- Wisp surpasses one million patients, solidifying its status as
the largest and fastest-growing telehealth platform in the United States serving women's health needs
with a focus on sexual and reproductive health.
- July 2024 revenue run rate
exceeds USD$78 million, bringing
Wisp's annualized revenue to over CAD$100
million. Wisp achieved 30% year-over-year revenue growth
with less than $2 million in primary
capital, highlighting its efficient and scalable growth model.
- Wisp continues to innovate with the launch of over ten new
products, including expanded offerings in fertility, menopause, and
at-home testing while it prepares for additional significant
product launches later this year.
NEW
YORK and VANCOUVER,
BC, Aug. 21, 2024 /CNW/ - 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, Wisp, the leading
sexual and reproductive telehealth provider in the United States, has officially achieved two
important milestones. It has surpassed: 1- one million patients
served nationwide in the United
States and 2- Recorded more than $78M US or $100M
CAD in runrate revenue for the first time based on its July
results. This milestone firmly establishes Wisp as the largest and
fastest-growing telehealth platform for women, offering innovative
and first-to-market products throughout every stage of a woman's
health journey.
"Reaching well over one million patients and continuing our
revenue runrate to over $78M US with
profitability is a profound testament to Wisp's mission to redefine
women's health with a focus on sexual and reproductive healthcare,"
said Monica Cepak, CEO of Wisp.
"With 10% of our patient base residing in areas of the US where
there are significant impediments to access care, we are dedicated
to expanding access to essential healthcare services. As we look
ahead, we are eager to not only enhance our offerings in
diagnostics, fertility, and menopause care, but we are also gearing
up for some of our most ambitious product launches to date,
expected later this year."
In July 2024, Wisp surpassed
USD$6.5 in revenues marking a
significant milestone in its rapid ascent as a leader in women's
telehealth. This growth is fueled by increasing demand for Wisp's
innovative healthcare solutions, reflected in a 30% year-over-year
revenue increase and the ability to consistently generate positive
EBITDA with minimal capital investment.
In 2024, Wisp introduced over ten new products, including a
fertility vertical and the Wisp+ Membership Program, designed to
meet the growing needs of patients seeking treatments for
conditions such as yeast infections, bacterial vaginosis (BV),
herpes, and urinary tract infections (UTIs). Looking ahead, Wisp
plans to further expand its offerings in menopause care, UTI
treatment, and at-home testing options in addition to areas of
healthcare important to women. The company's commitment to
innovation is highlighted by its pioneering first-to-market launch
of DoxyPEP, a breakthrough 'morning after pill' for STIs and STDs,
underscoring Wisp's dedication to advancing women's healthcare.
Wisp's patient-centric approach allows individuals to access the
treatments they need with ease, discretion, and without the need
for insurance. Through private online consultations, patients can
receive both over-the-counter and prescription treatments via
same-day pharmacy pickup or free discreet delivery, making
equitable healthcare accessible to women across all 50 states. To
learn more about Wisp, please visit www.hellowisp.com.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies Corp.
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 37,000
healthcare providers between the US and Canada and power the largest owned and
operated healthcare ecosystem in Canada with more than 180 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: www.well.company.
About Wisp.
Wisp is a women's health company on a mission to make sexual and
reproductive healthcare more inclusive, cost-effective, and
accessible. Available in all 50 states, Wisp provides discreet
treatments online with a comprehensive selection of products and
telehealth services, including prescription medication, OTC
prevention, at-home testing and more. Wisp is a growing and
profitable company and is majority-owned by WELL. To learn more,
please visit hellowisp.com or follow @hellowisp on Facebook,
Instagram, TikTok and YouTube.
SOURCE WELL Health Technologies Corp.