Latest news with #WHTCF
National Post
20-05-2025
- Business
- National Post
WELL Health Enters into Automatic Share Purchase Plan
Article content VANCOUVER, British Columbia — WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (' WELL ' or the ' Company '), a digital health company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, announced today that it has entered into an automatic share purchase plan (' ASPP ') with a broker in order to facilitate repurchases of the Company's common shares (' Common Shares ') under its previously announced normal course issuer bid (' NCIB '). Article content Article content WELL previously announced that it had received approval from the Toronto Stock Exchange (' TSX ') to, during the 12-month period commencing May 20, 2025 and terminating May 19, 2026, purchase up to 6,326,417 Common Shares, representing approximately 2.5% of the 253,056,708 Common Shares issued and outstanding as of May 7, 2025, by way of a NCIB on the TSX or through Canadian alternative trading systems or by such other means as may be permitted under applicable law. Article content During the effective period of WELL's ASPP, WELL's broker may purchase Common Shares at times when WELL would not be active in the market due to insider trading rules and its own internal trading blackout periods. Purchases will be made by WELL's broker based upon parameters set by WELL when it is not in possession of any undisclosed material information about itself and its securities, and in accordance with the terms of the ASPP. Outside of the effective period of the ASPP, Common Shares may continue to be purchased in accordance with WELL's discretion, subject to applicable law. The ASPP has been entered into in accordance with the requirements of applicable Canadian securities laws. 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 42,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 200 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 the Company, please visit: Article content Article content Article content Article content Contacts Article content Article content
Yahoo
16-04-2025
- Business
- Yahoo
WELL Health Technologies Corp (WHTCF) Q4 2024 Earnings Call Highlights: Record Revenue and ...
Annual Revenue: $919.7 million in 2024, a 19% increase compared to the prior year. Deferred Revenue: $56.6 million from Circle Medical and $24.5 million from CRH Medical due to revenue recognition delays. Adjusted EBITDA: $46.7 million in 2024, impacted by deferred revenue; would have been $127 million excluding impacts. Net Income: $29.1 million in 2024, a 75% increase from $16.6 million in 2023. Free Cash Flow: $49.3 million in 2024, a 16% increase from the prior year. Canadian Business Revenue Growth: 30% year-over-year growth, with 20% organic growth. Patient Visits: 5.7 million in 2024, a 32% year-over-year increase. Cash and Cash Equivalents: $131.7 million as of December 31, 2024. Debt: Approximately CAD292.4 million as of December 31, 2024. 2025 Revenue Guidance: Between $1.40 billion and $1.45 billion. 2025 Adjusted EBITDA Guidance: Between $190 million and $210 million. Warning! GuruFocus has detected 5 Warning Signs with PNC. Release Date: April 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. WELL Health Technologies Corp (WHTCF) achieved record annual revenue of $919.7 million in 2024, marking a 19% increase compared to the previous year. The company reported a net income of $29.1 million, representing a 75% year-over-year growth. WELL Health Technologies Corp (WHTCF) delivered 5.7 million patient visits in 2024, a 32% year-over-year increase, with strong organic growth of 30%. The Canadian business segment showed strong momentum with 30% year-over-year growth and 20% organic growth. WELL Health Technologies Corp (WHTCF) has a robust M&A pipeline with seven signed LOIs representing approximately $40 million in annualized revenue. Circle Medical faced regulatory scrutiny over billing practices, resulting in a revenue reduction of $56.6 million for fiscal 2024. CRH Medical experienced delayed billing and cash collections due to a cybersecurity attack on its billing partner, Change Healthcare, leading to a revenue deferral of CAD24.5 million. The company's adjusted EBITDA for 2024 was significantly impacted by revenue recognition delays, decreasing to $46.7 million from $113.4 million in 2023. Circle Medical's billing errors and subsequent revenue deferral have caused a temporary decline in growth, as the company focuses on compliance and transitioning to a new revenue cycle management vendor. The strategic review process for WISP did not yield satisfactory acquisition proposals, delaying the divestment of US digital assets. Q: Could you describe the service obligation under IFRS that Circle Medical didn't meet in order to qualify this revenue for recognition during 2024? A: Hamed Shahbazi, CEO: This is more of an administrative matter. We delivered the service and got paid, but in terms of compliance with the actual contract, we may not have met the IFRS requirement for recognizing revenue. We took a conservative step to defer this revenue. Q: Could you provide some color on how you estimated the settlement amounts related to the Circle Medical USAO investigation? A: Hamed Shahbazi, CEO: This was done with the help of advisors. It's a civil matter with a track record of how these things typically go. Specialized counsel provided advice, and auditors needed to feel comfortable that the settlements were reasonable. Q: Could you elaborate on the 70+ opportunities and the deal value of $300 million under the "buy Canadian" initiative? A: Hamed Shahbazi, CEO: The deal pipeline is conservatively estimated at $300 million to $500 million, involving technology implementations at the public sector level, mostly provincial. This does not include Orion, which already has significant installations in Canada. Q: Given the delayed revenue, have you made any changes to processes or operations at Circle Medical, and has it changed your thoughts on its growth potential? A: Hamed Shahbazi, CEO: We don't anticipate any long-term impact. In the short-term, growth may slow as we focus on compliance and transition to a new revenue cycle management vendor. This will position the company for the next phase of growth. Q: Can you dive deeper into the drivers and confidence in achieving the 2025 guidance? A: Hamed Shahbazi, CEO: Elevated organic growth and a deep M&A pipeline are key factors. We expect liquidity from US assets to help drive additional opportunities. We also see potential for larger deals alongside systematic pursuit of smaller opportunities. Q: Are there specific WELLSTAR products that scale better internationally? A: Hamed Shahbazi, CEO: OceanMD has tremendous international potential with its e-referral and e-order products. Orion's established relationships in countries like the UK, France, and Australia provide opportunities to resell our capabilities internationally. Q: Excluding HEALWELL contributions and Circle Medical deferrals, are margins expected to decrease from 2024 to 2025? A: Hamed Shahbazi, CEO: We're not expecting significant EBITDA from HEALWELL. As we grow organically and take on absorptions, there may be timing differences affecting profitability. Overall, margins should improve over time with higher margin revenues from WELLSTAR and HEALWELL. Q: What assumptions are behind the 2025 guidance range, and where do you see opportunities for outperformance? A: Hamed Shahbazi, CEO: The potential for outperformance comes from Canada, driven by capital allocation opportunities. As M&A is fulfilled, we could see performance at the top end or even exceeding the guidance range. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
