- WELL continues to focus on integrating and streamlining its
operating businesses and is pleased to provide a number of related
updates that supports its goal of improved profitable
growth.
- All of WELL's Canadian clinical operating businesses including
primary care, executive health, allied health, Longevity+ and
MyHealth Centre specialized care offerings are included as part of
the WELL Clinics Corp Operating entity and will now have
overall P&L ownership by Dr. Michael
Frankel, WELL's Chief Medical Officer. This is a business
that is forecasted to generate more than $300M in revenues in 2024 with strong EBITDA
margins.
- All of WELL's Canadian platform technologies including WELL's
Provider Solutions, Cybersecurity, Public Sector and Enterprise
Solutions, and Direct to Consumer Technology offerings shall be
integrated as part of a new Platform Solutions Group with P&L
ownership by Amir Javidan, WELL's
Chief Operating Officer. This is a business that is forecasted to
generate more than $75M in revenues
in 2024 with strong EBITDA margins.
- WELL's cost optimization program is currently being implemented
with the goal of enhancing operational efficiency and
profitability. Updates on our progress will be provided at our Q4
2023 earnings event in March.
VANCOUVER, BC, Feb. 22,
2024 /CNW/ - WELL Health Technologies Corp. (TSX:
WELL) (OTCQX: WHTCF) ("WELL" or the "Company"), a digital
healthcare company focused on positively impacting health outcomes
by leveraging technology to empower healthcare providers and their
patients globally, is pleased to announce an integration update
designed to streamline business operations and position the company
for improved profitable growth
Hamed Shahbazi, Founder and CEO
of WELL commented, "We're pleased to share the results of the
latest phase of our integration activities as we refine our
organizational structure and teams to deliver our next stage of
innovation and profitable growth. WELL is now effectively comprised
of three key components, our Canadian National Clinic Group
overseen by Dr. Michael Frankel, our
Canadian Platform Services Group overseen by Amir Javidan and our WELL Health USA Group overseen by Jay Kreger. These key strategic groups and their
respective leaders are well positioned to execute on our long-term
vision of tech enabling and supporting healthcare providers while
realizing improved synergies from WELL's significant size and
scale. With approximately 5000 team members across our operations
and growing quickly, the women and men of WELL continue to be a
positive force in healthcare across the communities in which we
operate."
All of WELL's Canadian clinical operating businesses including
primary care, executive health, allied health, Longevity+ and
MyHealth specialized care offerings are included as part of WELL's
National Clinics Group and will now have P&L ownership by Dr.
Michael Frankel, WELL's Chief
Medical Officer. This is a business that is forecasted to generate
more than $300M in revenues in 2024
with strong EBITDA margins.
Another organizational change for WELL is the creation of a new
Platform Solutions Group. This group will encompass WELL's Provider
Solutions, Cybersecurity, Public Sector and Enterprise Solutions,
and Direct to Consumer Technology offerings, including our Canadian
telehealth platform. Under the leadership of Amir Javidan, WELL's Chief Operating Officer,
the Platform Solutions Group is forecasted to significantly
contribute to WELL's growth, with anticipated revenues exceeding
$75M in 2024 comprised mainly of SaaS
and services. This group will include WELL's newly deployed suite
of AI powered products and services designed to enhance the
physician experience. This strategic alignment underscores WELL's
commitment to leveraging technology to enhance healthcare delivery
and accessibility.
Also part of these strategic initiatives, WELL is implementing a
cost optimization program to enhance operational efficiency and
profitability. Updates on this program's progress will be shared
during our Q4 2023 earnings event in March, reaffirming our
commitment to demonstrating continued profitable growth.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies Corp.
WELL's mission is to tech-enable healthcare providers. We do
this by developing the best technologies, services, and support
available, which ensures healthcare providers are empowered to
positively impact patient outcomes. WELL's comprehensive healthcare
and digital platform includes extensive front and back-office
management software applications that help physicians run and
secure their practices. WELL's solutions enable more than 33,000
healthcare providers between the US and Canada and power the largest owned and
operated healthcare ecosystem in Canada with more than 165 clinics supporting
primary care, specialized care, and diagnostic services. In
the United States WELL's solutions
are focused on specialized markets such as the gastrointestinal
market, women's health, primary care, and mental health. WELL is
publicly traded on the Toronto Stock Exchange under the symbol
"WELL" and on the OTC Exchange under the symbol "WHTCF". To learn
more about WELL, please visit: www.well.company.
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SOURCE WELL Health Technologies Corp.