- WELL Health unveiled new data reflecting 72% organic increase
in mental health visits in its primary care business in
Canada in Fiscal Q3-2021 as
compared to pre-pandemic periods. WELL's data also demonstrated a
strong bias for virtual care with 68% of mental health visits
occurring via virtual care as compared to 44.5% for all
visits.
- WELL's growing portfolio of virtual tools and technology
enabled practitioners are working hard to meet the growing need as
public health officials forecast that by the year 2030, mental
health conditions will be the leading burden of disease
globally.
- WELL reinforces its commitment to invest in and advance the
digitization of mental healthcare in Canada and around the globe and makes a
minority investment in Hasu Behavioural Health, a virtual online
therapy clinic that provides secure online video, phone and text
therapy for individuals and their families struggling with mental
health issues such as anxiety, depression, stress, relationship
problems, trauma, as well as substance abuse.
VANCOUVER, BC, Oct. 21, 2021 /PRNewswire/ - WELL Health
Technologies Corp. (TSX: WELL) (the "Company" or
"WELL"), a company focused on positively impacting health
outcomes by leveraging technology to empower healthcare
practitioners and their patients globally, announced today that it
has compiled and unveiled data from its Canadian primary care
business that demonstrates significant growth in the demand for
mental health services.
WELL's clinical data reflected a 72% organic increase in
mental health visits in its primary care business in Canada in Fiscal Q3-2021 as compared to
pre-pandemic periods. WELL's data also demonstrated a strong
bias for virtual care with 68% of mental health visits occurring
via virtual care as compared to approximately 45% for all
visits. WELL's growing portfolio of virtual tools and
technology enabled practitioners are working hard to rapidly deploy
behavioural health care services to a geographically widespread and
increasingly isolated populace. Public health officials
forecast that by year 2030 mental health conditions will be the
leading burden of disease globally(1).
Founder and CEO of WELL, Hamed
Shahbazi comments, "We are very pleased to publish this
revealing data soon after World Mental Health Day. While our
clinical data suggests a significant rise in demand for mental
health services in Canada, we
believe part of the reason for the dramatic growth is also due to
the de-stigmatization of mental health care needs that have
occurred in recent times in addition to the availability of digital
tools that have served to break down barriers allowing care
providers and patients to connect with greater levels of ease and
security than before." He adds, "The adoption of virtual
mental health platforms will be a permanent and growing fixture of
the healthcare system, and offer an accessible, flexible, and
secure mental health care option for patients moving forward.
WELL's growing portfolio of digital investments including our
Adracare and Insig platforms are continuing to see elevated mental
health usage across the country as well as new mental health
related customer wins with enterprise customers."
WELL Ventures, a wholly-owned subsidiary of WELL, whose mandate
is to invest in exceptional leaders, entrepreneurs and businesses
supporting the global digital health ecosystem, with an emphasis on
advancing innovative digital health initiatives in Canada, announces it has invested in
Hasu Behavioural Health ("Hasu"), a virtual online therapy
clinic that provides secure online video, phone and text
therapy for individuals and their families struggling with mental
health issues such as anxiety, depression, stress, relationship
problems, trauma, as well as substance abuse. Hasu also
offers flexible solutions for organizations looking to support
their employees, members or patients with an easy-to-use and
anonymous way to access mental health and substance abuse
services. Hasu providers can grow their online practice
without the headache and cost of running a private practice on
their own, allowing them to focus on clinical work and patient
outcomes.
Marion Adams, CEO of Hasu
commented, "We chose WELL as our strategic partner to help unlock
the value of our services and extensive experience in the market.
Their commitment to mental health coupled with WELL's growing and
compelling arsenal of digital capabilities that support
practitioners impressed us." Marion continues, "We look
forward to working with WELL to help support the increasing demand
for virtual mental health therapy services across the country, for
both individuals and organizations alike".
WELL plans to enable Hasu as an authorized digital patient
services partner and promote Hasu's virtual therapy services within
its own expanding network and distribution
channels. The Company was also granted a call option
right from Hasu's existing shareholders to purchase the remaining
outstanding shares of Hasu which it does not already own.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed
Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies Corp.
WELL is a technology enabled healthcare company whose
overarching objective is to positively impact health outcomes to
empower and support healthcare practitioners and their patients.
WELL has built an innovative practitioner enablement
platform that includes comprehensive end to end practice management
tools inclusive of virtual care and digital patient engagement
capabilities as well as Electronic Medical Records (EMR), Revenue
Cycle Management (RCM) and data protection services. WELL uses this
platform to power healthcare practitioners both inside and outside
of WELL's own omni-channel patient services offerings. As such,
WELL owns and operates Canada's largest network of
outpatient medical clinics serving primary and specialized
healthcare services and is the provider of a leading
multi-national, multi-disciplinary telehealth offering. WELL
is publicly traded on the Toronto Stock Exchange under the symbol
"WELL" and is part of the TSX Composite Index. To learn
more about the Company, please visit: www.well.company.
About Hasu Behavioural Health
Hasu Behavioural Health is a Toronto based PHIPA and PIPEDA-compliant
healthcare platform and mobile app that provides secure online
video, talk and text counselling for individuals and their families
struggling with mental health issues such as depression and
anxiety, as well as abuse and dependency on alcohol or drugs. We
also provide an online private practice option to care providers,
minus the headache and cost of running a business, allowing
them to focus on clinical work and patient
outcomes. https://www.hasuecounselling.ca/
Forward-Looking Information
This news release may contain "Forward-Looking Information"
within the meaning of applicable Canadian securities laws,
including, without limitation: information regarding the expected
elevated demand for mental health services and WELL's future plans
with Hasu's platform. Forward-looking information is 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 statements 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 those forward-looking
statements and the forward-looking statements are not guarantees of
future performance. WELL's statements expressed or implied by these
forward-looking statements 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
statements. Forward-looking statements are qualified in their
entirety by inherent risks and uncertainties, including: direct and
indirect material adverse effects from the COVID-19 pandemic;
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 www.sedar.com, including its
most recent Annual Information Form. Except as required by
securities law, WELL does not assume any obligation to update or
revise any forward-looking statements, whether as a result of new
information, events or otherwise.
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SOURCE WELL Health Technologies Corp.