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.
WELL Health Technologies (CNW Group/WELL Health Technologies Corp.)
"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.