Business
WELL Health Provides Corporate Update Demonstrating Acceleration of Business, New Innovative Testing Programs and a Strong M&A Pipeline
WELL Health Provides Corporate Update Demonstrating Acceleration of Business, New Innovat...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n \n \n \n WELL Health Provides Corporate Update Demonstrating Acceleration of Business, New Innovative Testing Programs and a Strong M&A Pipeline\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n WELL Health Provides Corporate Update Demonstrating Acceleration of Business, New Innovative Testing Programs and a Strong M&A Pipeline\n \n \n Canada NewsWire\n \n \n VANCOUVER, BC and TORONTO, Nov. 19, 2020\n \n \n \n \n \n WELL is partnering with a leading national lab company, via its Tia Health subsidiary, and providing services to support patients who are interested in obtaining COVID-19 (SARS-CoV-2) testing. WELL is also working on offering its own direct-to-consumer offering for the sale and support of COVID-19 Antibody testing.\n \n \n Circle Medical, WELL's majority owned US subsidiary, has reported that its current month to date results in November reflect better than a 40% increase in revenues as compared to the previous month. If maintained, this would put Circle Medical's yearly revenue run-rate at more than\n \n $10M\n \n CAD and growing quickly. Circle Medical also expects to launch a national COVID-19 mail-in test in the next few weeks through its patient app.\n \n \n Thus far in fiscal Q4, WELL continues to see similar strength in its business as compared to its Q3 results announced last week where it demonstrated strong organic Quarter-over-Quarter (QoQ) growth of 57% in its in-person consultation volumes and a substantial increase in run-rate revenues.\n \n \n WELL has announced and/or completed 4 acquisition transactions in the last several weeks adding approximately\n \n $38M\n \n in incremental annual revenues, based on past performance, which puts WELL's annual revenue run-rate at better than\n \n $88M\n \n . WELL maintains a strong and growing pipeline of new acquisition opportunities including another 10 signed LOIs that represent additional revenue and EBITDA growth opportunities. The Company has more than\n \n $100M\n \n in funds presently in treasury with no debt.\n \n \n \n \n VANCOUVER, BC\n \n and\n \n TORONTO\n \n ,\n \n Nov. 19,...