Business
WELL Health's Circle Medical Provides Corporate Update, Exceeds $100M USD Revenue Run Rate with Profitability and Positions for Further Growth
WELL Health's Circle Medical Provides Corporate Update, Exceeds $100M USD Revenue Run Rate with P...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n\n\n\n WELL Health's Circle Medical Provides Corporate Update, Exceeds $100M USD Revenue Run Rate with Profitability and Positions for Further Growth\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 Canada NewsWire\n \n\n\n\n\n\n In\n \n July 2024\n \n ,\n \n San Francisco\n \n based Circle Medical which is majority owned by WELL Health reported\n \n $8.87M\n \n in sales reflecting 65% year-over-year organic growth, surpassing an annualized revenue run rate of over\n \n $100M USD\n \n for the first time.\n \n\n\n\n Circle Medical has been profitable on an Adj EBITDA basis for more than 2.5 years now and continues to maintain strong gross margins of approximately 55%.\n \n\n\n\n Circle Medical has established key AI partnerships and made strategic leadership hires to drive future expansion.\n \n\n\n\n Circle Medical has retained JP Morgan as exclusive financial advisor to explore strategic options to fuel its next phase of growth.\n \n\n\n\n\n\n SAN FRANCISCO\n \n and VANCOUVER, BC\n \n ,\n \n\n Aug. 13, 2024\n \n\n /CNW/ -\n \n WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (\"\n \n WELL\n \n \" or the \"\n \n Company\n \n \"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce that its majority-owned subsidiary, Circle Medical,\n \n\n the leading digital-first primary care practice in\n \n the United States\n \n\n\n has surpassed a\n \n $100M USD\n \n revenue run rate, underscoring the company's impressive growth and continued profitability.\n \n\n\n\n\n\n\n\n\n\n\n In\n \n July 2024\n \n , Circle Medical reported\n \n $8.87M\n \n in revenue, reflecting a remarkable 65% year-over-year increase. This growth has been achieved while maintaining a 99% patient satisfaction rating\n \n\n as measured by industry standard CSAT surveys\n \n\n , highlighting Circle Medical's dedication to delivering exceptional patient care. Circle Medical has been able to maintain a strong gross margin of approximately 55% and has gener...