WELL Health Streamlines Operations Into Two Business Lines

WELL Health Technologies Corp. (TSX: WELL) seems to be reorganizing and streamlining its operations. The firm shared today that it has updated its lines of business to focus on two divisions.

The company is “simplifying” its organization by forming two key business lines: Omni-Channel Patient Services and Virtual Services.

The key difference between the two is its exposure to brick-and-mortar operations. Omni-Channel Patient Services have both in-person and virtual care models while Virtual Services have little exposure to in-person operations.

“WELL provides healthcare practitioners a powerful choice to modernize their practice, you can choose to source any part of our digital practitioner enablement platform directly for your own patient service business or you can join one of WELL’s own patient services businesses,” said WELL Health’s Chief Medical Officer Michael Frankel.

The firm also relayed that the recently acquired CRH Medical and MyHealth Partners will also be part of Omni-Channel Patient Services. CRH Medical is expected to deliver around US$40 million in free cash flow in 2021 while MyHealth Partners is expected to deliver around $20 million in free cash flow in 2022.

WELL Health Technologies Corp. last traded at $6.52 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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