- WELL Health Technologies Corp. (WELL) reports record quarterly revenues of $115.7 million during its Q4, representing a 573 per cent year-over-year increase
- Its annual revenue for 2021 was $302.3 million, up by 502 per cent compared to last year
- WELL delivered 700,359 total omni-channel patient visits during the quarter
- The company expects its revenue to exceed $500 million
- WELL Health Technologies owns and operates a portfolio of clinics delivering healthcare-related services.
- WELL Health Technologies Corp. (WELL) is down 3.65 per cent, trading at $5.02 per share at 2:57 p.m. ET
WELL Health (WELL) Stock reported record quarterly revenues of $115.7 million during its Q4, a 573 per cent YoY increase.
The company’s annual revenue for 2021 was $302.3 million, an increase of 502 per cent compared to the prior year.
WELL achieved adjusted EBITDA of $25.7 million in Q4-2021, an increase of 324 per cent compared to $800,000 for 2020. It also had an adjusted net income of $5.3 million, and a positive net income of $700,00.
WELL delivered 700,359 total omni-channel patient visits during the quarter, 123 per cent up from last year. When combined with its asynchronous visits, the total number of visits was 972,740.
WELL’s subsidiaries, Circle Medical and Wisp, continue to grow rapidly and are expected to achieve an annualized revenue run-rate of more than US$80 million for March.
The company expects its revenue to exceed $500 million, and to be profitable for the full year of 2022 on an adjusted net income basis.
Hamed Shahbazi, CEO and Chairman of WELL, commented,
“Last year was a transformational year for WELL, as we completed substantial acquisitions including CRH Medical and MyHealth, as well as a number of tuck-in acquisitions, which catapulted the company to an over $460 million annualized revenue run-rate… We have added significant scale to our business and increased our leadership position as the prominent end-to-end healthcare company in Canada.”
WELL is a technology-enabled healthcare company whose objective is to impact health outcomes to empower and support healthcare practitioners and their patients. WELL has built an innovative practitioner enablement platform that includes comprehensive end-to-end practice management tools as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services.
WELL Health Technologies Corp. (WELL) is down 3.65 per cent and is trading at $5.02 per share as of 2:57 p.m. ET.
