University of Kentucky HealthCare now offering same-day lung cancer diagnosis, treatment
LEXINGTON, Kentucky (WLEX) - The University of Kentucky (UK) Markey Cancer Center is showcasing same-day lung cancer diagnosis and treatment technology.
It's in a demonstration in a state-of-the art mobile semi-truck.
'We can tell them, 'Yes, it's a cancer, and then it's out before they're even awake,' Shari Meyerson said, a thoracic surgeon.
The technology enables same-day diagnosis and treatment for the cancer, and allows patients 'to be able to get an answer right there,' Dr. Meyerson said.
The ION Endoluminal system da Vinci 5 surgical robots has enabled UK Healthcare to do six surgeries through a combined procedure since February.
It addresses a critical gap in lung cancer care as patients traditionally have to wait weeks or even months between diagnosis and surgery.
'That wait between diagnosis and treatment knowing that there is a cancer in your body...that is horrible for patients,' Meyerson said.
For Scott Yee, being able to biopsy lung nodules and remove tumors in one session is a game changer.
'Having the diagnosis and treatment of that cancer all in one time is of essence for our patients,' Yee said.
A Markey patient, Lisa Buede sends this message to anyone thinking about getting early lung cancer screening: 'It's better knowing and to just get it out of the way...if you don't smoke you could still have cancer,' Buede said.
A smoker for 45 years, Buede is incredibly grateful that she was treated with this technology offered by UK.
'It saved my life,' Buede said.
Buede quit smoking and continues to be an advocate for these latest advancements at UK after undergoing treatment initially in December of 2024.
By Drew Amman.
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National Post
22 minutes ago
- National Post
Enveric Biosciences Reports Second Quarter 2025 Financial and Corporate Results
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Article content CEO Commentary Article content 'The second quarter of 2025 represented a period of focused execution across all key areas of our business, most notably with the advancement of EB-003, our lead drug candidate,' said Joseph Tucker, Ph.D., Director and CEO of Enveric. 'We disclosed important new data demonstrating that EB-003 engages both the 5-HT₂ A and 5-HT₁ B receptors through a dual mechanism of action. We believe this receptor pairing forms the foundation for a novel pharmacological class. With this discovery, we believe EB-003 has emerged as a first-in-class therapeutic candidate with a dual mechanism that represents a unique therapeutic target with real-world clinical utility.' Article content 'This new pharmacological class is defined by agonism at the 5-HT₁ B receptor, which modulates affective tone, impulsivity, and reward pathways, as well as concurrent partial agonism at the 5-HT₂ A receptor, which supports cortical neuroplasticity. We believe this novel and unique profile has the potential to promote adaptive rewiring of brain circuits (i.e. neuroplasticity) while stabilizing emotional reactivity, motivational control, and behavioral regulation (i.e., generally psychological stability). It is expected to unlock the therapeutic benefits of serotonin mediated plasticity and guide those effects toward outcomes that are durable, broadly accessible, and clinically relevant for real-world patient populations.' Article content 'By targeting this specific set of neural receptors, the intent is for EB-003 to recalibrate emotional reactivity, facilitate extinction of maladaptive fear responses, and restore motivational tone. These are mechanisms believed to support lasting recovery in conditions such as post-traumatic stress disorder (PTSD), treatment resistant depression, and generalized anxiety. The addition of 5-HT₁ B agonism is intended to guide plasticity into emotionally grounded outcomes; thus, the designation of EB-003 as a first-in-class drug candidate.' Article content 'With these advances, EB-003 continues to differentiate itself in a competitive neuropsychiatric drug development landscape, with pre-IND test data for EB-003 pointing to a fast acting, durable, and non-hallucinogenic treatment for serious mental health conditions where currently available therapies are either too slow, poorly tolerated, or not very effective.' 'Beyond EB-003, we made meaningful progress in expanding our intellectual property portfolio, which remains a foundational pillar of our strategy. During the second quarter, we secured an additional patent grant in our EVM-301 portfolio and patent allowances across multiple distinct chemical classes in our EVM-301 and EVM-401 portfolios, further reinforcing Enveric's leadership in the discovery of rationally designed neuroplastogens. With a growing portfolio of issued patents and new filings underway, we are seeking to build a durable, competitive moat around our lead assets and future pipeline candidates.' Article content 'Looking ahead to the remainder of 2025 and into 2026, we remain sharply focused on filing an Investigational New Drug (IND) application for EB-003 and preparing for its first-in-human study. We also continue to benefit from ongoing dialogue and growing interest from established pharmaceutical companies with a strategic focus in neuropsychiatry, which underscores the increasing relevance of our platform in a field that has lacked innovation for far too long.' Article content Second Quarter and Recent Corporate Highlights Article content Revealed EB-003's Dual Mechanism of Action: Enveric confirmed that EB-003, its lead compound, engages both 5-HT₂ A (partial agonist) and 5-HT₁ B (agonist) receptors, a dual mechanism not previously reported in clinical-stage neuropsychiatric drug candidates. This unique pharmacology forms the basis of a new pharmacological class designed to promote therapeutic neuroplasticity, emotional recalibration, and enhanced control over affective and behavioral responses without the need for hallucinogenic intervention. Progressed Toward IND Submission: