WELL Health - Chairman & CEO Hamed Shahbazi
Chairman & CEO Hamed Shahbazi
Source: WELL Health
  • WELL achieved a total of 260,337 omnichannel patient visits in May, a 40 per cent YoY increase
  • WELL is on track to meet the previously stated guidance of over $525 million in revenue and approaching $100 million in Adjusted EBITDA for 2022
  • WELL Health Technologies owns and operates a portfolio of primary clinics delivering healthcare-related services
  • Well Health (WELL) Stock Price is down 0.28 per cent on the day, trading at C$3.53 per share at 11 am ET

WELL Health Technologies Corp. (WELL) has provided a business update for May 2022.

WELL achieved a total of 260,337 omni-channel patient visits in May 2022, representing a year-over-year increase of 40 per cent compared to May 2021.

Combining WELL’s omnichannel patient visits, MyHealth’s diagnostic visits and Wisp’s asynchronous patient consultations, WELL achieved 311,739 patient interactions in May 2022, a record month for the company.

WELL is on track to meet the previously stated guidance of over $525 million in revenue and approaching $100 million in Adjusted EBITDA for the full year 2022.

Hamed Shahbazi, Chairman and CEO of WELL, commented on the results.

“Both April and May have thus far reflected record revenue performances for WELL and setting the stage for a strong fiscal Q2 performance. Our revenue growth continues to be resilient while we leverage structural advantages in our business as the largest owner operator of outpatient clinics in Canada and one of the largest providers of virtual care services in Canada and a rapidly emerging provider in the United States. Patient visits continue to be a strong leading indicator for WELL’s business, and we continue to see significant growth on a sequential and year-over-year basis. Between our balanced focus on growth and profitability and the additional cash on our balance sheet, we are in a fantastic position to be opportunistic in the market and generate long term value for our shareholders.”

WELL Health Technologies owns and operates a portfolio of primary clinics delivering healthcare-related services. WELL’s platform offers digital healthcare solutions worldwide for medical clinics and practitioners.

WELL Health Technologies Corp. (WELL) is down 0.28 per cent on the day, trading at C$3.53 per share at 11 am ET.

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