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About American Well Corporation (Amwell)
American Well Corporation (NYSE: AMWL), widely known as Amwell, is a leading hybrid care enablement platform revolutionizing the healthcare industry by integrating technology to deliver accessible, affordable, and high-quality care. Headquartered in Boston, Amwell operates at the intersection of healthcare and technology, empowering providers, payers, patients, and innovators to seamlessly deliver care across the entire healthcare continuum. The company's platform supports diverse healthcare needs, including urgent care, chronic care management, behavioral health, post-acute care, and healthy living initiatives.
Core Offerings and Business Model
Amwell provides a single, comprehensive platform that combines virtual and in-person care to create a unified healthcare experience. Its offerings include on-demand and scheduled consultations, virtual primary care, musculoskeletal care, dermatology, and chronic disease management. The platform integrates third-party digital health solutions, such as Hello Heart for cardiovascular health and Vida Health for cardiometabolic care, enabling health systems and insurers to offer tailored, cost-effective, and outcome-driven programs to their members.
The company generates revenue through partnerships with over 50 health plans, representing more than 100 million covered lives, and collaborates with leading health systems comprising thousands of hospitals. Its SaaS-based model ensures scalability and adaptability, catering to the evolving needs of healthcare organizations. Amwell's robust ecosystem also includes its affiliated clinical partner, Amwell Medical Group, which delivers behavioral health and therapy services.
Industry Context and Market Position
Operating in the rapidly growing telehealth and digital health industry, Amwell is strategically positioned to address the global shift towards hybrid care delivery. With nearly two decades of experience, the company has established itself as a trusted partner for some of the largest and most sophisticated healthcare organizations worldwide. Its proprietary platform, Amwell Converge™, integrates advanced technologies to enhance care coordination, data exchange, and patient engagement, ensuring efficient and personalized healthcare delivery.
Amwell differentiates itself from competitors like Teladoc Health through its focus on a unified, interoperable platform that supports a wide range of clinical programs. By fostering partnerships with innovative digital health providers, Amwell continuously expands its portfolio, addressing critical health challenges such as obesity, diabetes, and cardiovascular diseases. This collaborative approach positions the company as a key enabler of value-based care models.
Challenges and Strategic Focus
As a pioneer in digital healthcare, Amwell faces challenges such as ensuring data security, navigating regulatory complexities, and driving adoption across diverse patient populations. The company addresses these challenges by investing in robust cybersecurity measures, aligning with industry standards, and leveraging its extensive network of partners to enhance accessibility and affordability.
Amwell's strategic focus on hybrid care delivery underscores its commitment to transforming healthcare. By integrating virtual and in-person services, the company aims to bridge care gaps, improve clinical outcomes, and reduce costs for patients and healthcare organizations alike. This approach aligns with industry trends emphasizing whole-person care and personalized health solutions.
Conclusion
American Well Corporation is at the forefront of digital healthcare innovation, enabling its clients to deliver seamless, patient-centric care. With its comprehensive platform, strategic partnerships, and commitment to hybrid care, Amwell is well-positioned to shape the future of healthcare delivery. Its emphasis on scalability, interoperability, and clinical excellence ensures it remains a valuable partner for health systems, insurers, and employers seeking to navigate the evolving healthcare landscape.
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.
Amwell (NYSE: AMWL), a leader in hybrid care enablement, has announced its participation in several investor conferences this September. Key events include:
• Morgan Stanley 22nd Annual Global Healthcare Conference in New York City on September 4, featuring a fireside chat at 1:50 p.m. ET
• Wells Fargo Healthcare Conference in Boston on September 5 (one-on-one meetings only)
• Baird Healthcare Conference in New York City on September 10, with one-on-one investor meetings
• TD Cowen 9th Annual FutureHealth Conference in New York City on September 10, including a panel discussion at 2:20 p.m. ET
Ido Schoenberg, M.D., Amwell's chairman and CEO, and Robert Shepardson, CFO, will represent the company. Audio webcasts of the Morgan Stanley fireside chat and TD Cowen panel will be available at investors.amwell.com.
Amwell (NYSE: AMWL), a small-cap growth healthcare company specializing in healthcare software as a service, has released its financial results for the second quarter of 2024, ending June 30. The company has made the detailed earnings report available on its investor relations website. Amwell will host a conference call on July 31, 2024, at 5 p.m. ET to discuss the financial results. Interested parties can access the call via a live audio webcast or by dialing in, with separate numbers provided for U.S. and international participants. A replay of the call will be available on the company's website after the event concludes.
Amwell® (NYSE: AMWL), a leader in hybrid care enablement, has announced it will report its second quarter 2024 operating results on Wednesday, July 31. The company will host a live conference call and webcast at 5 p.m. ET on the same day to review the results and provide a general business update. Investors can access the audio webcast through the Investors section of Amwell's website or join the conference call using the provided phone numbers. A replay of the webcast will be available at investors.amwell.com for approximately 90 days after the event.
Amwell (NYSE: AMWL) announced a 1-for-20 reverse stock split of its Class A, B, and C common stock, effective on July 10, 2024, at 5:00 p.m. EDT. Trading on a split-adjusted basis will commence on July 11, 2024, under the same symbol, 'AMWL'.
The primary objective is to comply with the NYSE's $1.00 minimum average closing price requirement. This action will reduce the number of issued and outstanding shares across all classes by a factor of 20, without affecting the company's market capitalization.
Shareholders approved the reverse split at Amwell's annual meeting on June 18, 2024, choosing a split ratio between 1-for-10 and 1-for-20, with the final decision made by the Board on June 27, 2024. No fractional shares will be issued; instead, cash payments will be made for fractional entitlements.
The new CUSIP number for Class A shares will be 03044L 204 post-split. All outstanding options, warrants, and equity incentive plans will be adjusted accordingly. The par value remains unchanged at $0.01 per share.
Amwell (NYSE: AMWL), a leader in hybrid care enablement, announced the appointment of Ricky Goldwasser to its Board of Directors, effective June 13, 2024. Goldwasser, with a strong financial background and a successful career in healthcare investment and research, is expected to guide Amwell towards profitability and efficient cash flow. She replaces Deval Patrick, a long-time board member who played a important role in Amwell’s IPO and telehealth acceptance. CEO Ido Schoenberg highlighted Goldwasser's potential to help Amwell achieve its goals in the evolving healthcare landscape.
Amwell (NYSE: AMWL) announced that co-founder Roy Schoenberg is transitioning from his role as president and co-CEO to become Executive Vice Chairman of the Board. Ido Schoenberg will now serve as the sole CEO. Roy Schoenberg has been instrumental in the growth of Amwell, guiding the company through the COVID-19 pandemic and expanding its platform to over 100,000 active clinicians and millions of patients globally. He also spearheaded the development of the Amwell Converge platform aimed at integrating in-person and digital healthcare. The transition marks a shift from extensive R&D to a focus on operational efficiency, cash flow optimization, and profitable growth.
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