IND-enabling studies for EB-003 remain on track, with submission to the U.S. FDA anticipated in early 2026. Enveric continues to generate data supporting EB-003's safety, tolerability, and pharmacokinetic profile, including results supporting extended, repeat-dose oral use. Expanded Therapeutic Opportunity: PTSD: In a validated preclinical model, EB-003 produced rapid extinction of contextual fear responses following a single administration. Chronic Depression: Mice treated with EB-003 exhibited a statistically significant reduction in behavioral despair (p < 0.01) in the forced swim test, a standard model of antidepressant efficacy. Dosing Profile: Supporting data indicate EB-003 is well tolerated with daily oral administration, distinguishing it from hallucinogenic agents that require intensive supervision and infrequent dosing. Article content Intellectual Property Expansion Article content Broadened Patent Portfolio Across Two Molecular Classes: Filed a new patent application covering a novel chemical structure with potential relevance in neurodegenerative and cognitive indications. Received a Notice of Allowance from the U.S. Patent and Trademark Office for a second mescaline-derivative analogs patent, reinforcing Enveric's leadership in modifying classical psychedelic frameworks into non-hallucinogenic, drug-like structures. Secured a composition of matter patent on N-Substituted Tryptamine Derivatives, extending the Company's IP coverage of EVM-301 molecules into this new class of drugs and the serotonergic field. Article content Second Quarter 2025 Financial Results Article content Net loss attributable to common stockholders was $2.5 million for the quarter ending June 30, 2025, or $0.97 per share, compared to a net loss of $1.9 million, or $3.72 per share, for the same period in 2024. The net loss for the quarter included approximately $0.2 million in non-cash expenses related to stock-based compensation and other non-cash charges. As of June 30, 2025, Enveric had cash and cash equivalents of $2.8 million. The Company continues to fund its operations through the use of various financing tools. The Company has raised net proceeds of $4.9M for the six months ended June 30, 2025. Article content About Enveric Biosciences Article content Enveric Biosciences (NASDAQ: ENVB) is a biotechnology company focused on developing next-generation, small-molecule neuroplastogenic therapeutics that address unmet needs in psychiatric and neurological disorders. 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Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as 'plans,' 'expects' or 'does not expect,' 'proposes,' 'budgets,' 'explores,' 'schedules,' 'seeks,' 'estimates,' 'forecasts,' 'intends,' 'anticipates' or 'does not anticipate,' or 'believes,' or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, should, would, or might occur or be achieved. Forward-looking statements may include statements regarding beliefs, plans, expectations, or intentions regarding the future and are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, the ability of Enveric to: finalize and submit its IND filing to the U.S. Food and Drug Administration; carry out successful clinical programs; achieve the value creation contemplated by technical developments; avoid delays in planned clinical trials; establish that potential products are efficacious or safe in preclinical or clinical trials; establish or maintain collaborations for the development of therapeutic candidates; obtain appropriate or necessary governmental approvals to market potential products; obtain future funding for product development and working capital on commercially reasonable terms; scale-up manufacture of product candidates; respond to changes in the size and nature of competitors; hire and retain key executives and scientists; secure and enforce legal rights related to Enveric's products, including patent protection; identify and pursue alternative routes to capture value from its research and development pipeline assets; continue as a going concern; and manage its future growth effectively. Article content A discussion of these and other factors, including risks and uncertainties with respect to Enveric, is set forth in Enveric's filings with the Securities and Exchange Commission, including Enveric's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Enveric disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Article content Article content Article content Article content Contacts Article content Investor Relations Tiberend Strategic Advisors, Inc. David Irish (231) 632-0002 dirish@ Media Relations Tiberend Strategic Advisors, Inc. Casey McDonald (646) 577-8520 cmcdonald@ Article content
National Post
an hour ago
- National Post
WELL Health Reports Record Revenue, Adjusted EBITDA, and Adjusted Net Profit in Q2-2025, Upgrades Guidance, and Delivers First-Ever Quarter With More Than 1 Million Patient Visits in Canada
Article content WELL achieved record quarterly revenues of $356.7 million in Q2-2025, an increase of 57% compared to Q2-2024 driven by organic growth and acquisitions. Excluding the impact from Circle Medical's deferred revenue adjustments or 'CM Deferrals', revenue would have been $347.0 million in Q2-2025, representing 53% year-over-year growth. Results were positively impacted during the quarter by the addition of $40.5 million of revenue from the inclusion of HEALWELL AI. WELL achieved record Adjusted EBITDA (1) of $49.7 million in Q2-2025, an increase of 231% compared to Q2-2024. Excluding the impact from CM Deferrals, Adjusted EBITDA would have been $40.0 million in Q2-2025. Improved EBITDA led to record Adjusted Net Income of $25.8 million or $0.10/share which was 532% higher than Q2-2024 and IFRS Net Income of approximately $17M for the quarter. Canadian Patient Services revenue was $114.5 million in Q2-2025, an increase of 49% compared to $76.7 million in Q2-2024, partially driven by organic growth of 17.8% Consolidated gross margins increased by 423 bps to 44.5%. Excluding CM Deferrals, consolidated