American Well Corporation reports developments for Amwell, a SaaS-based software platform for technology-enabled healthcare used by payers and health systems. Company updates center on quarterly and annual operating results, business reviews, investor conference participation, and equity-compensation actions such as inducement-plan grants.
The Amwell platform combines software and services that support virtual care programs across the care continuum, including virtual primary care, urgent care, clinical partner programs, scheduling, provider workflows, prescribing, and treatment-guideline reference tools. News about AMWL commonly connects these platform capabilities with payer and health system relationships, partner clinical programs, and management commentary on technology-enabled care delivery.
Amwell (NYSE: AMWL) has announced a shortened earnout period for its acquisition of Conversa Health, which was purchased in August 2021. This strategic move is expected to enhance integration and support new product development, cross-selling opportunities, and operational efficiencies. In coordination, Amwell issued 1,020,964 shares of Class A common stock to Conversa's former stockholders. Amwell's CEO emphasized the seamless integration as a key driver for improved care delivery and innovative healthcare solutions.
Amwell (NYSE: AMWL), a leader in telehealth, announced participation in upcoming investor conferences.
Key events include Cowen’s 42nd Annual Health Care Conference on March 8, 2022, and Keybanc’s Virtual Healthcare Conference on March 22, 2022. Executives Ido Schoenberg, Roy Schoenberg, and Robert Shepardson will represent the company.
Audio webcasts will be accessible on their investor relations website.
Amwell aims to transform healthcare through a comprehensive digital platform, serving over 80 million lives across 55 health plans.
Amwell (NYSE: AMWL) reported strong fourth quarter and full year results for 2021, with total revenue of $252.8 million and gross margins of 41%. The company achieved 1.5 million active visits in Q4, up from 1.4 million in Q3. Subscription revenue rose to $30.1 million, a significant increase from last year. Despite a net loss of ($47.9 million) in Q4, the company aims for revenue growth between $275 million and $285 million for 2022. The increased active providers reached approximately 91,000 indicates positive traction on their Converge platform.
Amwell (NYSE: AMWL), a leader in telehealth, will report its fourth quarter and full year results for the period ended December 31, 2021, on February 24, 2022. The management team will conduct a live conference call and webcast at 5:00 p.m. ET to discuss the results and provide a business update. Interested parties can access the webcast via the Company's Investors website or through a dedicated phone line. Amwell connects providers and patients, covering over 80 million lives and offering a comprehensive telehealth platform for various healthcare needs.
Amwell reported $62.2 million in third-quarter revenue, a slight decrease from $62.6 million a year prior, with gross margins improving to 43.5% compared to 32.7% last year. The company saw an increase in total active providers to approximately 80,000 from 71,000 last quarter, and total visits rose to 1.4 million. The adjusted EBITDA loss was narrowed to ($31.5 million), down from ($26.2 million) year-over-year. Amwell adjusted its financial outlook for revenue to a range of $246 million to $253 million due to COVID-Delta impacts.
Amwell (NYSE: AMWL), a leader in telehealth, will report its third-quarter operating results for the period ending September 30, 2021, on November 10, 2021. Following the release, Amwell's management will host a live conference call and webcast at 5:00 p.m. ET to discuss the results and provide a business update. Interested parties can access the live audio via the Company's website or by calling designated numbers. Amwell connects over 80 million lives through its telehealth platform, offering comprehensive healthcare solutions.
Amwell (NYSE: AMWL) announces the general availability of Converge™, its telehealth platform with integrated EHR capabilities, now deployed in over 40 health systems. Recognized as the Best New Application in Telehealth by UCSF, Converge streamlines digital care delivery across physical, virtual, and automated environments. Significant support is evident, with 77% of healthcare leaders desiring a unified virtual care platform. Amwell's success is backed by positive client feedback and accolades from Chilmark Research and MassTLC, emphasizing its strong market position and innovative solutions.
The Clinic by Cleveland Clinic and Amwell (NYSE: AMWL) have announced a strategic partnership with RubiconMD to enhance access to medical expertise. This tech-enabled collaboration will allow primary care clinicians to obtain same-day guidance from specialists at Cleveland Clinic, improving patient care and potentially reducing costs. The initiative aims to streamline workflows and democratize specialty care, starting with advanced specialties such as endocrinology. The Clinic boasts 3,500 experts across 550 subspecialties.
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Amwell has announced the appointment of Robert Shepardson as the new Chief Financial Officer (CFO), effective October 31. Shepardson brings over 30 years of experience in investment banking, having led significant financings in the healthcare sector. He will succeed Keith Anderson, who will transition to a full-time advisory role after three years in the CFO position. Amwell is projected to increase its revenue from $100 million in 2018 to over $300 million by 2022, reflecting strong business growth.