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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) has signed definitive agreements to acquire SilverCloud Health and Conversa Health, enhancing its telehealth platform with advanced digital mental health and automated virtual care capabilities. The total acquisition cost is approximately $320 million, expected to be funded through a mix of stock and cash. SilverCloud offers evidence-based mental health programs used by over 300 organizations, while Conversa specializes in automated patient interactions. Amwell anticipates standalone revenues of about $15 million from both companies in 2021, with a projected 100% growth rate in 2022.
Amwell, a leader in telehealth, announced the appointment of Brendan O’Grady as Chief Commercial & Growth Officer. Effective immediately, O'Grady brings over 30 years of healthcare experience, having previously served as President and CEO of Teva Pharmaceuticals' North America Business. He will focus on driving growth initiatives and expanding Amwell's market strategy. Chairman Ido Schoenberg emphasized O'Grady's significant contributions as a board member since 2015 and his proven ability to lead healthcare organizations towards strategic growth.
Amwell (NYSE: AMWL) will report its second quarter operating results for the period ending June 30, 2021, on August 11, 2021. Following the release, the management team will host a live conference call at 5:00 PM ET to discuss the results and provide a business update. Investors can access the call via the Company’s website or by calling in. Amwell is a leading telehealth platform connecting healthcare providers and patients, supporting a range of telehealth needs for over 2,000 hospitals and 55 health plans, covering over 80 million lives.
Amwell (NYSE: AMWL), a leading telehealth provider, announced that Ido Schoenberg and Keith Anderson will participate in the 42nd Annual Goldman Sachs Global Healthcare Conference. The fireside chat is scheduled for June 9, 2021, at 9:40 a.m. ET. A live audio webcast will be available in the investors section of Amwell's website and archived for approximately 90 days.
Amwell connects providers, insurers, and patients, offering a comprehensive telehealth platform that covers over 80 million lives through partnerships with more than 2,000 hospitals and 55 health plans.
Amwell, a national telehealth leader, reported robust financial results for Q1 2021, highlighting a surge in total active providers to approximately 81,000 from 24,000 a year prior. Total visits reached around 1.6 million, double the previous year. The company generated total revenue of $57.6 million, up from $53.7 million, with subscription revenue rising to $24.6 million. However, gross margin slightly declined to 38.0%, and net loss widened to $39.8 million. The company maintains a 2021 revenue outlook of $260-$270 million and an adjusted EBITDA between -$157 million and -$147 million.
Amwell (NYSE: AMWL) has announced its annual Client Awards, recognizing organizations that have excelled in telehealth amidst the COVID-19 pandemic. Awards were given in four categories: Empowering Providers, New Models, New Normal, Innovative Integrations, and Positive Impact. The winners demonstrated significant advancements in healthcare delivery, promoting equality and enhanced patient care through innovative practices. With over 36,000 employers and 80 million lives covered, Amwell continues to be a leader in telehealth solutions.
Amwell, a leader in telehealth (NYSE: AMWL), introduced its next-generation Converge telehealth platform at its annual Client Forum. This platform aims to enhance connectivity among healthcare providers, offering a unified care experience through flexibility and scalability. It incorporates features from notable partners like Google Cloud and TytoCare, ensuring improved patient engagement and diagnosis. The Converge platform's open architecture allows clients to customize their capabilities while ensuring a seamless integration with existing healthcare systems, ultimately facilitating better health outcomes.
Amwell, a leader in telehealth (NYSE: AMWL), will announce its first quarter operating results for the period ending March 31, 2021, on May 12, 2021. Following the release, the management team will hold a conference call and webcast at 5:00 p.m. ET to discuss the results and provide a business update. Investors can access the webcast via the Company’s website or listen via phone by calling (833) 979-2840 (U.S.) or (236) 384-2051 (International), using conference ID 4793448. A replay will be available for 90 days post-call.
Amwell®, a leader in telehealth, reported strong fourth-quarter and full-year financial results for 2020. The total active providers surged to ~72,000 from ~7,000 the previous year, and total visits reached ~1.6 million, up from 355,000. Total revenue rose to $60.4 million, compared to $45.0 million, while subscription and visit revenues increased significantly. Despite these gains, the net loss widened to $50.6 million from $22.7 million. For 2021, Amwell anticipates revenue between $260 million and $270 million and AMG visits of 1.5 to 1.7 million.
Amwell (NYSE: AMWL), a leader in telehealth, has joined the Moving Health Home coalition to advance home-based care delivery. This initiative aims to unite stakeholders to enhance home care sustainability, particularly for seniors with chronic conditions. Notably, home-based care can significantly reduce healthcare costs and improve patient outcomes. Amwell's commitment emphasizes the need for a hybrid care model following lessons learned during the pandemic. The company aims to create a healthcare system that enhances quality of life for patients.
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