WELL HEALTH TECH CORP ORD - WHTCF STOCK NEWS

WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) has announced a groundbreaking $44M project, Health Compass II, to advance AI and interoperability in Canadian healthcare. This initiative, the largest DIGITAL project to date, will receive $15.3M in funding from Canada's Federal Government. The project aims to enhance patient outcomes and reduce healthcare provider burdens through a suite of four AI-driven modules integrated via an EMR-agnostic app. These modules include Decision Compass by HEALWELL AI for clinical support, Patient Compass by ORX for patient engagement, SMART Inbox by Phelix for administrative automation, and Voice Assistant by Tali for capturing medical information. WELL Health will lead commercialization and provide interoperability support, leveraging its extensive network of healthcare providers and clinics. The project is expected to reduce healthcare delivery costs by 25% and improve patient satisfaction by 20% within two years.

WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) will launch its Third ESG Report, titled 'Co-Pilots in Healthcare Transformation,' at its inaugural Investor Day in Toronto on June 18, 2024.

The event, held at the Hilton Hotel, will feature presentations from WELL's senior management team, covering the company’s historical operational and financial growth, and its strategic vision for the future. The event aims to engage shareholders, investors, analysts, and other capital markets professionals. CEO Hamed Shahbazi emphasized the importance of this event as a milestone for WELL. The agenda and presentation materials will be available online, and a recording will be posted on the company's YouTube page.

WELL Health Technologies has announced an automatic share purchase plan (ASPP) to repurchase its common shares under a normal course issuer bid (NCIB) approved by the Toronto Stock Exchange (TSX). The plan, running from June 10, 2024, to June 9, 2025, allows WELL to repurchase up to 6,154,501 shares, approximately 2.5% of its 246,180,060 outstanding shares as of May 31, 2024. A broker will facilitate share purchases during blackout periods, based on parameters set by WELL. The ASPP complies with Canadian securities laws.

WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF), a digital health company, announced the approval of its Normal Course Issuer Bid (NCIB) by the Toronto Stock Exchange. This NCIB, renewing the previous one expired on June 4, 2024, allows WELL to purchase up to 6,154,501 common shares, representing approximately 2.5% of its 246,180,060 issued and outstanding shares, over the next 12 months. Purchases will be made on the open market through the TSX and Canadian alternative trading systems, with daily purchases capped at 209,016 shares. Shares acquired will be cancelled to facilitate an orderly market and improve shareholder value. Under the previous NCIB, the company acquired 119,400 shares at an average price of $3.70 per share. The new NCIB will be effective from June 10, 2024, to June 9, 2025.

WELL Health Technologies Corp. (WELL) reported record quarterly revenue of $231.6 million in Q1-2024, a 37% increase YoY, driven by acquisitions and organic growth of 13%. Adjusted EBITDA reached $28.3 million, a 6% increase from Q1-2023. Net Income was $19.6 million compared to a loss in Q1-2023. The company increased its guidance for 2024 revenue to $960-980 million and Adjusted EBITDA to $125-130 million. WELL also expects to improve FCFA2S by 30% in 2024.

WELL Health Technologies Corp. will announce its Fiscal First Quarter 2024 financial results on May 8, 2024. The company focuses on digital healthcare to improve health outcomes globally. The conference call will be hosted by CEO Hamed Shahbazi and CFO Eva Fong.

WELL and HEALWELL AI have launched the second-generation of WELL AI Decision Support (WAIDS) with advanced chronic disease screening capabilities. The tool identifies over 100 diseases and provides actionable clinical insights, aiding in chronic disease management in Canada, which costs an estimated $190 billion annually. The upgraded WAIDS now detects chronic diseases like chronic kidney disease, hypertension, and diabetes, offering risk stratification for patients. Dr. Michael Frankel, Chief Medical Officer of WELL, praised the tool for its effectiveness in providing key disease insights and risk assessments to physicians. HEALWELL AI's technology powers WAIDS, aiming to enhance decision-making in healthcare. The collaboration between WELL and HEALWELL AI continues to leverage data science and innovative technology to transform healthcare.

WELL Health Technologies announced a collaboration with Microsoft to accelerate healthcare's digital transformation. This partnership aims to integrate Microsoft Azure and its AI with WELL's digital health platform to enhance clinical outcomes, optimize costs, ensure data privacy, and improve scalability. The collaboration focuses on modernizing infrastructure, cost optimization, data security, and integrating innovative healthcare solutions through AI technologies. WELL aims to improve patient care, drive operational excellence, and shape the future of healthcare delivery globally.