WELL HEALTH TECH CORP ORD - WHTCF STOCK NEWS

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.

WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) announced the release of its Fiscal Fourth Quarter and Year End 2022 financial results on March 21, 2023.

The results will cover the period ended December 30, 2022, and will be followed by a conference call at 1:00 PM EST hosted by CEO Hamed Shahbazi and CFO Eva Fong.

Investors can join the call and view the webcast through provided links.

WELL Health Technologies Corp. (OTCQX: WHTCF) announces a strategic investment in doctorly GmbH, a German practice management software provider, led by WELL Ventures alongside top venture capital firms. This marks WELL's first entry into the European market. The investment allows WELL to utilize its Ocean platform as the exclusive booking tool for doctorly, aiming to enhance healthcare delivery in Germany. Doctorly, founded in 2018, holds regulatory approval to sell practice management software, positioning it uniquely in a market inefficiently served by outdated software. The investment will accelerate doctorly's growth and feature development, addressing administrative challenges in medical practices.

WELL Health Technologies Corp. (OTCQX: WHTCF) reported a significant increase in omni-channel patient visits for Q4-2022, achieving 991,268 visits, up 42% YoY and 11% QoQ. For the full year, total patient interactions reached approximately 4.9 million, marking an 86% increase from 2021. The company's growth was primarily driven by organic means, with omni-channel patient visits up 50% compared to the previous year. WELL's performance positions it as a leader in the Canadian healthcare market, emphasizing its commitment to enhancing patient outcomes through innovative technology and support for healthcare practitioners.

WELL Health Technologies Corp. (OTCQX: WHTCF) announced a goal to donate $50,000 to the Red Cross for Turkish and Syrian earthquake victims, matching the first $15,000 of donations received. As of February 16, over 40,000 lives were claimed by the earthquakes on February 6, 2023. The CEO and management team encourage everyone connected with the company to contribute. In addition to monetary support, WELL offers subsidized therapy access through Focus Mental Wellness for employees and their families affected by the crisis. This initiative reflects WELL's commitment to humanitarian efforts while addressing the mental health impacts on its team.