WELL Health Technologies Corp T.WELL

Alternate Symbol(s): WHTCF | T.WELL.DB

Healthcare

WELL Health Technologies Corp. is a practitioner-focused digital healthcare company. The Company develops technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. Its business units include Canadian Patient Services, WELL Health USA Patient Services and SaaS and Technology Services. WELL Health USA Patient and Provider Services includes Primary Circle Medical, Primary WISP, Specialized CRH Medical, and Specialized Provider Staffing. Its healthcare and digital platform includes front and back-office management software applications that help physicians run and secure their practices. Its focused markets include the gastrointestinal market, women's health, primary care and mental health. Its solutions enable 34,000 healthcare providers between the United States and Canada and power owned and operated healthcare’s in Canada with 165 clinics supporting primary care, specialized care and diagnostic services.

TSX:WELL - Post by User

WELL Health Technologies Corp

<< Previous

Bullboard Posts

Next >>

Post by retiredcfon Jun 10, 2022 12:22pm

200 Views

Post# 34747432

TD

Exercising extreme caution in these markets. That said, their current target remains a double ($7.00). GLTA

WELL Health Technologies Corp.

(WELL-T) C$3.54

Continued Strong Execution; F2022 Guidance Reaffirmed Event

This morning, WELL provided a business update and reaffirmed its F2022 guidance.

Impact: NEUTRAL

Business momentum continues to build. WELL delivered another record monthly revenue record in May, helped by:

A 40% y/y increase in omni-channel patient visits (260,337 in total). Including MyHealth's diagnostic visits and Wisp's asynchronous patient consultations, WELL had 311,789 patient interactions in May.
Continued strong (and profitable) growth at Circle Medical and Wisp, with preliminary May results indicating a combined ARR of >$110mm (>150% y/y growth), modestly ahead of our forecasts, and positive Adj. EBITDA. Patient visits grew 484% y/y at Circle Medical while Wisp experienced a 55% y/y increase in asynchronous patient consultations that helped drive significant incremental e- pharmacy revenue. WELL continues to expect that the combined ARR will exceed $130mm later this year.
CognisantMD is supporting >45k monthly patient referrals and consults in Ontario and Nova Scotia, up ~30% from the ~35k monthly referrals/consults when it was acquired in December 2021. WELL expects this growth to further accelerate as Ocean continues to become the preferred e-referral tool for public health authorities.

F2022 guidance maintained. WELL reaffirmed its F2022 guidance of >$525mm in revenue (TD - $529.8mm/consensus - $528.4mm) and Adj. EBITDA approaching $100mm (TD - $97.1mm/consensus - $98.4mm).

Creating more value with M&A than NCIB? According to SEDI, WELL has not bought back any stock since closing the $34.5mm bought deal last month and renewing its NCIB last week, despite the shares trading near its 52-week low, both below the issue price and well below where they previously bought back stock in early April (C$4.80-C$4.90/share). This seems to imply that management believes its M&A plans can add more value than buying back stock at these low levels.

Commitment to ESG/diversity. WELL announced that it is committed to achieving at least 33% female representation on its Board by the end of 2022. Given its current board composition (four men/one woman), we assume one female Director will be added by year-end. It also plans to release its inaugural ESG report ahead of its AGM (June 17).