News Summary

Well Health, a Vancouver-based digital healthcare company, announced record revenue and adjusted EBITDA figures for Q1 2025. The company reported a 32% year-over-year increase in revenue, reaching $294.1 million, and a 36% increase in adjusted EBITDA, amounting to $27.6 million. Despite a decrease in net income due to an unusual windfall from the previous year, Well Health highlighted the significant growth of its Canadian business, with a 29% rise in adjusted EBITDA year-over-year. The company also plans to begin recognizing revenue from its stake in Healwell AI in Q2, anticipating approximately $40 million per quarter throughout 2025. Healwell, which is based in Toronto, reported a revenue doubling to $14.1 million in Q1, largely through acquisitions and its AI business, although it faced a $14 million net loss and initiated cost-cutting measures. The acquisition of Orion Health is expected to add $100 million in annual revenue for Healwell.