WELL Health gains from expansion

Article Excerpt

WELL HEALTH TECHNOLOGIES, $4.99, is a buy. The company (Toronto symbol WELL; TSINetwork Rating: Speculative) (www.well.company; Shares o/s: 205.3 million; Market cap: $1.0 billion; No dividends paid) reports that in the quarter ended September 30, 2021, revenue jumped 710.8%, to a record $99.3 million from $12.2 million a year earlier. The big jump was mostly due to acquisitions earlier in 2021 of CRH Medical Corporation and MyHealth Partners Inc. Higher telehealth and virtual primary healthcare activity also contributed. WELL delivered 582,958 total patient visits in the latest quarter, up 139% from a year ago. The company lost $10.4 million, or $0.06 a share, in the quarter. That’s compared to a loss of $14.1 million, or $0.08 a share. However, without one-time gains, it lost money in the quarter. The losses were partly due to costs to expand operations and integrate acquisitions. Growth by acquisition adds risk, but WELL Health aims to cut that risk by buying complementary businesses, like MyHealth, that can be easily integrated with…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.