Well Health Technologies Corp. · TSX:WELL
Well Health Technologies — Investor Day (June 2024)
72 slides from Well Health Technologies's investor day presentation, Jun 18, 2024
Slide 1: Investor Day Presentation Part 2
Investor Day Presentation Part 2 June 18, 2024
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward- looking statement
Slide 3: Investor Day Agenda – Part Two
Investor Day Agenda – Part Two WELL Health Technologies – 2024 Investor Day Overview and Key Catalysts Hamed Shahbazi Canadian Clinics Dr. Michael Frankel Primary Care Jeremy Mickolwin WELL Diagnostics Dina Sergi Marketing Chris Ericksen 10:45 am Break ESG and Public Sector Shane Sabatino Platform S
Slide 4: WELL's Public Sector Group (PSG)
WELL’s Public Sector Group (PSG) Shane Sabatino, Chief People Officer 4
Slide 5: Titles and Responsibilities (now and in the past)
Titles and Responsibilities (now and in the past) • WELL Health: o Chief People Officer (Head of HR) o Head of Public Sector Partnerships • (Previously) TELUS Health: o President of TELUS Employer Solutions (HR) o VP Public Sector Canada - Healthcare 5
Slide 6: Premiers accept $46B health-care funding deal offered by federal government
Premiers accept $46B health-care funding deal offered by federal government 6
Slide 7: Public Sector Market Opportunity
Public Sector Market Opportunity $267B TAM $19B (6%) SAM $3B (16%) SOM = WELL winning more market share! 7
Slide 8: Introduction to WELL's Public Sector Group (PSG)
Introduction to WELL's Public Sector Group (PSG) What is the PSG? • Is a dedicated division focused on addressing the unique challenges of publicly funded healthcare. WELL's PSG is positioned... • To leverage this high growth, high margin and non-dilutive opportunity like never before! o 80 cents on
Slide 9: WELL's Public Sector Group has Structural Advantages
WELL's Public Sector Group has Structural Advantages • Leveraging Comprehensive WELL Family Assets to Provide Enterprise Solutions (sum of parts): • OceanMD Platform • EMRs (Electronic Medical Records): 1/3 of all Drs in Canada. • Clinics: Provides a network of in person facilities for comprehensive
Slide 10: Future Growth and Expansion – What's Next?
Future Growth and Expansion – What’s Next? • National Expansion: Actively expanding best in breed and bundled solutions to the feds, provinces and territories. • Leveraging the recent influx of BILLIONS of dollars across Canada • Population Health: Health Data is the new "oil", WELL Health and HWAI
Slide 11: WELL's ESG Program
“eho WELL Health WELL's ESG Program
Slide 12: 2023 Environmental, Social and Governance Report
Healthca € Transformation 0%. Pe® ~WELL Health 2023,environmental, social and governance report OP TECHNOLOGIES CORP
Slide 13: It's official: WELL Health is a Great Place to Work
ESG Priority: A healthy place to work It’s official: WELL Health is a Great Place to Work®! • WELL has been independently certified as a Great Place to Work® by Great Place to Work Institute® Canada, an achievement that reflects the company’s strong commitment to creating a workplace culture centere
Slide 14: esg.well.company
Our latest ESG Report can be found on our WELL Health site: esg.well.company 14
Slide 15: WELL Platform Solutions
WELL Platform Solutions Amir Javidan, Chief Operating Officer 15
Slide 16: Breadth and Depth of Platform Solutions
Breadth and Depth of Platform Solutions • • • • • • • 16
Slide 17: Today's Three Areas of Focus
