) million from $(24.1) million. The company expects full-year revenue between $235 and $239 million.
Amwell (NYSE: AMWL) has announced new telehealth products including Amwell Now, Touchpoint Tablet software, and the C500 telemedicine cart to enhance virtual care delivery amid the ongoing COVID-19 pandemic. These offerings aim to simplify and integrate telehealth services for healthcare providers and patients, improving accessibility and efficiency. Amwell Now provides quick video visit capabilities, while the Touchpoint software enables bedside video connectivity. The C500 cart features advanced technology for remote exams, supporting diverse healthcare specialties.
Amwell (NYSE: AMWL) has achieved full URAC Accreditation in Telemedicine, reinforcing its commitment to quality virtual care during the ongoing pandemic. This independent accreditation, awarded for the second time, showcases Amwell's adherence to URAC's rigorous standards for safety, privacy, and quality in healthcare delivery. Ido Schoenberg, Co-CEO of Amwell, emphasized that this accreditation ensures their clients and patients can trust in their telehealth services. URAC's President highlighted the significance of this achievement in promoting value-based care access amidst rapid changes in the telehealth industry.
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