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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.
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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.
The Clinic by Cleveland Clinic and Amwell (NYSE: AMWL) have announced a partnership with ReviveHealth to provide online expert second opinions through a telehealth platform. This collaboration aims to enhance care delivery, improving outcomes while reducing costs. ReviveHealth members can access this service at no additional cost, addressing the growing demand for second opinions in healthcare, projected to reach $7 billion by 2024. The partnership aims to connect patients with over 3,500 world-renowned expert physicians.
Amwell (NYSE: AMWL), a leader in telehealth, announced its participation in the 19th Annual Morgan Stanley Global Healthcare Conference on September 13, 2021, at 8:45 a.m. ET. Chairman and Co-CEO Ido Schoenberg and CFO Keith Anderson will engage in a fireside chat during the event. A live audio webcast of the presentation will be available on Amwell’s investor website and archived for approximately 90 days. With a robust telehealth platform, Amwell partners with over 2,000 hospitals and 55 health plans, covering over 80 million lives, demonstrating a commitment to transforming healthcare access and delivery.
Amwell (NYSE: AMWL) has successfully closed its acquisitions of SilverCloud Health and Conversa Health, enhancing its digital care enablement platform. These acquisitions aim to integrate proven behavioral healthcare and longitudinal care capabilities, positioning Amwell to improve care delivery worldwide. Chairman Ido Schoenberg emphasized the goal of a robust digital platform comprising a vast clinical network and advanced technology, fostering growth through increased utilization of their Converge platform and strategic global expansion.
Amwell (AMWL) announced its Q2 2021 financial results, revealing total revenues of $60.2 million, up from $57.6 million. Subscription revenue increased to $26.8 million, while visit revenue slightly decreased to $27.5 million. Gross margin improved to 43.7%. The net loss narrowed to $38.1 million, and adjusted EBITDA improved to ($23.7) million. Looking ahead, Amwell adjusted its revenue guidance for 2021, expecting between $252 and $262 million, while reducing its visit volume forecast due to COVID-Delta variant impacts. A quarterly conference call is scheduled for August 11, 2021.
Amwell (NYSE: AMWL) has signed definitive agreements to acquire SilverCloud Health and Conversa Health, enhancing its telehealth platform with advanced digital mental health and automated virtual care capabilities. The total acquisition cost is approximately $320 million, expected to be funded through a mix of stock and cash. SilverCloud offers evidence-based mental health programs used by over 300 organizations, while Conversa specializes in automated patient interactions. Amwell anticipates standalone revenues of about $15 million from both companies in 2021, with a projected 100% growth rate in 2022.
Amwell, a leader in telehealth, announced the appointment of Brendan O’Grady as Chief Commercial & Growth Officer. Effective immediately, O'Grady brings over 30 years of healthcare experience, having previously served as President and CEO of Teva Pharmaceuticals' North America Business. He will focus on driving growth initiatives and expanding Amwell's market strategy. Chairman Ido Schoenberg emphasized O'Grady's significant contributions as a board member since 2015 and his proven ability to lead healthcare organizations towards strategic growth.
Amwell (NYSE: AMWL) will report its second quarter operating results for the period ending June 30, 2021, on August 11, 2021. Following the release, the management team will host a live conference call at 5:00 PM ET to discuss the results and provide a business update. Investors can access the call via the Company’s website or by calling in. Amwell is a leading telehealth platform connecting healthcare providers and patients, supporting a range of telehealth needs for over 2,000 hospitals and 55 health plans, covering over 80 million lives.
Amwell (NYSE: AMWL), a leading telehealth provider, announced that Ido Schoenberg and Keith Anderson will participate in the 42nd Annual Goldman Sachs Global Healthcare Conference. The fireside chat is scheduled for June 9, 2021, at 9:40 a.m. ET. A live audio webcast will be available in the investors section of Amwell's website and archived for approximately 90 days.
Amwell connects providers, insurers, and patients, offering a comprehensive telehealth platform that covers over 80 million lives through partnerships with more than 2,000 hospitals and 55 health plans.