Welcome to our dedicated page for Well Health Tech news (Ticker: WHTCF), a resource for investors and traders seeking the latest updates and insights on Well Health Tech stock.
WELL Health Technologies Corp. reports developments across a Canadian outpatient healthcare platform, digital health software and related technology-enabled services. The company operates a large owned clinic network in Canada and reports recurring updates on patient visits, Canadian Patient Services, primary care and specialty care performance, acquisitions, clinic transformation activity and financial results.
WELL’s news also covers WELLSTAR healthcare technology products, including electronic medical records, AI-powered clinical tools, patient engagement, eReferral and IT managed services. Other recurring themes include HEALWELL AI, CYBERWELL cybersecurity services, virtual cardiology through CardiologyNow, partnerships for remote cardiac monitoring, conference participation and financing capacity for the company’s healthcare operations.
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.
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.