Well Health Tech - WHTCF STOCK NEWS

WELL Health Technologies (TSX: WELL, OTCQX: WHTCF) has released performance metrics for its acquired Canadian clinics, showing strong ROIC figures of 41%, 24%, and 28% for clinics acquired in 2022, 2023, and 2024 respectively, with effective multiples of 2.0x, 2.3x, and 2.6x Adj. EBITDA.

The company's M&A pipeline includes 165 clinics generating over $440 million in annual revenue, with 19 signed LOIs representing approximately $50 million in revenue. Both pipelines maintain double-digit Adj. EBITDA margins.

WELL confirmed it has no exposure to U.S.-Canada tariffs as it doesn't engage in cross-border sales. Over 60% of its revenues, Adj. EBITDA and cashflow is generated in U.S. dollars through U.S.-based entities. The company maintains its long-term goal of reaching $4 billion in revenues from Canadian sources.

WELL Health Technologies has completed seven acquisitions since December 2024, adding approximately $100M in annualized revenue. The acquisitions, paid entirely in cash with no share issuance, span across Canadian Clinics, WELLSTAR, and WELL USA business units. The deals include one of Canada's largest physician recruitment firms, two Canadian Primary Care Clinics, a Provider Staffing acquisition in the US under CRH, two WELLSTAR acquisitions, and Jack Nathan Health.

The company added 75 new clinical assets to its Canadian business, including 72 clinics through the Jack Nathan Health acquisition. WELL's current M&A pipeline includes twelve LOIs reflecting approximately $65M in revenues, with all but two targets based in Canada. The company maintains EBITDA margins in line with its 2024 guidance, and its post-deal leverage ratio remains below the level reported in Q3 2024.

WELL Health Technologies has completed the acquisition of Jack Nathan Medical's Canadian clinical assets, including 13 owned and operated clinics generating over $9M in revenue, and 59 licensee clinics contributing $2.2M in annual high-margin revenue. The owned clinics are expected to be EBITDA-positive within 12 months. Through agreements with Walmart Canada, WELL gains potential expansion opportunities across Walmart's 400+ locations. The acquired clinics will be rebranded as WELL Health Medical Centres, incorporating WELL's tech-enabled healthcare approach. The licensee clinics will form WELL's new 'Affiliate Clinic' business model, allowing healthcare providers to operate independently while leveraging WELL's infrastructure.

WELL Health Technologies achieved record Q3-2024 results with revenue of $251.7M, up 27% YoY, driven by 23% organic growth. The company reached a $1B annualized revenue run-rate ahead of schedule and posted record Adjusted EBITDA of $32.7M, up 16% YoY. Total patient visits increased 41% to 1.5M. Based on strong performance, WELL raised its 2024 revenue guidance to $985-995M while maintaining Adjusted EBITDA guidance in the upper half of $125-130M range. The company's Canadian Patient Services grew 35% YoY, while US operations Wisp and Circle Medical showed strong growth of 35% and 61% respectively.

WELL Health Technologies has announced the acquisition of Jack Nathan Medical's Canadian clinical assets, including 16 owned and operated clinics generating over $10 million in revenue, and 62 licensee clinics contributing $2.2 million in annual revenue. The deal includes rights to operate medical clinics in Walmart Canada stores, providing access to over 400 potential locations. The owned clinics are expected to be profitable on an adjusted EBITDA basis by 2025. The acquisition introduces WELL's new 'Affiliate Clinic' business model, where physicians own and operate smaller clinics with WELL's technology support.

WELL Health Technologies and HEALWELL AI have expanded their multi-year strategic alliance to launch and manage clinical trial sites across WELL's network of over 180 Canadian clinics. The partnership combines WELL's healthcare infrastructure with HEALWELL's AI technology and Contract Research Organization capabilities to create an end-to-end clinical trials service. The collaboration will leverage WELL's extensive network of primary and specialty care clinics, including diagnostic centers specializing in cardiology, radiology, sleep medicine, and endocrinology, to enhance patient recruitment and trial execution while opening new revenue streams.

WELL Health Technologies Corp.'s subsidiary Wisp, the largest dedicated women's telehealth provider in the U.S., has launched a new weight care vertical. This expansion includes:

• Personalized online consultations with access to four weight care solutions, including GLP-1 medications
• Introduction of Wisp's first exclusive over-the-counter weight-loss supplement
• Support for women struggling with hormonal conditions such as perimenopause, menopause, PCOS, and endometriosis

Wisp now serves over 1.2 million patients and offers GLP-1 medications and supplements via pharmacy pickup or free delivery. The program includes educational content and monthly check-ins. Wisp has also strengthened its menopause solutions, addressing the healthcare gap for over 2 million women experiencing menopause annually.

WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) announces positive findings from an AI Scribe Evaluation Study conducted by OntarioMD. The study, which included WELL's AI Voice solution, revealed:

• Over 70% reduction in time spent on patient encounter documentation
• 82.3% of primary care providers expressed desire to continue using AI scribes long-term
• Average 3.5-minute reduction in administrative tasks per patient encounter

Key benefits include improved workflow efficiency, reduced after-hours documentation, and enhanced patient care. The study involved 152 primary care providers across Ontario, testing various AI scribes. WELL plans to further integrate its AI Voice solution with EMR software to maximize efficiency and reduce administrative tasks.

WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF), a digital healthcare company, has announced its participation in the upcoming Cantech Letter Investment Conference on October 9, 2024, in Toronto, Ontario. The company's Founder and CEO, Hamed Shahbazi, will deliver an investor presentation and engage in one-on-one meetings with investors during the event.

Additionally, Mr. Shahbazi will participate in a panel discussion titled 'Growth Through Acquisition in the Canadian Capital Markets' at 12:30 PM. The conference will take place at the Arcadian Loft, 8th floor, 401 Bay Street, Toronto, ON. Interested parties can register for the event by contacting tara@cantechletter.com. More information about the conference can be found on the Cantech Letter website.