gross margins would have increased by 270 bps to 43.0%. WELL reaffirms its previously provided annual guidance for annual revenue between $1.40 billion to $1.45 billion with Adjusted EBITDA between $190 million to $210 million. Excluding CM Deferrals, WELL reaffirms guidance for annual revenue between $1.35 billion to $1.40 billion and Adjusted EBITDA between $140 million and $160 million, In both cases, WELL is pleased to improve guidance to the upper half of the guidance ranges noted above. Article content VANCOUVER, British Columbia — WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) (the ' Company ' or ' WELL '), 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 its interim consolidated financial results for the quarter ended June 30, 2025. Article content Hamed Shahbazi, Chairman and CEO of WELL commented, 'I am very proud of our performance this quarter as it reflects a very significant milestone in our history with best-ever performances across most of our key financial metrics. We delivered record performances across Revenue, Adjusted EBITDA, Adjusted Net Income, and patient visits. Furthermore, we would have reported best-ever Free Cash Flow Available to Shareholders had we not had elevated cash taxes and capital expenditures due to new investments made in our Canadian clinics, executive health and longevity health portfolios, which have historically delivered excellent returns on capital invested (ROIC). Importantly, we also delivered $17M in IFRS net profit for the quarter demonstrating our ability to deliver on all key adjusted and non-adjusted metrics. Article content I'm also very pleased to commemorate that we delivered more than 1 million patient visits in Canada during the quarter for the first time ever reflecting 38% YoY growth; approximately a third of which came from organic growth. It's important to remember the significance of each of those visits and how vital it can be to a person's health and wellness. This awareness, along with our growing scale and relevance in the healthcare ecosystem, is top of mind for us. We think about it every day as we are committed to making the investments that are designed to help healthcare providers deliver the best care and patient outcomes possible. Article content One positive by-product of our investments is the growing productivity of our providers. The average provider at WELL grew its number of patient visits by 22%. While there are many contributors to this improvement, we believe improved tooling and technology to be one of those key reasons.' Article content Mr. Shahbazi further added, 'We are also very pleased to report our first quarter with the inclusion of HEALWELL AI, a company that we helped launch and incubate almost two years ago and in which we took a majority voting control position this past April. Yesterday HEALWELL reported record financial performance along with its first profitable quarter on an Adjusted EBITDA basis and signalled its intent to become a pure-play SaaS and Services company now that it has achieved significant scale in delivering data science and healthcare software expertise to large enterprise customers in 11 countries globally. In parallel, we continue to evaluate strategic alternatives for our U.S. assets to simplify our business and sharpen our focus on our core Canadian operations. Across the WELL ecosystem, our teams are focused on driving sustainable, profitable growth and delivering meaningful impact through technology, innovation, and operational excellence.' Article content Eva Fong, WELL's Chief Financial Officer, commented, 'Our second quarter results demonstrate the strength of our operating model and disciplined approach to capital allocation. Year to date, we have completed fourteen transactions and are pleased to report fifteen signed LOIs representing approximately $134 million in revenues. Our high-quality pipeline of acquisition opportunities mostly includes targets across Canadian Clinics and WELLSTAR. Also, notably our WELLSTAR platform delivered another strong 'Rule of 40' performance with strong organic revenue growth and healthy Adjusted EBITDA margins, while executing on its M&A pipeline. WELLSTAR's goal is to exceed $100 million in revenues next year with continued strong margins and growth metrics. Overall, we remain committed to improving margin profile and operating leverage across the organization, while evaluating strategic opportunities to streamline and optimize our portfolio. With a strong balance sheet and increasing cash generation, we are well-positioned to support long-term growth and return value to shareholders.' Article content WELL achieved record quarterly revenue of $356.7 million in Q2-2025, an increase of 57% compared to revenue of $227.3 million generated in Q2-2024. This growth was mainly driven by organic growth, acquisitions that have occurred over the last twelve months and the addition of $40.5 million of revenue in Q2-2025 from the inclusion of HEALWELL, as per IFRS reporting requirements following the company's execution of a call option to acquire voting shares of HEALWELL on April 1, 2025, relating to our majority voting position with HEALWELL. Excluding the impact of 'CM Deferrals', revenue would have reached $347.0 million, representing a 53% increase compared to the previous year. Adjusted Gross Profit (1) was $158.7 million in Q2-2025, an increase of 73% compared to Adjusted Gross Profit of $91.5 million in Q2-2024. Adjusted Gross Margin (1) percentage was 44.5% during Q2-2025 compared to Adjusted Gross Margin percentage of 40.3% in Q2-2024. The increase in Adjusted Gross Margin percentage was primarily driven by revenue mix and the addition of higher margin HEALWELL revenue, while being offset by the addition of lower margin Provider Staffing revenue from the acquisition of Harmony in January 2025. Adjusted EBITDA (1) was $49.7 million in Q2-2025, an increase of 231% compared to Adjusted EBITDA of $15.0 million in Q2-2024. Excluding the impact of CM Deferrals, Adjusted EBITDA would have reached $40.0 