Well Health Tech - WHTCF STOCK NEWS

WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) has announced it will release its First Quarter 2023 financial results on Friday, May 12, 2023. The company will hold a conference call and simultaneous webcast to discuss the results on the same day at 1:00 pm EST (10:00 am PST).

The call will be hosted by Hamed Shahbazi, Chairman and Chief Executive Officer, and Eva Fong, Chief Financial Officer. Participants are advised to dial in 10 minutes prior to the start of the call. The event can be accessed via local numbers in Toronto and Vancouver, a North American toll-free number, or an international number. A webcast URL is also provided for those who prefer to join online.

WELL Health Technologies Corp. expects to announce another record performance for total patient interactions in Q1-2023, reflecting a YoY increase of approximately 27%. The company achieved combined 975,500 patient visits in Canada and the United States, an increase of 25% compared to Q1-2022. WELL's Canadian Patient Services business accounted for a total of 503,735 patient visits in Q1-2023, representing a 14% increase. The company achieved 471,765 patient visits in its US Patient Services business, an increase of 40% compared to Q1-2022.

WELL Health Technologies Corp. (OTCQX: WHTCF) announced the launch of the WELL AI Investment Program, aimed at investing in early-stage AI companies that enhance healthcare provider tools. The initiative will involve at least 10 investments, each exceeding $250,000, and focuses on technologies improving efficiency and patient outcomes. WELL Ventures seeks to leverage its extensive ecosystem, including a network of over 23,000 healthcare providers, to support investees. Collaborating with Canada Health Infoway ensures adherence to national data standards, enhancing the interoperability of products developed through this program. WELL Ventures is fully funded for these investments, and while no specific timeline is set, the company intends to start making investments in 2023.

WELL Health Technologies (TSX: WELL, OTCQX: WHTCF) announced that its subsidiary, OceanMD, has been selected by Nova Scotia to implement the Ocean eReferral system, aimed at streamlining surgical consult referrals and reducing patient wait times. Effective March 31, 2023, this electronic tool will allow primary care providers to send requests digitally, enhancing tracking and management of referrals. The Ocean eReferral network currently handles over 1M patient interactions and 67,000 eReferrals monthly across Canada, predominantly in Ontario. The initiative is intended to provide better information to patients and improve overall healthcare efficiency.

WELL Health Technologies Corp. (OTCQX: WHTCF) will participate in two notable healthcare conferences. The first is the Laurentian Bank Securities Diversified Virtual Technology Conference on April 12, 2023, where CEO Hamed Shahbazi will speak on a healthcare panel at 1:00 PM ET. The second event is the Bloom Burton & Co. Healthcare Investor Conference from April 25-26, 2023, at the Metro Toronto Convention Centre, with Shahbazi presenting on April 26 at 9:30 AM ET. Both events will include opportunities for one-on-one meetings with investors.

WELL Health Technologies Corp. reported record annual revenue of $569.1 million for 2022, marking an 88% increase year-over-year. Q4-2022 revenue reached $156.5 million, a 35% rise from Q4-2021. The company achieved an Adjusted EBITDA of $104.6 million, up 73% from 2021, with Q4 Adjusted EBITDA at $27.2 million, a 6% growth. Patient interactions grew significantly, with 3.5 million omni-channel visits in 2022. For 2023, WELL predicts revenue between $665 million and $685 million, forecasting over 10% growth in Adjusted EBITDA. This performance is underpinned by a strong focus on tech-driven healthcare solutions.