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Kalkine Media ASX Share Market News & Research

WELL Health (TSX: WELL) Expects To Generate C$ 94 Million Annual Revenue

December 16, 2020 12:09 PM EST | By Team Kalkine Media
Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

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  • WELL Health Technologies Corp, a digital assets provider for the healthcare sector, reported interim results update on December 16.
  • As per the update, WELL has concluded seven transactions in the ongoing quarter, driving its annual revenue to more than C$ 94 million. Furthermore, the healthcare company is expecting to be profitable on an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the quarter.
  • Its digital health apps segment is flourishing with significant sequential organic and inorganic growth in the current quarter because of record telehealth revenues last month.
  • WELL’s Allied health business segment showed 40 per cent revenue surge year-over-year (YoY) basis in November.
  • WELL forecasted a robust balance sheet with nearly C$ 85 million in cash and no debt. Hence, the company will continue its assertive organic and inorganic development plans. The company accelerated its merger and acquisition (M&A) activities in the current quarter, said founder and CEO Hamed Shahbazi.
  • DoctorCare, WELL’s Billing and Backoffice Business segment, saw its revenue soaring by over 30 per cent YoY in November.

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