WELL Health's Circle Medical Provides Corporate Update - In July 2024, San Francisco based Circle Medical which is majority owned by WELL Health reported $8.87M in sales reflecting 65% year-over-year organic growth, surpassing an annualized revenue run rate of over $100M USD for the first time.
- 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%.
- Circle Medical has established key AI partnerships and made strategic leadership hires to drive future expansion.
- Circle Medical has retained JP Morgan as exclusive financial advisor to explore strategic options to fuel its next phase of growth.
SAN FRANCISCO and VANCOUVER, BC, Aug. 13, 2024 /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL" or the "Company"), 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, the leading digital-first primary care practice in the United States has surpassed a $100M USD revenue run rate, underscoring the company's impressive growth and continued profitability.
WELL Health's Circle Medical Provides Corporate Update, Exceeds $100M USD Revenue Run Rate with Profitability and Positions for Further Growth (prnewswire.com)