Well Health Tech Stock Price, News & Analysis

WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) announced the release of its Fiscal Fourth Quarter and Year End 2022 financial results on March 21, 2023.

The results will cover the period ended December 30, 2022, and will be followed by a conference call at 1:00 PM EST hosted by CEO Hamed Shahbazi and CFO Eva Fong.

Investors can join the call and view the webcast through provided links.

WELL Health Technologies Corp. (OTCQX: WHTCF) announces a strategic investment in doctorly GmbH, a German practice management software provider, led by WELL Ventures alongside top venture capital firms. This marks WELL's first entry into the European market. The investment allows WELL to utilize its Ocean platform as the exclusive booking tool for doctorly, aiming to enhance healthcare delivery in Germany. Doctorly, founded in 2018, holds regulatory approval to sell practice management software, positioning it uniquely in a market inefficiently served by outdated software. The investment will accelerate doctorly's growth and feature development, addressing administrative challenges in medical practices.

WELL Health Technologies Corp. (OTCQX: WHTCF) reported a significant increase in omni-channel patient visits for Q4-2022, achieving 991,268 visits, up 42% YoY and 11% QoQ. For the full year, total patient interactions reached approximately 4.9 million, marking an 86% increase from 2021. The company's growth was primarily driven by organic means, with omni-channel patient visits up 50% compared to the previous year. WELL's performance positions it as a leader in the Canadian healthcare market, emphasizing its commitment to enhancing patient outcomes through innovative technology and support for healthcare practitioners.

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.