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WELL Health Technologies Corp. (WHTCF) is a digital healthcare company dedicated to enhancing health outcomes globally by leveraging technology. Led by Hamed Shahbazi and Eva Fong, WELL focuses on empowering healthcare providers with cutting-edge technology to positively impact patient outcomes. With a vast network of over 175 clinics in Canada and specialized solutions for markets like gastrointestinal health and mental health in the US, WELL is at the forefront of tech-enabled healthcare.
WELL Health Technologies Corp. (OTCQX: WHTCF) supports the Ontario Government's strategy to reduce healthcare wait times by partnering with independent providers for essential diagnostic services. This initiative, announced by Premier Doug Ford and Health Minister Sylvia Jones, targets MRI, CT, colonoscopy, and endoscopy services. WELL’s subsidiary, MyHealth Partners, is the largest service provider in Ontario, while CognisantMD's Ocean platform streamlines referral processes, cutting unnecessary MRIs by 12% and overall wait times by 20%. The company aims to enhance patient outcomes and health equity through timely and quality care.
WELL Health Technologies Corp. (OTCQX: WHTCF) is set to participate in the CIBC Western Institutional Investor Conference in Whistler, BC, from January 18 to 20, 2023. Chairman and CEO Hamed Shahbazi will present on January 20 at 9:40 AM PT and engage in one-on-one meetings. WELL focuses on enhancing health outcomes through technology, offering a comprehensive suite of digital healthcare solutions, including practice management and telehealth services. The company operates Canada's largest network of outpatient medical clinics and offers leading telehealth services, showcasing their commitment to empowering healthcare practitioners and patients globally.
WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) has partnered with ORX Surgical, Tali AI, and Simon Fraser University on a Digital Technology Supercluster project named Health Compass. The initiative aims to enhance healthcare data accessibility using AI to mitigate physician burnout and expedite patient care. The project has received $3 million in co-investment funding from the Digital Technology Supercluster to leverage WELL's technology and improve interoperability with electronic medical records (EMRs). This innovative approach aims to connect patients with critical care faster while utilizing WELL's extensive clinical network.
WELL Health Technologies Corp. (OTCQX: WHTCF) will participate in the HLTH Conference in Las Vegas from November 14-16, 2022, showcasing their healthcare technology innovations. The CEO, Hamed Shahbazi, will also present at the TD Securities Technology Conference on November 22 at 9 AM ET in Toronto. At the HLTH Conference, WELL will be located at Booth 538, engaging with healthcare experts and attendees. WELL Health aims to enhance health outcomes through technology by empowering healthcare practitioners globally.
WELL Health Technologies reported record quarterly revenues of $145.8 million for Q3-2022, a 47% increase year-over-year. Adjusted EBITDA reached $27.5 million, up 23% YoY. Virtual Services grew 75% organically, contributing to 36% of total revenue. The company raised its 2022 revenue guidance to exceed $565 million and anticipates a run-rate revenue of $700 million by the end of 2023. Free cash flow for the quarter was $11.4 million. Patient interactions topped 1.25 million, demonstrating strong demand for its services.
WELL Health Technologies Corp. (WHTCF) announces expectations for strong Q3-2022 financial results bolstered by a projected record in omni-channel patient visits. Total visits increased by 53% year-over-year to approximately 892,966, alongside a total of 1,249,212 patient interactions. The company completed a significant acquisition of Canadian EMR and billing assets from CloudMD for $5.7 million, expected to add over $9 million in revenue. WELL will report detailed financial results on November 10, 2022, highlighting continued growth and successful capital allocation strategies.
WELL Health Technologies Corp. reported a strong performance in fiscal Q3 2022, with its US-based virtual services, Circle Medical and Wisp, achieving 124% organic growth year-over-year and exceeding an annualized revenue run rate of US$100 million. The recent acquisition of Grand Canyon Anesthesia is projected to generate an additional US$16 million in revenue. CEO Hamed Shahbazi highlighted the resilience of WELL's business amid economic challenges, showcasing a commitment to sustained growth.
WELL Health Technologies is acquiring Cloud Practice Inc. and three clinics from CloudMD for approximately $5.75 million. This strategic acquisition includes Juno EMR and ClinicAid software, expanding WELL into Alberta and Saskatchewan markets and is expected to contribute over $9 million in topline revenues. The move aligns with WELL's goal of enhancing its digital health offerings for healthcare practitioners.
The transaction is expected to close in Q4 2022, subject to standard conditions.
WELL Health Technologies Corp. (OTCQX: WHTCF) will participate in the 22nd Annual Healthcare Summit on September 22-23, 2022 in Vancouver, BC. The event features over 50 experts in digital health and personalized medicine. WELL's CEO Hamed Shahbazi will deliver a keynote on improving Canada's health ecosystem on September 22 at 3:20 PM, while Jeremy Mickolwin, VP of Clinic Operations, will speak on the role of technology in primary care on September 23 at 10:45 AM. The summit focuses on supporting healthcare providers and enhancing care delivery.
WELL Health Technologies Corp. (OTCQX: WHTCF) has been included in the 2022 TSX30, an annual recognition for companies demonstrating exceptional shareholder returns over the past three years. This accolade underscores WELL's ability to innovate and adapt during challenging economic periods. Hamed Shahbazi, CEO of WELL, expressed pride in the recognition, emphasizing the hard work of the team in supporting healthcare practitioners. The TSX30 program highlights companies that drive growth and contribute positively to the Canadian economy.
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