Today’s Three Areas of Focus 1. AI Tools 2. OceanMD 3. Cybersecurity 17
Slide 18: WELL AI Product Suite
WELL AI Product Suite Building on WELL’s position of trust with providers to drive impact across clinical and administrative workflows AI Voice ✓ Deep customer An AI voice-enabled virtual understanding. assistant that writes clinical WELL uniquely notes and provides real- time medical information. u
Slide 19: WELL AI Voice's Impact on Care Delivery
WELL AI Voice’s Impact on Care Delivery WAIV Active Users 85% 350 300 3.5 mins Saved per encounter. Agree that WAIV reduced Equates to >2 hrs/ day. cognitive load 250 200 85% 88% Agree WAIV accurately 150 Agree WAIV saved time transcribed conversations documenting patient encounters 100 50 >55,000 0
Slide 20: What Well AI Voice users have been saying…
What Well AI Voice users have been saying… Ambient has made my work I’m using this new AI in my I have used scribe and life amazing and I now look program that I LOVE. Has cut dictation for some time and forward to coming to work to down my note time by found it excellent. It has use it. half…it’s a
Slide 21: OceanMD is empowering providers with best-in-class digital interoperability tools
OceanMD is empowering providers with best-in-class digital interoperability tools OceanMD has been selected by Ontario, British Columbia, New Brunswick, and Nova Scotia as the technology partner to power provincial eReferrals. 1 Patient Engagement Suite Online Booking Kiosks & Tablets Patient Messag
Slide 22: OceanMD has now secured 4 provincial partnerships
OceanMD has now secured 4 provincial partnerships 9 Active Provinces 4 Provincial Programs 1 Canadian Strategy 22
Slide 23: Supported by key public sector wins, OceanMD's growth has accelerated
Supported by key public sector wins, OceanMD’s growth has accelerated +62% +109% +60% Ocean User Growth (to 41K) Sent eReferrals Online Bookings +47% +32% +54% Tablet/Kiosk Uses Patient Messages Patient Reminders Ocean powers 1.5M+ eReferrals and 26M+ patient engagements per year 23
Slide 24: Nova Scotia eReferrals Performance To-Date
Nova Scotia eReferrals Performance To-Date 12K+ 90% 95% eReferrals per Month Primary Care Providers Surgeons Onboarded and Growing Rapidly Onboarded as Senders as Receivers Provincial Mandate to Commitment to Program Exploring Expansion Adopt eReferrals Support & Change to New Programs & Announced M
Slide 25: Next-Gen Cybersecurity: Secure, Advanced, Reliable Solutions
Next-Gen Cybersecurity: Secure, Advanced, Reliable Solutions. Defensive Offensive Technology 24/7 CYBERSOC. Penetration Testing. Network Devices. Curated Threat Intel. Red Team Exercises. Firewalls. Platform Maturity. Vulnerability Assessments. Email Security. Governance for a dynamic Phishing Simul
Slide 26: Financial Profile of WELL Platform Solutions
Financial Profile of WELL Platform Solutions WELL Platform Solutions grew revenue and EBITDA by 20% and 65% respectively in 2023, demonstrating the significant operating leverage in the business Revenue1 EBITDA1 (C$ in millions) (C$ in millions) 70.0 14.0 61.7 11.9 60.0 12.0 51.5 50.0 10.0 40.0 36.4
Slide 27: Provider Solutions/SaaS Performance
Provider Solutions/SaaS Performance WELL has a world-class digital health business with 3-year revenue and EBITDA CAGRs of 51% Revenue Growth1 Gross Margin1 EBITDA Growth1 (C$ in millions) (C$ in millions) 40.0 88.0% 12.00 37.6 85.9% 86.0% 85.4% 10.6 35.0 84.0% 10.00 30.0 82.0% 80.9% 26.9 8.00 25.0
Slide 28: Questions?
