Business
WELL Health Provides Corporate Update Demonstrating Acceleration of Revenues and Profitability in Q4
WELL Health Provides Corporate Update Demonstrating Acceleration of Revenues and Profitab...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n \n \n \n WELL Health Provides Corporate Update Demonstrating Acceleration of Revenues and Profitability in Q4\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 \n VANCOUVER, BC\n \n ,\n \n Dec. 16, 2020\n \n /CNW/ -\n \n WELL Health Technologies Corp.\n \n (TSX: WELL) (\"\n \n WELL\n \n \" or the \"\n \n Company\n \n \"), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to provide the following corporate update based on preliminary results received to date:\n \n \n \n \n \n \n \n \n \n \n WELL has closed seven transactions in fiscal Q4 so far, propelling the Company to an annualized revenue run-rate of more than\n \n $94M\n \n . In addition, based on results experienced thus far in Q4, WELL expects to be profitable on an Adjusted EBITDA\n \n (1)\n \n basis for the quarter.\n \n \n WELL's Digital Health Apps Business Unit is thriving with significant sequential organic and inorganic growth experienced in Q4 so far mainly due to record telehealth revenues achieved in November. Both US (Circle Medical) and Canadian (Insig) telehealth subsidiaries continued their strong performance and turned in profitable results for the month of November\n \n (2)\n \n .\n \n \n WELL's Allied Health business unit is performing exceptionally well with revenue of the Easy Allied subsidiary increasing by over 40% on a year-over-year basis in\n \n November 2020\n \n compared to November of last year.\n \n \n Thus far in Q4, Cycura, WELL's Cybersecurity Business Unit has been profitable and experienced its best month to date under WELL ownership in November. The business unit was significantly bolstered by the acquisition of Source 44 on\n \n December 1\n \n \n st\n \n who is thus far experiencing a strong month in December, exceeding expectations in both revenue and profit.\n \n \n DoctorCare, the Company's Billing and Backoffice Business Unit, also had a strong month in November as its Billing as a Service (\"\n \n BaaS\n \n \") revenue increased by over 30% as compared to November of last year. Thus far in\n \n D...