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) has established a new entity called WELL Health Canada Clinics Inc. to consolidate its outpatient clinic businesses in Canada, enhancing its 'hybrid' care model. The company secured $200 million in senior secured credit facilities, led by RBC, extended until 2026, enabling further clinic expansion. Recently, WELL opened clinics in Ontario and British Columbia, aiming to exceed $160 million in revenue from its clinics, which collectively support 1,300 practitioners and 1.87 million patient visits annually.
WELL Health Technologies Corp. (OTCQX: WHTCF) announced a significant business update on its cybersecurity unit, revealing a record revenue and EBITDA growth of 240% year-over-year in Q2 2022. The company appointed Iain Paterson as the Chief Information Security Officer and Peter Giannoulis as the new CEO of Cycura, enhancing leadership in cybersecurity. WELL's cybersecurity initiatives are being ramped up to protect healthcare data, given that healthcare faced 48% of all security breaches in Canada in 2021. Additionally, CEO Hamed Shahbazi transferred 6 million shares for family trust purposes, reaffirming his commitment to the company.
WELL Health Technologies Corp. (WHTCF) announced the participation of CEO Hamed Shahbazi in the 1st Annual Stifel GMP Muskoka Institutional Investor Conference, scheduled from July 13 to 15, 2022, at the JW Marriott The Rosseau Muskoka Resort & Spa, Minett, ONT. Mr. Shahbazi will hold one-on-one meetings with institutional investors on July 14. WELL is dedicated to enhancing health outcomes through technology, operating Canada's largest outpatient medical clinic network and a leading telehealth service. For details, refer to the official announcement.
WELL Health Technologies Corp. has announced its first acquisition in Alberta, acquiring INLIV, a healthcare provider in Calgary focusing on primary care and executive health services. The acquisition, valued at approximately $1.61 million, is expected to enhance WELL's portfolio, bringing in over 1,000 customers and annual revenues nearing $20 million. INLIV reported revenues of $7.3 million for the year ending April 30, 2022, with more than 85% from recurring fees. This transaction will further expand WELL's presence in the corporate health sector.
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WELL Health Technologies Corp. (OTCQX: WHTCF) has announced significant updates, highlighting a ramp-up in its M&A program with multiple actionable LOIs and the formation of a new Provider Solutions Business Unit. This unit combines various services into a single platform, enhancing support for healthcare practitioners. Additionally, WELL has initiated a comprehensive operating cost optimization initiative to improve cash flow. The company raised its revenue guidance to over $525 million for the fiscal year, reflecting strong operational performance.
WELL Health Technologies Corp. (OTCQX: WHTCF) will be presenting at two upcoming investor conferences. Hamed Shahbazi, CEO, will speak at the CIBC Technology & Innovation Conference on May 26 at 2:15 PM ET and at the LD Micro Invitational XII on June 8 at 11 AM PT. Both events will facilitate one-on-one meetings with institutional investors, furthering the company's goal to enhance healthcare outcomes through technology.