Questions? TECHNOLOGIES CORP
Slide 29: WELL USA
WELL USA Jay Kreger, CEO WELL USA 29
Slide 30: WELL Health USA's Lines of Business
WELL Health USA’s Lines of Business CRH Anesthesia is an anesthesia CRH O’Regan provides specialized Founded in 2010, Radar Healthcare provider formed in 2014. CRH gastroenterology care. More than Providers, Inc. is a professional Anesthesia addresses operational, 3,000 physicians nationwide use med
Slide 31: WELL USA's National Footprint
WELL USA’s National Footprint Unrivaled Breadth of Relationships and Highly National Presence with Growing Regional Density Scalable Infrastructure • Relationships with 3,700+ GIs and 1,300+ practices nationwide established via proven track record of delivering value • Anesthesia partnerships with ~
Slide 32: WELL USA Business Model
WELL USA Business Model Our flexible business models tailored to the unique needs of each group We are Currently Partnering with Groups that are: Acquisitions / Partnerships 1 Considering an anesthesia partner and realizing value in their business 1 2 Outsourcing their anesthesia and considering bri
Slide 33: CRH Anesthesia
CRH Anesthesia CRH Anesthesia is the largest single specialty anesthesia provider partnering primarily with GI groups across the US, and, has leveraged its scale to support multispecialty facilities Company Snapshot Affiliated ASC Count 148 650 615,000 GI Physicians Across 47 126 Patient Cases Annua
Slide 34: RADAR Recruitment Overview
RADAR Recruitment Overview RADAR enhances the CRH service offering and our ability to provide timely and efficient staffing solutions to your center in order to avoid the disruption of care to patients. The RADAR Difference Affiliated ASC Count • Recruiters are exclusive to anesthesia and have diffe
Slide 35: Multi-Pronged Approach to M&A
Multi-Pronged Approach to M&A Existing Infrastructure M&A Criteria Development Pipeline Established Payor Partners Qualified Acquisition Leads 10+ Attractive Geography Identified Targets Ability to Leverage Existing Network / Infusion, Pharmacy, Synergistic Staffing, Pathology, Primary / UC Clinics,
Slide 36: CRH Financial Profile
CRH Financial Profile Revenue Adj. EBITDA (US$ millions) (US$ millions) 250.0 70.0 60.0 200.0 50.0 150.0 40.0 30.0 100.0 20.0 50.0 10.0 0.0 0.0 2020 2021 2022 2023 2020 2021 2022 2023 36
Slide 37: Circle Medical
Circle Medical George Favvas, CEO Circle Medical 37
Slide 38: Mission
Mission Our mission is to build the technology that makes quality, delightful primary care accessible to everyone on the planet. 38
Slide 39: Fastest growing US digital primary care provider
Fastest growing US digital primary care provider Revenue EBITDA $95M USD 80 Millions Revenue run rate 70 143% 60 3-year CAGR 50 40 900k/year Appointment run rate 30 20 350+ 10 Medical providers - 2019 2020 2021 2022 2023 ✅ EBITDA Profitable -10 39
Slide 40: Full-stack primary care practice
Full-stack primary care practice Proprietary mobile app Proprietary EHR (Helix) Proprietary network Proprietary data Patients report an NPS of 60+, Providers can complete Access to same-day availabilities Structured data from 1 million patient far above the industry average common tasks like chartin
Slide 41: Why primary care?
