05:53:53 EDT Sat 04 May 2024
Enter Symbol
or Name
USA
CA



Well Health Technologies Corp
Symbol WELL
Shares Issued 234,051,135
Close 2023-05-03 C$ 5.73
Market Cap C$ 1,341,113,004
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Well Health's Q1 2023 patient visits at 1.39 million

2023-05-04 12:17 ET - News Release

Mr. Hamed Shahbazi reports

WELL HEALTH REPORTS RECORD PATIENT VISITS AND INTERACTIONS FOR Q1-2023 DRIVEN BY STRONG ORGANIC GROWTH

Well Health Technologies Corp. has provided a preview of the volume of its patient visit and interactions in Q1 2023.

Well achieved a total of 1,397,353 patient interactions in Q1 2023, a year-over-year increase of 27 per cent compared with Q1 2022 and representing 5.6 million patient interactions on an annualized run-rate basis. This was primarily driven by strong organic growth across all of Well's business units.

Well's Canadian patient services business, which includes primary care, specialty, allied care, executive health and diagnostic care, accounted for a total of 503,735 patient visits across Canada in Q1 2023, representing an increase of 14 per cent as compared with Q1 2022.

Well achieved 471,765 patient visits in the company's U.S. patient services business in Q1 2023, an increase of 40 per cent compared with Q1 2022. Well's U.S. patient services businesses include CRH Medical, Circle Medical and Wisp. Growth in U.S. patient visits was primarily driven by organic growth in Circle Medical and Wisp businesses, in addition to acquisitions by CRH over the past year.

Hamed Shahbazi, founder and chief executive officer of Well, commented: "Our impressive care provider and technology teams turned in another outstanding performance in Q1, collectively delivering another record quarter of results of exceptional care as evidenced by our industry-leading high NPS scores. Organic growth continues to be a significant contributor to our overall growth, with Q1 being the fifth consecutive quarter of double-digit organic growth. We are now on a run-rate of 5.6 million synchronous and asynchronous patient interactions which reflects truly impressive scale and reach."

About Well Health Technologies Corp.

Well is a practitioner-focused digital health care company. Well's overarching mission is to positively impact health outcomes by leveraging technology to empower health care practitioners and their patients globally. Well exists to enable health care practitioners with best-in-class technology and services. Well has built the most comprehensive end-to-end health care system across Canada, including the nation's largest network of clinics supporting primary care, specialized care and diagnostics services. In the United States, Well provides omnichannel health care services and solutions targeting specialized markets such as the gastrointestinal market, women's health, primary care and mental disorders. In addition to providing patient services, Well develops, integrates and sells its own suite of technology software and solutions to medical clinics and health care practitioners. Well's practitioner enablement platform includes: electronic medical records (EMR), telehealth platforms, practice management, billing, revenue cycle management (RCM), digital health apps and data protection solutions.

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