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WELL Health Technologies Corp. (WELL) reported record quarterly revenue of $231.6 million in Q1-2024, a 37% increase YoY, driven by acquisitions and organic growth of 13%. Adjusted EBITDA reached $28.3 million, a 6% increase from Q1-2023. Net Income was $19.6 million compared to a loss in Q1-2023. The company increased its guidance for 2024 revenue to $960-980 million and Adjusted EBITDA to $125-130 million. WELL also expects to improve FCFA2S by 30% in 2024.
WELL Health Technologies Corp. will announce its Fiscal First Quarter 2024 financial results on May 8, 2024. The company focuses on digital healthcare to improve health outcomes globally. The conference call will be hosted by CEO Hamed Shahbazi and CFO Eva Fong.
WELL and HEALWELL AI have launched the second-generation of WELL AI Decision Support (WAIDS) with advanced chronic disease screening capabilities. The tool identifies over 100 diseases and provides actionable clinical insights, aiding in chronic disease management in Canada, which costs an estimated $190 billion annually. The upgraded WAIDS now detects chronic diseases like chronic kidney disease, hypertension, and diabetes, offering risk stratification for patients. Dr. Michael Frankel, Chief Medical Officer of WELL, praised the tool for its effectiveness in providing key disease insights and risk assessments to physicians. HEALWELL AI's technology powers WAIDS, aiming to enhance decision-making in healthcare. The collaboration between WELL and HEALWELL AI continues to leverage data science and innovative technology to transform healthcare.
WELL Health Technologies announced a collaboration with Microsoft to accelerate healthcare's digital transformation. This partnership aims to integrate Microsoft Azure and its AI with WELL's digital health platform to enhance clinical outcomes, optimize costs, ensure data privacy, and improve scalability. The collaboration focuses on modernizing infrastructure, cost optimization, data security, and integrating innovative healthcare solutions through AI technologies. WELL aims to improve patient care, drive operational excellence, and shape the future of healthcare delivery globally.