Why primary care? Large market Health records Care plans $300B TAM, increasingly moving to virtual Device data Prescriptions Sticky Primary care is longitudinal, with high engagement and LTV Lab testing Referrals Data to feed AI Massive data that can be used to improve outcomes and develop new lines
Slide 42: National footprint
National footprint 97% of visits are virtual More scalable model Virtual visits in 35 states Covering 80% of the US population New York City San Francisco Lower Manhattan Financial district 3 flagship brick and mortar clinics With 20 satellite clinics across the country San Francisco and Montreal Co
Slide 43: Business model
Business model $123 Revenue/visit 54% Gross margin $159 CAC $1,123 24-month LTV 43
Slide 44: Land and expand strategy
Land and expand strategy 44 Video - Mar 24 2024
Slide 45: Better outcomes due to artificial intelligence
Better outcomes due to artificial intelligence Scribe Q1 Execute Q2 Assist Q3 Assure Q4 Fills out clinical notes, adds Submits lab, imaging,and Makes recommendations Reviews charts and patient ICD-10 codes pending prescription orders for to providers during panel to ensure clinical provider approval
Slide 46: Target $1billion revenue in five years
Target $1billion revenue in five years TAM: $300 billion Total US Primary Care spend SAM: $150 billion Adults with commercial insurance SOM: $16 billion Virtual primary care in states we currently service, reachable via current channels 46
Slide 47: Proven leadership team
Proven leadership team George Favvas Georgia Psarras Cofounder, Chief Executive Officer Chief Financial Officer YC alum, led Circle from $0 to $80M revenue run 20 years public and private company experience in software, rate, 2 prior exits healthcare and transportation JS Boulanger Luc Vezina Cofoun
Slide 48: Wisp
Wisp Monica Cepak, CEO Wisp 48
Slide 49: Intro: Monica Cepak, Chief Executive Officer
INTRO Monica Cepak CHIEF EXECUTIVE OFFICER Monica Cepak brings ~20 years of expertise in both the technology and healthcare sectors. Prior to becoming CEO, she served as Chief Marketing Officer at Wisp and was responsible for patient acquisition and marketing strategy. Her professional journey is se
Slide 50: Making sexual healthcare accessible and stigma-free
MAKING SEXUAL HEALTHCARE ACCESSIBLE AND STIGMA-FREE Our mission is to democratize access to sexual and reproductive healthcare. We empower our patients to take ownership over their health, by providing convenient, affordable, same-day treatments for common, yet stigmatized conditions —all from the c
Slide 51: We've built one of the largest sexual & reproductive brands in the US
CURRENT OPERATIONS WE’VE BUILT ONE OF THE 75 522k → 1.1M 50+D.C. LARGEST SEXUAL & Total Patients (From 2021 to 2023) Patient NPS Score States Served REPRODUCTIVE BRANDS IN THE US … Top 5 399K → 900K+ Recognized Women’s 60+ Annual Consultations Health Brand in the Treatment Options (From 2021 to 2023
Slide 52: DTC Business Model
DTC BUSINESS MODEL Revenue and Growth (2021A–2023A) (US$MM / %) 100% Cash Pay 25 Providers Typically lower cost than copay, Network of MDs, OBGYNs, NPs with premium charge for who deliver care through async same day pharmacy pick up and sync consultations service 3-5 Hours Time to Low CAC Complete C
Slide 53: A specialized portfolio of products helps us scale
A SPECIALIZED PORTFOLIO OF PRODUCTS HELPS US SCALE Vaginal Reproductive Wellness Our commitment to improving Health Herpes Health Prevention Essentials STI & STD outcomes is reflected in our range of treatments which Bacterial Vaginosis Cold Sores Control Your Cycle D-Mannose Balancing Wash Chlamydi
Slide 54: A highly engaged and valuable base of patients
A HIGHLY ENGAGED AND VALUABLE BASE OF PATIENTS Active annual patients (’000s) Avg. monthly active patients (’000s) 1M+ patients served 519 5x 3.2x 54% 413 69 88 Active Patient LTV / CAC(1) Email Open 253 28 Growth (Realized over 36 Rate 43 25 (2020 to 2024) months) 112 17 61 17 44 9 27 8 Proven trac
Slide 55: Expansion to capture additional share of the women's healthcare spend
EXPANSION TO CAPTURE ADDITIONAL SHARE OF THE WOMEN’S HEALTHCARE SPEND Women’s Health Cycle Other Chronic Conditions $15B Age 60+ more in spend on out-of-pocket Hormone Replacement healthcare costs per year by working- ~$3.3B age US women collectively compared TAM to men Menopause In 2025 Age 40-60 ~
Slide 56: New services & capabilities designed to delight our patients
NEW SERVICES & CAPABILITIES THAT ARE DESIGNED TO DELIGHT OUR PATIENTS Fertility Wisp+ Provider Platform AI Initiatives Consumer App OTC supplements, testing and New monthly membership Ongoing AI investments prescriptions for women who Enhanced provider Launch of new program that will unlock to optim
Slide 57: Experienced executive team with track record of success
EXPERIENCED EXECUTIVE TEAM WITH TRACK RECORD OF SUCCESS Chief Executive Officer Chief Operating Officer Fractional CFO Chief Medical Officer Fractional CTO Monica Cepak Shervin Bakhtiari Samantha Hystad Dr. Jillian Lopiano Simon Williams Monica Cepak has 20+ years of Shervin Bakhtiari has 25+ years
Slide 58: Questions?
