Welcome to our dedicated page for Well Health Tech news (Ticker: WHTCF), a resource for investors and traders seeking the latest updates and insights on Well Health Tech stock.
WELL Health Technologies Corp. (WHTCF) is a leader in digital healthcare innovation, providing AI-driven solutions that empower providers and modernize patient care. This news hub offers investors and industry professionals a centralized source for tracking the company’s latest developments.
Access timely updates on earnings reports, strategic partnerships, product enhancements, and regulatory milestones. Our curated collection ensures you stay informed about WHTCF’s role in advancing interoperable EMR systems, clinic management tools, and AI-powered healthcare technologies.
Explore press releases covering acquisitions, operational expansions, and technological breakthroughs that strengthen WELL Health’s position across North American markets. Each update is organized to highlight impacts on healthcare delivery efficiency and long-term growth potential.
Bookmark this page for streamlined access to WHTCF’s evolving initiatives in digital health transformation. Check back regularly for authoritative reporting on how the company continues to reshape provider workflows through secure, scalable solutions.
WELL Health announced record results for Q2-2024, with revenue reaching $243.1 million, a 42% increase from Q2-2023, driven by a 21% organic growth. Adjusted EBITDA grew by 11% to $30.9 million. The company recorded 1.4 million patient visits, an increase of 38% YoY. U.S. digital revenues rose by 40% to $56.3 million. WELL raised its 2024 annual revenue forecast to $970 million to $990 million and maintained Adjusted EBITDA guidance at $125 million to $130 million. The company generated $35.2 million in operating cash flow and paid down $14 million in debt.
Segment highlights include: Canadian Patient Services revenue up 42%, SaaS and Technology Services revenue up 27%, and U.S. Patient and Provider Services revenue up 45%. Adjusted Gross Profit was $107.4 million (up 18%), but Adjusted Gross Margin declined to 44.2% from 53.1%. Adjusted Net Income decreased to $12.3 million ($0.05 per share) from $14.4 million ($0.06 per share).
Noteworthy developments include a five-year collaboration with Microsoft and the launch of new AI tools. Despite increased costs, WELL aims to maintain robust growth and profitability.
Circle Medical, majority-owned by WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF), has surpassed a $100M USD revenue run rate. In July 2024, Circle Medical reported $8.87M in revenue, reflecting a 65% year-over-year increase. The company has maintained profitability on an Adj EBITDA basis for over 2.5 years with strong gross margins of approximately 55%.
Circle Medical has retained JP Morgan as exclusive financial advisor to explore strategic options for future growth. The company has made strategic leadership hires and formed key partnerships in artificial intelligence (AI) to enhance patient care and operational efficiency. WELL Health will discuss Circle Medical's performance in its quarterly earnings call on August 14, 2024.
WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) has announced that it will release its Fiscal Second Quarter 2024 financial results on August 14, 2024. The company, which focuses on leveraging technology to improve healthcare outcomes, will hold a conference call and webcast to discuss the results on the same day at 1:00 pm ET (10:00 am PT). The call will be hosted by Hamed Shahbazi, Chairman and CEO, and Eva Fong, CFO. Participants can join via phone or webcast, with dial-in details provided for Toronto, Vancouver, North America (toll-free), and international callers.
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.
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