WELL Health Technologies Corp. - Chairman and CEO, Hamed Shahbazi
Chairman and CEO, Hamed Shahbazi
Source: Cambridge House International Inc.
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  • WELL Health Technologies (TSX:WELL) is stepping up its VirtualClinic+ service amid ongoing COVID-19 fears
  • VirtualClinic+ offers patient-to-doctor communication via a remote video, phone, and messaging platform
  • The service currently has 40 doctors on the program, with another 60 in the pipeline
  • The company also noted its consistent year-to-date performance
  • WELL Health stock is currently up 5.56 per cent to $1.42 per share

WELL Health Technologies (TSX:WELL) is stepping up its VirtualClinic+ service amid ongoing COVID-19 fears.

VirtualClinic+ enables remote patient-to-doctor communication via a secure video, phone, and messaging platform. The service currently has 40 active doctors, with an additional 60 coming onboard in the coming days and weeks.

WELL Health’s decision to ramp up VirtualClinic+ comes as public health officials anticipate a significant increase in demand for healthcare.

This week in particular has seen widespread initiatives from countries around the world, attempting to curb the spread of COVID-19. The virus has now infected almost 140,000 people, with over 5,000 fatalities globally.

Hamed Shahbazi, CEO of WELL Health, believes that the company is in a strong position to provide the necessary support.

“Based on feedback from public health officials and consultation with WELL’s own medical advisory board, we believe VirtualClinic+ is an effective tool to provide additional support to our public health system, during a time when we anticipate unprecedented demand for healthcare services.

“WELL is making every effort to ensure it ramps up its readiness to support the emerging demand,” he said.

Once activated on the platform, doctors will have the option to keep steady working hours with their existing patients, or “uberize” themselves by offering services to those not under their care.

WELL Health also pointed out its strong year-to-date performance, citing consistent revenue and patient volumes.

Eva Fong, WELL Health’s CFO, said that the company currently has a strong base for growth.

“The company’s goal in 2020 is to continue to execute on its organic and in-organic growth strategy, while providing the highest standard of care possible to patients. We will achieve this by leveraging the use of digital health-related technologies and shared services model to service its patients.

“WELL has recently strengthened an already solid balance sheet in order to continue to execute on its growth strategies, with the recently announced convertible debenture financing of C$11.0 million from a large Canadian institutional investor and Mr. Li Ka-shing,” she added.

WELL Health Technologies (WELL) is currently up 5.56 per cent to $1.42 per share as of 10:20am EST.

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