Questions? TECHNOLOGIES CORP
Slide 59: WELL Finance
°° WELL Health TECHNOLOGIES CORP WELL Finance Eva Fong, CFO
Slide 60: Historic Financial Growth
Historic Financial Growth WELL has achieved exceptional growth in revenue, EBITDA, and free cash flow, underscoring our strong financial foundation and ability to generate consistent value Revenue Adj. EBITDA (C$ in millions) (C$ in millions) 960.0 150.0 1,000.0 -980.0 125.0 130.0 -130.0 113.4 776.1
Slide 61: Free Cashflow Available to Shareholders
Free Cashflow Available to Shareholders WELL has provided guidance of ~C$55 million in FCFA2S1 in 2024. FCFA2S (C$ in millions) 60.0 55.0 50.0 42.4 40.0 30.0 20.0 10.0 0.0 2023A 2024E We define FCFA2S as Adjusted EBITDA available to Shareholder less cash tax, cash interest and cash capex. 61
Slide 62: Balance Sheet Strength and Leverage
Balance Sheet Strength and Leverage Robust cash position, manageable debt levels, and improving leverage ratios as EBITDA and FCFA2S grows Net Debt to Shareholder Adj. EBITDA Ratio1 4.50x 4.00x 3.50x Inc. Convertible Debenture 3.00x Exc. Convertible Debenture 2.50x 2.00x Q2/22 Q3/22 Q4/22 Q1/23 Q2/2
Slide 63: Doctors Pay – Typical Non-WELL Clinics
Doctors Pay – Typical Non-WELL Clinics 2 full time staff to pay 200 doctors = 320 hrs/month • • • • • • 63
Slide 64: WELL Doctor Pay Automation
WELL Doctor Pay Automation 64
Slide 65: Doctors Pay – WELL Clinics
Doctors Pay – WELL Clinics 10 hours/month to pay 200 doctors = 31x efficiency • • • 65
Slide 66: HEALWELL AI
HEALWELL AI Hamed Shahbazi, Founder and CEO 66
Slide 67: HEALWELL AI
TSX: AIDX | HEALWELL AI • AI-enabled clinical decision support is the future of healthcare. Headquarters: Toronto, ON • HEALWELL provides leading AI tools and software to healthcare providers, with the ability to screen and detect hundreds of rare, complex and chronic d iseases . Number of Employees
Slide 68: WELL and HEALWELL AI
WELL and HEALWELL AI Rationale for the Transaction Current Valuation of WELL’s Position 9% Common Stock 16% • Significant Opportunity to Mobilize Warrants & Convertible Debentures Data from WELL Ecosystem Call Option (Class A) • Opportunity to Benefit from Pure-Play AI 62% 13% Other AIDX Shareholder
Slide 69: Final Thoughts
Final Thoughts Hamed Shahbazi, Founder and CEO 69
Slide 70: Best-in-Class Leading Technology
Best-in-Class Leading Technology Proven Capital Allocation Model Increasing Shareholder Value by Unlocking Sum of Parts Improving Cashflows and Decreasing Dilution “Generational” Opportunity in Canadian Clinics Strong and Deep Management Team °° WELL Health TECHNOLOGIES CORP
Slide 71: Questions?
Questions? TECHNOLOGIES CORP
Slide 72: Contact
Contact Hamed Shahbazi CEO, Chairman & Founder hamed@well.company Tyler Baba Investor Relations investor@well.company www.well.company 550-375 Water Street Vancouver, BC V6B 5C6 Canada 72 72