million, representing a 166% increase compared to the previous year. Adjusted EBITDA Attributable to WELL shareholders was $37.5 million in Q2-2025, an increase of 215% compared to Adjusted EBITDA Attributable to WELL shareholders of $11.9 million in Q2-2024. Adjusted Net Income (1) was $25.8 million, or $0.10 per share in Q2-2025, compared to Adjusted Net Income of $4.1 million, or $0.02 per share in Q2-2024. Free Cash Flow Available to Shareholders (or FCFA2S) was $11.7 million in Q2-2025 an increase of 34% compared to FCFA2S of $8.7 million in Q2-2024. Note that FCFA2S was impacted by elevated cash taxes and capital expenditures which were focused on investments in upgrading our clinical portfolio. : Article content Canadian Patient Services revenue was $114.5 million in Q2-2025, an increase of 49% compared to $76.7 million in Q2-2024. U.S. Patient Services revenue was $184.8 million in Q2-2025, an increase of 38% compared to $133.7 million in Q2-2024. WELLSTAR, the Company's pure-play SaaS technology subsidiary, achieved revenue of $15.2 million in Q2-2025, an increase of 49% compared to $10.2 million in Q2-2024. WELLSTAR's growth was driven by healthy organic growth and acquisitions. Article content Second Quarter 2025 Patient Visit Metrics: Article content WELL achieved a total of 1.7 million patient visits in Q2-2025, an increase of 21% compared to 1.4 million patient visits in Q2-2024. Canadian Patient Services visits increased 38% while US Patient Services visits decreased 1%, on a year-over-year basis. Notably, the Company achieved over 1 million patient visits across its Canadian operations, a new quarterly milestone. Growth in patient visits over the past year was primarily driven by acquisitions as well as double-digit organic growth, including the clinic absorption program. Article content In addition, WELL achieved over 2.7 million Care Interactions (2) in Q2-2025, representing approximately 10.8 million patient interactions on an annualized run-rate basis. Article content Second Quarter 2025 Business Highlights: Article content On April 1, 2025, the Company and the pre-HEALWELL founders amended the terms of the conditional call option held by the Company to acquire up to 30.8 million Class A Subordinate Voting Shares of HEALWELL at $0.125 per share and 30.8 million Class B Multiple Voting shares of HEALWELL at $0.0001 per share such that it became exercisable, and the Company exercised the call option to acquire such shares for total consideration of $3.9 million. On April 1, 2025, the release conditions were satisfied related to the Company's January 21, 2025, subscription for HEALWELL shares and the Company received 0.5 million Class A voting shares and 0.25 million share purchase warrants with each warrant exercisable into one Class A Subordinate Voting share at $2.50 per share for a period of 36 months in accordance with the terms of the subscription agreement. Article content As of April 1, 2025, the Company held 97.2 million Class A Subordinate Shares and 30.8 million Class B Multiple Voting shares of HEALWELL, representing approximately 37% of the economic interest and approximately 69% of the voting rights in HEALWELL on a non-diluted basis. As a result, the Company obtained control of HEALWELL under IFRS, and accordingly, began to consolidate the financial results of HEALWELL as a subsidiary of the Company effective April 1, 2025. Article content On May 6, 2025, the Company announced the rebranding of its cybersecurity division as CYBERWELL and the appointment of Jeffrey Engle as CEO. CYBERWELL consolidates four firms: Source44, SeekIntoo, Cycura, and Proack Security into a unified cybersecurity company. The division will focus on recurring revenue, acquisitions, and international expansion. WELL noted plans for CYBERWELL to potentially be spun out in the future and serve as a key growth engine. Article content On May 7, 2025, WELLSTAR announced the launch of Nexus AI, a new AI-powered clinical documentation solution available across Canada. The product is initially focused on AI scribing and will expand through partnerships across the WELL ecosystem. Nexus AI is supported by government funding for up to 10,000 providers through Canada Health Infoway's AI Scribe pilot program. Article content On May 28, 2025, the Company announced that subsidiaries of HEALWELL and WELLSTAR, Intrahealth, Pentavere, and OceanMD, were selected as recipients of Canada Health Infoway's 2025 Vendor Innovation Program. The program supports the development and implementation of real-world interoperability solutions aligned with national digital health priorities. The selected projects aim to enhance data quality, care coordination, and access to standardized health information across Canada, with deployments planned in five provinces. Three of the eight recipients are affiliated with the WELL and HEALWELL group. Article content On June 24, 2025, the Company announced the availability of over 45,000 new primary care patient openings across its clinic network in Ontario, Alberta, and Manitoba. The expansion is enabled by investments in physician recruitment, including the onboarding of internationally trained medical graduates, and the implementation of digital infrastructure powered by WELLSTAR Technologies. The Company's National Patient Registration system, supported by OceanMD's eForms, online booking, and automated triage tools, is streamlining access and enabling clinics to accelerate the creation of new patient panels. Article content Events Subsequent to June 30, 2025: Article content On July 8, 2025, the Company announced the completion of two clinic acquisitions in British Columbia, effective July 1, 2025. The acquired clinics include a personalized health clinic in Vancouver and a multidisciplinary clinic in Burnaby, expanding the Company's presence in preventative health and specialty care. Article content On July 8, 2025, the Company announced an expansion and extension of its senior secured credit facility, led by Royal Bank of Canada, increasing total capacity to approximately $200 million and extending the maturity to 2027. The revised facility converts the accordion feature into a revolving credit line, enhancing the Company's financial flexibility to support continued growth. Article content On July 15, 2025, the Company announced that its majority-owned subsidiary, WELLSTAR Technologies Corp., executed three letters of intent for acquisitions expected to contribute approximately $15 million in ARR, $16 million in annual revenue, and over $5 million in Adjusted EBITDA on a run-rate basis. The targets deliver high-margin SaaS solutions that expand WELLSTAR's clinician enablement platform and support its strategy of disciplined, accretive growth. Article content On July 16, 2025 HEALWELL acquired the remaining 49% of Pentavere Research Group Inc. ('Pentavere'), by exercising a call option that it had previously negotiated at the time of its original acquisition of a majority interest in Pentavere in 2023. Pursuant to the call option, HEALWELL acquired all of the remaining issued and outstanding shares of Pentavere for an aggregate purchase price of $13,978 which was satisfied with the issuance of 10,161,562 HEALWELL Class A Subordinate Voting Shares. With 100% ownership of Pentavere, HEALWELL intends to deepen integration between its AI businesses and accelerate commercialization of AI products across healthcare offerings. Article content Outlook: Article content WELL intends to continue its focus on maintaining strong performance, while strategically enhancing operations in the pursuit of organic growth and profitability. WELL is expecting its momentum to continue in the second half of the year across its key business units. WELL's objective is to invest in and achieve significant growth while effectively managing its costs and delivering cash flow to shareholders. Article content Management is pleased to reaffirm its 2025 annual guidance for revenue to be between $1.40 billion to $1.45 billion, representing 52% to 58% annual growth compared to 2024. Excluding the impact of the CM Deferrals, the Company's annual revenue guidance would be between $1.35 billion to $1.40 billion. This annual revenue guidance only includes announced acquisitions; however, WELL expects to be in the upper half of this guidance range with the inclusion of planned acquisitions in the second half of the year. Article content Furthermore, management is pleased to increase its guidance for annual Adjusted EBITDA to be in the upper half of its previously provided guidance of $190 million to $210 million. Excluding the impact of CM Deferrals, the Company is similarly improving its guidance for annual Adjusted EBITDA to be in the upper half of its previously provided guidance of $140 million to $160 million. This improvement of the Company's annual Adjusted EBITDA guidance only includes announced acquisitions. Article content WELL continues to allocate capital thoughtfully in order to activate both organic and inorganic growth. The Company expects to continue to fund its acquisitions from its own cash flow as well as planned divestitures ensuring compounding gains over time on a per share basis. The Company also continues to focus most of its M&A and capital allocation activity in Canada where it is experiencing its strongest returns. Article content Conference Call: Article content WELL will release its Second Quarter 2025 financial results for the period ended June 30, 2025, on Thursday, August 14, 2025. The Company will hold a conference call and simultaneous webcast to discuss its results on the same day at 1:00 pm ET (10:00 am PT). Article content Please use the following dial-in numbers: 1-800-717-1738 (Toll Free) or 1-289-514-5100 (International). Article content Please see SEDAR for complete copies of the Company's condensed interim consolidated financial statements and interim MD&A for the quarter ended June 30, 2025. Article content Quarter ended Six months ended June 30, 2025 March 31, 2025 June 30, 2024 Restated June 30, 2025 June 30, 2024 Restated $'000 $'000 $'000 $'000 $'000 Revenue 356,673 294,137 227,312 650,810 450,795 Cost of sales (excluding depreciation and amortization) (197,934) (176,665) (135,766) (374,599) (265,108) Adjusted Gross Profit (1) 158,739 117,472 91,546 276,211 185,687 Adjusted Gross Margin (1) 44.5% 39.9% 40.3% 42.4% 41.2% Adjusted EBITDA (1) 49,735 27,577 15,045 77,312 35,280 Net income (loss) 16,998 (41,886) 105,574 (24,888) 119,357 Adjusted Net Income (1) 25,771 7,508 4,080 33,279 21,287 Earnings (Loss) per share, basic (in $) 0.05 (0.19) 0.42 (0.14) 0.47 Earnings (Loss) per share, diluted (in $) 0.05 (0.19) 0.41 (0.14) 0.45 Adjusted Net Income per share, basic (in $) 0.10 0.03 0.02 0.13 0.09 Adjusted Net income per share, diluted (in $) 0.10 0.03 0.02 0.13 0.09 Reconciliation of net income (loss) to Adjusted EBITDA (1): Net income (loss) for the period 16,998 (41,886) 105,574 (24,888) 119,357 Depreciation and amortization 25,395 19,546 17,307 44,941 33,867 Income tax expense (recovery) 5,923 (1,229) (6,392) 4,694 (8,832) Interest income (463) (519) (279) (982) (517) Interest expense 12,909 11,406 9,689 24,315 19,230 Rent expense on finance leases (5,407) (4,688) (4,129) (10,095) (8,243) Share-based payments 5,815 2,465 4,765 8,280 10,242 Foreign exchange (gain) loss (1,032) 84 (72) (948) (104) Time-based earnout expense 5,137 215 15 5,352 2,127 Change in fair value of investments (12,751) 35,235 (116,327) 22,484 (130,284) Change in fair value of derivative liability (2,130) – – (2,130) – Gain on disposal of assets and investments – (24) – (24) (11,284) Share of net loss (income) of associates 117 2,380 (177) 2,497 887 Transaction, restructuring and integration costs expensed 2,797 3,870 2,609 6,667 6,091 Legal settlements and defense (recovery) costs (3,573) (31) 1,709 (3,604) 1,990 Other items – 753 753 753 753 Adjusted EBITDA (1) 49,735 27,577 15,045 77,312 35,280 Attributable to WELL shareholders 37,458 20,293 11,914 57,751 27,619 Attributable to Non-controlling interests 12,277 7,284 3,131 19,561 7,661 Adjusted EBITDA (1) WELL