American Well

American Well — the supplier of telemedicine solutions in the USA. Uses possibilities of telemedicine for increase in availability of high-quality medical care. Partnership with the American health facilities, insurers, employers and retailers in combination with Exchange and Amwell services give the chance to millions of Americans to receive video consultations with doctors to which they trust.

Since 2006 American Well provides the round-the-clock access for patients to consultations of the certified medical specialists. Service can be used even while the attending physician is unavailable that reduces waiting time and improves possibilities of receiving remote medical care.

American Well services are applied by large employers in different medical institutions of the USA and, as of 2017, service more than 150 million Americans.

Performance Indicators

In 2019 American Well received revenue in the amount of $149 million that is 31% more, than the previous year when sales were measured by $114 million. At the same time net losses in comparison of the same intervals of time increased from $52 million up to $88 million.

History

2020: Entry into the exchange

On September 17, 2020 at the New York Stock Exchange American Well trading in shares began. At opening of the platform their rate made $25.51, during the day it reached $25.9, and at the time of closing — $23.07.

Within the IPO the telemedicine company, largest in the USA, sold 41.2 million shares of a class A at the price of $18 apiece, having earned $742 million. At the same time initially American Well expected to implement 35 million securities for $14-16, data of the U.S. Securities and Exchange Commission demonstrate.

Thus, in the first day in the status of the public company of the stock American Well rose in price for 42% against the IPO price. On following put the cost of papers about $23.02 fell.

The telemedicine company American Well, largest in the USA, went public NYSE

Telemedicine gained popularity during COVID-19 coronavirus pandemic. The American Well company estimates the potential market at $12.4 billion.

According to own data of American Well, by September, 2020 the company works in the USA with 55 plans of health insurance which support more than 36,000 employers and in total represent more than 80 million insured lives and also 150 largest health care systems of the country covering more than 2000 hospitals. Clients of American Well received more than 5.6 million telemedicine services, including more than 2.9 million for the first half of 2020 during which wide circulation of a coronavirus not only in the USA, but also worldwide was observed. Only in April, 2020 more than 40 thousand times a day against 2.9 thousand for the same period of the 2019th used services of American Well.^[1]

2018: Integration of American Well service into solutions of Philips

Royal Philips and American Well company in January, 2018 announced conclusion of an agreement about long-term strategic partnership. The cooperation purpose — to provide access to telemedicine services and to give the chance to people worldwide independently to watch over the health.

Within technology partnership of the company intend to integrate telemedicine services American Well in a row of solutions of Philips for all stages of a continuum of health — from maintaining a healthy lifestyle, prevention and early diagnostics before treatment and home care, including the platform of la of parents of Philips Avent uGrow and a cloud platform of Philips HealthSuite.

In recent years telemedicine acquired the status of one of the most perspective directions in development of the Russian health care. It confirms adoption of law on telemedicine, permitted remote consultations of doctors. Thanks to implementation of technologies and telemedicine services in Russia we will be able to increase quality of delivery of health care for people from the remote regions, and doctors will have an opportunity to exchange experience, without leaving jobs — Sergey Lavanov, the head of department of medical information science of Philips company emphasized. — Our company concluded partnership with American Well that patients could receive high-quality remote medical care round the clock worldwide.

At the first stage of partnership the American Well service will be integrated into the platform for parents of Philips Avent uGrow. She helps parents to monitor development of the child and establishes wireless communication with some other devices — for example, Philips Avent video nurse. The Philips uGrow platform will open access to smart set for feeding of Philips Avent which will be able automatically to control time, to consider the volume and duration of feeding. Thanks to Amazon Echo voice activation of the application will become possible. The updated mobile application of Philips uGrow was announced in the USA and in the nearest future will be available to downloading in App Store and Google Play.

It is expected that thanks to integration the Philips uGrow platform will allow parents to share data on the child with American Well and to receive the individual recommendations of the attending physician. Telemedicine service will provide safe video calls with the necessary specialist (the pediatrician, the therapist, the psychiatrist or the consultant for breastfeeding) in real time 24 hours a day 7 days a week. The payment for use of service will depend on type of medical care and duration of consultation.

Also the American Well service is going to be integrated into work of the cloud Philips HealthSuite digital platform. Thanks to HealthSuite consumers and patients have an opportunity to monitor the personal data collected using wearable devices and to select what information to transfer to doctors.

Also it is planned that in 2018 the telemedicine solution of Philips will be started in Russia together with the local partner of telemedicine services.