Corporate (8,544) (6,519) (5,320) (15,063) (10,087) Canada and others 25,151 18,671 13,032 43,822 27,506 US operations 33,128 15,425 7,333 48,553 17,861 Adjusted EBITDA (1) attributable to WELL shareholders WELL Corporate (8,544) (6,519) (5,320) (15,063) (10,087) Canada and others 22,777 17,209 12,645 39,986 26,892 US operations 23,225 9,603 4,589 32,828 10,814 Adjusted EBITDA (1) attributable to Non-controlling interests Canada and others 2,374 1,462 387 3,836 614 US operations 9,903 5,822 2,744 15,725 7,047 Reconciliation of net income (loss) to Adjusted Net Income (1): Net income (loss) for the period 16,998 (41,886) 105,574 (24,888) 119,357 Amortization of acquired intangible assets 17,432 13,034 11,361 30,466 22,881 Time-based earnout expense 5,137 215 15 5,352 2,127 Share-based payments 5,815 2,465 4,765 8,280 10,242 Change in fair value of investments (12,751) 35,235 (116,327) 22,484 (130,284) Change in fair value of derivative liability (2,130) – – (2,130) – Share of net loss (income) of associates 117 2,380 (177) 2,497 887 Other items – 753 753 753 753 Non-controlling interest included in net income (loss) (4,847) (4,688) (1,884) (9,535) (4,676) Adjusted Net Income (1) 25,771 7,508 4,080 33,279 21,287 Article content Footnotes: Article content Non-GAAP financial measures and ratios. In addition to results reported in accordance with IFRS, the Company uses certain non-GAAP financial measures as supplemental indicators of its financial and operating performance. These non-GAAP financial measures include Adjusted Net Income, Adjusted Net Income Per Share, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted Free Cash Flow. The Company believes these supplementary financial measures reflect the Company's ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business. Adjusted Net Income and Adjusted Net Income per Share The Company defines Adjusted Net Income as net income (loss), after excluding the effects of share-based payments, amortization of acquired intangible assets, time-based earnout expense, change in fair value of investments, change in fair value of derivative liability, non-controlling interests, and revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships. Adjusted Net Income Per Share is Adjusted Net Income divided by weighted average number of shares outstanding. The Company believes that these non-GAAP financial measures provide useful information to analyze our results, enhance a reader's understanding of past financial performance and allow for greater understanding with respect to key metrics used by management in decision making. More specifically, the Company believes Adjusted Net Income is a financial metric that tracks the earning power of the business that is available to WELL shareholders. EBITDA and Adjusted EBITDA EBITDA and Adjusted EBITDA are non-GAAP measures. EBITDA represents net income (loss) before interest, taxes, depreciation, and amortization. The Company defines Adjusted EBITDA as EBITDA (i) less net rent expense on premise leases considered to be finance leases under IFRS and (ii) before transaction, restructuring, and integration costs, time-based earn-out expense, change in fair value of investments, change in fair value of derivative liability, share of loss of associates, foreign exchange gain/loss, and share-based payments, (iii) revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships, and (iv) gains/losses that are not reflective of ongoing operating performance. The Company considers Adjusted EBITDA a financial metric that measures cash that the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. EBITDA and Adjusted EBITDA should not be considered alternatives to net income (loss), cash flow from operating activities or other measures of financial performance in accordance with IFRS. Adjusted Gross Profit and Adjusted Gross Margin The Company defines Adjusted Gross Profit as revenue less cost of sales (excluding depreciation and amortization) and Adjusted Gross Margin as adjusted gross profit as a percentage of revenue. Adjusted gross profit and adjusted gross margin should not be construed as an alternative for revenue or net income (loss) determined in accordance with IFRS. The Company does not present gross profit in its consolidated financial statements as it is a non-GAAP financial measure. The Company believes that adjusted gross profit and adjusted gross margin are meaningful metrics that are often used by readers to measure the Company's efficiency of selling its products and services. Adjusted Free Cash Flow The Company defines Adjusted Free Cash Flow Attributable to Shareholders as Adjusted EBITDA Attributable to Shareholders, less cash interest, less cash taxes and less capital expenditures. Adjusted Net income, Adjusted Net Income per Share, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted Free Cash Flow are not recognized measures for financial statement presentation under IFRS and do not have standardized meanings. As such, these measures may not be comparable to similar measures presented by other companies and should be considered as supplements to, and not as substitutes for, or superior to, the corresponding measures calculated in accordance with IFRS. Total Care Interactions are defined as Total Patient Visits plus Technology Interactions plus Billed Provider Hours. Article content Chief Executive Officer, Chairman and Director Article content Article content About WELL Health Technologies Corp. Article content WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 34,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 165 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol 'WELL' and on the OTC Exchange under the symbol 'WHTCF'. To learn more about WELL, please visit: Article content Forward-Looking Statements Article content This news release may contain 'Forward-Looking Information' within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Company's goals, strategies and growth plans, including expected acquisitions and divestitures Company and HEALWELL; expectations regarding continued revenue and EBITDA growth; the Company's expectations pertaining to annual guidance for annual revenue and Adjusted EBITDA; the expected benefits and synergies of completed acquisitions; capital allocation plans in the form of more acquisitions or share repurchases; expected patient visits; and the expected financial performance as well as information in the 'Outlook' section herein. Forward-Looking Information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as 'may', 'should', 'will', 'could', 'intend', 'estimate', 'plan', 'anticipate', 'expect', 'believe' or 'continue', or the negative thereof or similar variations. Forward-Looking Information involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information are not guarantees of future performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including: risks regarding the timing and amount of recognition or revenue and earnings; direct and indirect material adverse effects from adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at including its most recent Annual Information Form and its Management, Discussion and Analysis. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise. Article content This news release contains future-oriented financial information and financial outlook information (collectively, 'FOFI') about estimated annual run-rate revenue and Adjusted EBITDA, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of WELL may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL's anticipated future business operations on an annual basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein. Article content Article content Article content Article content Article content Contacts Article content For further information: Article content Article content Tyler Baba Article content Article content Article content
Globe and Mail
11 hours ago
- Globe and Mail
Orthopedic Devices Market Poised for 4.78% CAGR Growth Through 2030: FDA Approvals, Breakthrough Device Designation and AI-Enabled Devices Reshape the Market
DelveInsight projects the orthopedic devices market to grow from USD 44.09B in 2023 to USD 57.79B by 2030 at a 4.78% CAGR, driven by rising musculoskeletal disorders and innovation. Key players include Stryker, Zimmer Biomet, Johnson & Johnson, Medtronic, Maxx Orthopedics, Hyalex Orthopaedics, and OrthoPreserve. FDA approvals, AI-enabled devices, and breakthrough technologies like OSCAR PRO, AccelStim, and UNID systems propel market expansion. DelveInsight's ' Orthopedic Devices - Global Market Insights, Competitive Landscape, and Market Forecast - 2030 ' report delivers a comprehensive analysis of the Orthopedic Devices market globally. Key Takeaways Market size projection: As per DelveInsight's analysis, the total market size of Orthopedic Devices globally is expected to surge from USD 44.09 billion in 2023 to USD 57.79 billion by 2030. Patient population data: The report provides the total musculoskeletal disease potential pool, highlighting that 1.71 billion people suffer from conditions such as osteoarthritis, osteoporosis, and rheumatoid arthritis globally, with 528 million osteoarthritis and 18 million rheumatoid arthritis cases in 2019, plus ~300K people living with spinal cord injuries. Key orthopedic device companies: Leading orthopedic device companies, such as Stryker Corporation, Zimmer Biomet, Johnson & Johnson, and Medtronic PLC Pipeline assets: Some of the key orthopedic device innovations in the pipeline include the OSCAR PRO ultrasonic arthroplasty revision system, AccelStim Bone Growth Stimulator, AxSOS Ankle Fusion System, Insignia Hip stem, and AI-enabled UNID spinal fusion devices. In August 2025, the FDA approved the SetPoint System, a neuroimmune modulation device for treating adults with moderately to severely active rheumatoid arthritis. In June 2025, Maxx Orthopedics received FDA 510(k) clearance for their Freedom® Total Knee System Titanium Tibial Base Plate. This approval introduces a new material option, transitioning from CoCrMo to Wrought Titanium-6Aluminium-4Vanadium ELI Alloy (Ti6Al4V ELI) for the tibial base plate component. In May 2025, Hyalex Orthopaedics secured FDA approval of its supplemental Investigational Device Exemption (IDE) application for the Freestyle Knee Implant. In March 2025, Johnson & Johnson MedTech showcased major advances at the American Academy of Orthopaedic Surgeons (AAOS) 2025 Annual Meeting. Building on their momentum from the previous year's 18 FDA 510(k) clearances and 45 global product launches, the company introduced cutting-edge implants, advanced techniques, and data-driven technologies across joint reconstruction, trauma, extremities, and spine specialties. January 2025: OrthoPreserve received Breakthrough Device Designation and enrolled in the FDA TAP program for its Defender meniscus replacement implant. Discover recent advancements in the Orthopedic Devices landscape @ Orthopedic Devices Recent Developments. Orthopedic Devices Market Dynamics The global orthopedic devices market reached USD 44.09 billion in 2023 and is expanding at a compound annual growth rate (CAGR) of 4.78%, projected to attain USD 57.79 billion by 2030. This growth reflects both demographic pressures, an aging population with 54.1 million U.S. residents aged 65 or older as of 2019, and the rising incidence of bone and joint disorders. Musculoskeletal conditions are the leading contributors to disability worldwide, driving substantial demand for implants, supports, and related devices. Orthopedic devices market drivers include the increasing prevalence of osteoarthritis (528 million cases) and osteoporosis, occupational and non-occupational injuries, and technological innovation in implant materials and design. Innovations such as biocompatible titanium constructs and AI-integrated hardware are elevating clinical outcomes and reducing complication rates. For instance, ultrasonic arthroplasty tools like OSCAR PRO facilitate minimally invasive revisions, while AccelStim enhances fracture healing through targeted bone stimulation. The advances in biomechanics, materials science, and regenerative engineering underpin device performance. Titanium interbody cages, porous polymer composites, and smart sensors are enabling load-sharing implants with real-time monitoring. Mechanistically, bone growth stimulators exploit electromagnetic or ultrasonic energy to upregulate osteoblast activity and accelerate fusion. The orthopedic devices innovation and development is robust, with numerous devices in various trial phases. OrthoPreserve's Defender meniscus replacement is in breakthrough designation pathways, and Medtronic's UNID system illustrates the integration of AI in device-guided spinal fusion. Concurrently, Stryker and Zimmer Biomet are conducting post-market surveillance studies to refine long-term safety profiles. The orthopedic devices competitive landscape features diversified strategies: major players invest in in-licensing and partnerships to expand portfolios, while mid-sized innovators focus on niche applications such as ankle and wrist arthrodesis. Strategic M&A activity is anticipated as companies seek to consolidate capabilities in biologics-enabled devices. The orthopedic devices market barriers include regulatory hurdles for novel biomaterials, reimbursement constraints, and potential competition from non-implant therapies (e.g., biologics, cell therapy). However, opportunities abound in emerging markets, tele-enabled surgery, and personalized implant design via 3D printing. The future outlook projects continued growth driven by demographic trends, rising healthcare expenditure, and sustained R&D investment in next-generation orthopedic solutions. Download the Orthopedic Devices Market report to understand which factors are driving the therapeutic market @ Orthopedic Devices Market Trends. Orthopedic Devices Potential Patient Pool Musculoskeletal disorders impact 1.71 billion individuals globally, with 528 million suffering from osteoarthritis and 18 million affected by rheumatoid arthritis as of 2019. Spinal cord injuries afflict approximately 296,000 patients worldwide, with 17,900 new cases annually. DelveInsight's epidemiology segmentation reveals that osteoarthritis accounts for the largest share of years lived with disability, followed by rheumatoid arthritis. The total orthopedic devices eligible patient pools encompass those requiring surgical implants or supportive orthoses, with treated cases driven by healthcare access and device availability. Geographic analysis indicates North America leads market adoption, followed by Europe and Asia-Pacific, where aging demographics and expanding surgical capacity fuel device uptake. Forecasting through 2030 anticipates rising incident cases and an expanding treated cohort as minimally invasive and outpatient surgical centers proliferate. Discover evolving trends in the Orthopedic Devices patient pool forecasts @ Orthopedic Devices Patient Pool Analysis. Key Orthopedic Devices Companies and Competitive Landscape The orthopedic devices sector is anchored by established players and dynamic innovators. Current treatment options range from prophylactic supports (braces, orthoses) to complex implants (total joint prostheses, spinal fusion systems). Stryker Corporation leads with its Insignia Hip stem and AxSOS Ankle Fusion System, leveraging titanium design and updated screw arrays to improve fusion rates. Zimmer Biomet's portfolio includes knee and shoulder implants, while Johnson & Johnson focuses on advanced soft-tissue fixation devices. Medtronic's UNID rods and screws incorporate AI algorithms to optimize spinal alignment intraoperatively. Orthopedic devices development activity features OrthoPreserve's Defender meniscus replacement entering pivotal trials under FDA Breakthrough Device designation and Orthofix's AccelStim in post-approval studies. Key partnerships include licensing agreements for biomaterial coatings and co-development of sensor-enabled implants. Market positioning emphasizes value-based outcomes, with companies forging payor contracts that reward reduced revision rates. Recent milestones encompass FDA clearances (AccelStim May 2022, UNID June 2021), AAOS product launches (Insignia March 2022), and strategic collaborations in 3D-printed implant manufacturing. Commercial arrangements involve joint ventures in emerging markets to enhance distribution networks. Collectively, these efforts define a competitive environment focused on enhancing patient outcomes, expanding indications, and driving long-term growth in the orthopedic devices landscape. Delve deeper into the major and specialised companies in the Orthopedic Devices market @ Orthopedic Devices Competitive Landscape. Conclusion The orthopedic devices market is poised for sustained expansion through 2030, driven by demographic imperatives, technological innovation, and a diversified competitive field. Strategic collaborations, regulatory breakthroughs, and evolving clinical practices will shape the future, ensuring that next-generation implants and support devices meet the growing global demand for improved musculoskeletal health. Table of Contents 1. Orthopedic Devices Market Report Introduction 2. Orthopedic Devices Market Executive Summary 3. Competitive Landscape 4. Regulatory Analysis 5. Orthopedic Devices Market Key Factors Analysis 6. Orthopedic Devices Market Porter's Five Forces Analysis 7. Orthopedic Devices Market Assessment 8. Orthopedic Devices Market Company and Product Profiles 9. KOL Views 10. Project Approach 11. About DelveInsight 12. Disclaimer & Contact Us About DelveInsight DelveInsight is a leading business consulting and market research company focused on the healthcare and life sciences sectors, providing comprehensive market intelligence, competitive landscape analysis, and strategic insights to support decision-making across the pharmaceutical industry. Media Contact Company Name: DelveInsight Business Research LLP Contact Person: Arpit Anand Email: Send Email Phone: +14699457679 Address: 304 S. Jones Blvd #2432 City: Las Vegas State: Nevada Country: United States Website:
