Connect with us

Technology

WELL Health Achieves $1 Billion Annualized Revenue Run-Rate Ahead of Plan with Best Ever Quarterly EBITDA and Free Cashflow Results for Q3-2024 and Raises Annual Revenue Guidance

Published

on

WELL surpassed $1 billion annualized revenue run-rate with record revenue of $251.7 million in Q3-2024, marking a 27%(1) increase compared to Q3-2023, mainly driven by organic growth of 23%.WELL achieved record Adjusted EBITDA(2) of $32.7 million in Q3-2024, an increase of 16% as compared to Q3-2023.WELL achieved a record total of 1.5 million total patient visits in Q3-2024 an increase of 41% compared to Q3-2023 and representing 5.9 million total patient visits on an annualized run-rate basis.WELL increases its 2024 annual guidance range for revenue of $985 million to $995 million, while maintaining Adjusted EBITDA guidance to be in the upper half of $125 million to $130 million.

VANCOUVER, BC, Nov. 7, 2024 /CNW/ – WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the “Company” or “WELL”), 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 its interim consolidated financial results for the quarter ended September 30, 2024.

Hamed Shahbazi, Founder and CEO of WELL, commented, “Third quarter of 2024 was one of the best quarters in the Company’s history by just about every objective and important metric. WELL delivered record quarterly performances for revenue, Adj EBITDA, free cashflow, patient visits and organic growth in the third quarter. We are also pleased to report that we surpassed $1 billion in annualized revenue run-rate, one quarter ahead of our previously stated plan. Record results were driven by our Canadian Patient Services business which delivered robust revenue growth of 35% YoY. Our current pipeline of acquisitions, which includes 17 signed LOIs and definitive agreements pending close, is the strongest we’ve had representing over $100 million in revenues with a heavy emphasis on our Canadian lines of business. As of the end of Q3-2024, WELL proudly supports a network of over 4,000 providers and clinicians delivering care through our physical and virtual clinics. We also continue to evolve and innovate our clinical offerings and are pleased to announce that this past week we launched a new weight care and GLP-1 offering in Canada on our Tia Health virtual care platform. This is just the beginning as we are excited about innovating and delivering superior patient outcomes for Canadians in this category. I am proud to raise our 2024 annual revenue guidance to $985 to $995 million, not including any un-announced acquisitions. As we close out 2024, our focus remains on enhancing profitability as we are projecting a healthy year-over-year increase in free cash flow to shareholders this year. We are a very healthy and growing Company and getting stronger as we are on track to deliver record revenue, Adjusted EBITDA, and Adjusted Net Income for 2024, while boosting cash flow, reducing debt, minimizing net share issuances to the lowest yearly rate ever, and reflecting significant reductions in earnout payments.”

Mr. Shahbazi further added, “Both of WELL’s US based virtual care platforms, Wisp and Circle Medical continue to outperform with Wisp experiencing 35% revenue growth in Q3-2024 versus Q3-2023 and recently successfully launching their weight care and GLP-1 offering in 20 states. Also, Circle Medical achieved 61% year-over-year quarterly revenue growth while maintaining profitability. The strategic review process, including potential sale of these two assets, is continuing, and making progress.”

Eva Fong, WELL’s Chief Financial Officer, added, “Earlier this year we implemented a comprehensive cost-cutting program to support our 2024 operating plan, which is contributing to our record Adjusted EBITDA results this quarter and on a YTD basis. In Q3-2024, we generated $16.2 million in Adjusted Free Cashflow(2) available to shareholders or 6.5 cents per share and our aim is to improve on this next year. Along with these savings and strong cash flows, we are on track to reduce annual share dilution to its lowest level this fiscal year, driven in part by shifting much of our earnout payment obligations to cash and transitioning some of our employee incentive programs to be more cash-based rather than relying on share-based compensation. Additionally, we plan to sustain our share buyback program as we haven’t issued any new shares since beginning this program and continue to favour cash vs shares, as our Board of Directors believes the current share price does not fully reflect the underlying value of the Company. I am pleased to report that WELL is in a strong financial position and is able to continue funding organic growth and future acquisitions through cash flows from operations.”

Third Quarter 2024 Financial Highlights:

WELL achieved record quarterly revenue of $251.7 million in Q3-2024, an increase of 23% as compared to revenue of $204.5 million generated in Q3-2023 (or 27%(1) with reference to continuing operations). This growth was primarily driven by organic growth of 23%. Growth from acquisitions of 4% was offset by the impact from divestitures.Canadian Patient Services revenue was $78.0 million in Q3-2024, an increase of 35% as compared to $57.8 million in Q3-2023.U.S. Patient Services revenue was $158.2 million in Q3-2024, an increase of 21% as compared to $130.7 million in Q3-2023.SaaS and Technology Services revenue from continuing businesses was $15.6 million in Q3-2024, an increase of 19% as compared to $13.1 million in Q3-2023.Adjusted Gross Profit(2) was $112.3 million in Q3-2024, an increase of 19% as compared to Adjusted Gross Profit(2) of $94.2 million in Q3-2023.Adjusted Gross Margin(2) percentage was 44.6% during Q3-2024 compared to Adjusted Gross Margin(2) percentage of 46.1% in Q3-2023. The decrease in Adjusted Gross Margin(2) percentage was primarily driven by the addition of recruiting revenue from the acquisition of CarePlus, which has lower margins compared to other Patient Services and SaaS and Technology Services revenue.Adjusted EBITDA(2) was $32.7 million in Q3-2024, an increase of 16% as compared to Adjusted EBITDA(2) of $28.2 million in Q3-2023.Adjusted EBITDA to WELL shareholders(2) was $25.1 million in Q3-2024, an increase of 10% as compared to Adjusted EBITDA to WELL shareholders(2) of $22.9 million in Q3-2023.Adjusted Net Income(2) was $13.0 million, or $0.05 per share in Q3-2024, as compared to Adjusted Net Income(2) of $12.9 million, or $0.05 per share in Q3-2023.

Third Quarter 2024 Patient Visit Metrics:

WELL achieved a record 1.5 million total patient visits in Q3-2024, an increase of 41% compared to Q3-2023 and representing 5.9 million total patient visits on an annualized run-rate basis. Total patient visits were comprised of 798,000 patient visits in Canada and 682,000 patient visits in the US. Canadian patient visits increased 46% while US patient visits increased 35%, on a year-over-year basis. Growth in total patient visits over the past year was primary driven by organic growth, including the clinic absorption program as well as acquisitions.

Total Care Interactions were 2.2 million in Q3-2024, a year-over-year increase of 41% compared to Q3-2023 and representing 9.0 million Total Care Interactions on an annualized run-rate basis.  

Q3-24

Q2-24

Q3-23

Q/Q
Growth

Y/Y
Growth

Y/Y Organic
Growth

Canada Patient Visits

798,000

766,000

548,000

4 %

46 %

26 %

US Patient Visits

682,000

640,000

505,000

7 %

35 %

35 %

Total Visits

1,480,000

1,406,000

1,053,000

5 %

41 %

31 %

Technology Interactions

675,000

622,000

458,000

9 %

47 %

47 %

Billed Provider Hours

88,000

84,000

81,000

5 %

10 %

10 %

Total Care Interactions(3)

2,243,000

2,112,000

1,591,000

6 %

41 %

35 %

Third Quarter 2024 Business Highlights:

On July 10, 2024, the Company announced the approval of a historic $44 million project, Health Compass II, the largest DIGITAL project ever awarded to advance AI-powered tech enablement for care providers. This initiative, led by WELL and its consortium partners, aims to enhance AI and interoperability in Canadian healthcare. As the lead commercialization partner and first customer, WELL will provide expertise and interoperability, enabling the development of new AI tools to support healthcare providers and improve patient outcomes.

On July 17, 2024, the Company announced the launch of its AI-powered co-pilot for cardiologists, powered by HEALWELL AI, to improve the detection of cardiovascular disease (CVD). This co-pilot, an extension of the WELL AI Decision Support (WAIDS) product offering, will be deployed in WELL Diagnostic Centers, Canada’s largest cardiology and medical diagnostic group, across over 40 locations in Ontario. This initiative aims to assist cardiologists in identifying high-risk patients, enhancing early detection and management of CVD.

On August 13, 2024, the Company announced that its majority-owned subsidiary, Circle Medical, surpassed a $100 million USD revenue run rate, reporting $8.87 million in revenue for July 2024, reflecting 65% year-over-year growth. Circle Medical has been profitable on an Adjusted EBITDA basis for over 2.5 years and maintains a gross margin of approximately 55%.

On August 21, 2024, the Company announced that its majority-owned subsidiary, Wisp, surpassed one million patients served and achieved a revenue run rate of over CAD$100 million, based on July 2024 results. Wisp recorded USD$6.5 million in revenue for July, reflecting 30% year-over-year growth. Wisp also launched over ten new products in 2024, expanding its offerings in fertility, menopause, and at-home testing, while preparing for additional product launches.

On September 10, 2024, the Company announced the acquisition of three primary care clinics in British Columbia and definitive agreements to acquire four diagnostic imaging clinics in Alberta. WELL also reported a Pre-Tax Unlevered ROIC of 14% for its Canadian clinics business. The Company’s acquisition pipeline includes 5 signed LOIs representing $11.8 million in revenue.

Events Subsequent to September 30, 2024:

On October 17, 2024, the Company announced the launch of a comprehensive weight care vertical by its majority-owned subsidiary, Wisp. This new service provides personalized online consultations and access to four weight care solutions, including GLP-1 medications, to support women with hormonal imbalances such as perimenopause, menopause, PCOS, and endometriosis. Wisp also introduced its first over-the-counter weight-loss supplement designed to promote women’s metabolic health, further expanding its menopause care offerings. Wisp now serves over 1.2 million patients as it continues to enhance its women’s healthcare services.

On November 4, 2024, the Company announced the acquisition of Canadian clinical assets from Jack Nathan Medical Corp. including a network of 16 owned and operated clinics, which generated revenue of over $10 million in the past 12 months. The portfolio of owned and operated clinics is expected to operate profitably on an adjusted EBITDA basis in 2025, following immediate synergies with WELL’s shared services program and application of WELL’s clinic transformation program. WELL will also acquire 62 licensee clinics that generate approximately $2.2 million annually in high margin revenue and will become the model for WELL’s new ‘Affiliate Clinic’ business stream. On closing, WELL will acquire Jack Nathan’s rights to operate medical clinics in Walmart Canada stores, creating a platform to expand its network within Walmart Canada’s footprint of over 400 Canadian locations.

Outlook: 

WELL anticipates maintaining its strong performance through the remainder of 2024, with a strategic focus on enhancing operations for organic growth and profitability. The company continues to pursue capital-efficient growth opportunities while effectively managing costs to deliver robust growth and sustained cash flow to shareholders. Management is pleased to update its guidance, which includes only announced acquisitions:

Annual revenue for 2024 is projected to be in the range of $985 million to $995 million.Adjusted EBITDA(2) for 2024 is projected to be in the upper half of $125 million to $130 million.Adjusted Free Cashflow(2) available to shareholders is expected to be approximately $55 million, before the potential impact of increases in capital expenditures in Q4 and timing of tax payments. Management believes these capital expenditures to be a prudent use of cash given WELL’s strong cash flow generation.

WELL plans to advance its U.S. and Canadian Patient Services businesses through both organic and strategic growth, prioritizing capital efficiency. This approach will enable the company to optimize per share financial performance. In Canada, WELL aims to strengthen its market leadership as the nation’s premier pan-Canadian clinical network, offering a highly integrated, tech-enabled outpatient healthcare system. WELL is also committed to growing its WELL Provider Solutions or WPS business both organically and inorganically and demonstrating clear leadership in the Canadian healthcare IT landscape.

Leveraging its deep technological expertise and strategic relationship with HEALWELL AI, WELL is prioritizing investments in AI technologies, with plans to continue to develop and launch innovative products and enhancements across its provider and clinic network.

To boost operational efficiency and profitability, earlier this year WELL has implemented a cost optimization program, including staff restructuring and other cost-saving measures. The company’s strong organic growth and healthy cash flow position it well to continue executing its growth strategies while progressively reducing debt.

Conference Call:

WELL will hold a conference call to discuss its 2024 Third Quarter financial results on Thursday, November 7, 2024, at 1:00 pm ET (10:00 am PT). Please use the following dial-in numbers: 416-764-8650 (Toronto local), 778-383-7413 (Vancouver local), 1-888-664-6383 (Toll-Free) or +1-416-764-8650 (International).

The conference call will also be simultaneously webcast and can be accessed at the following audience URL: https://well.company/events.

Selected Unaudited Financial Highlights:

Please see SEDAR for complete copies of the Company’s condensed interim consolidated financial statements and interim MD&A for the quarter ended September 30, 2024.

Quarter ended

Nine months ended

September 30,
 2024

June 30,
2024

September
30,
 2023

September
30,
 2024

September
30,
 2023

$’000

$’000

$’000

$’000

$’000

Revenue

251,739

243,147

204,461

726,448

544,808

Cost of sales (excluding depreciation and amortization)

(139,487)

(135,766)

(110,225)

(404,595)

(273,580)

Adjusted Gross Profit(2)

112,252

107,381

94,236

321,853

271,228

Adjusted Gross Margin(2)

44.6 %

44.2 %

46.1 %

44.3 %

49.8 %

Adjusted EBITDA(2)

32,738

30,880

28,172

91,932

82,644

Net income (loss)

(75,752)

116,976

(4,482)

60,824

(17,125)

Adjusted Net Income (2)

12,996

12,107

12,862

46,406

41,536

Earnings (loss) per share, basic (in $)

(0.33)

0.45

(0.03)

0.19

(0.12)

Earnings (loss) per share, diluted (in $)

(0.33)

0.43

(0.03)

0.19

(0.12)

Adjusted Net Income per share, basic (in $) (2)

0.05

0.05

0.05

0.19

0.18

Adjusted Net income per share, diluted (in $)(2)

0.05

0.05

0.05

0.18

0.18

Reconciliation of net income (loss) to Adjusted EBITDA(2):

Net income (loss) for the period

(75,752)

116,976

(4,482)

60,824

(17,125)

Depreciation and amortization

17,476

17,307

15,449

51,343

44,012

Income tax expense (recovery)

1,087

(1,959)

(25)

(1,050)

2,056

Interest income

(255)

(279)

(114)

(772)

(429)

Interest expense

9,103

9,689

8,966

28,333

24,568

Rent expense on finance leases

(4,675)

(4,129)

(2,672)

(12,918)

(7,743)

Stock-based compensation

2,141

4,765

7,043

12,383

19,776

Foreign exchange gain

62

(72)

(539)

(42)

(888)

Time-based earnout expense

1,829

15

1,589

3,956

13,919

Change in fair value of investments

77,092

(116,327)

(53,192)

Gain on disposal of assets and investments

(33)

(7)

(11,317)

(1,524)

Share of net (income) loss of associates

1,832

(177)

102

2,719

290

Other items

753

753

1,798

Transaction, restructuring and integration costs expensed

2,831

4,318

2,862

10,912

3,934

Adjusted EBITDA(2) 

32,738

30,880

28,172

91,932

82,644

  Attributable to WELL shareholders

25,104

23,019

22,912

69,494

65,831

  Attributable to Non-controlling interests

7,634

7,861

5,260

22,438

16,813

Adjusted EBITDA(2)

  WELL Corporate

(5,368)

(5,320)

(4,933)

(15,455)

(13,914)

  Canada and others

14,036

13,032

12,110

41,542

34,857

  US operations

24,070

23,168

20,995

65,845

61,701

Adjusted EBITDA(2) attributable to WELL shareholders

  WELL Corporate

(5,368)

(5,320)

(4,933)

(15,455)

(13,914)

  Canada and others

13,743

12,645

12,044

40,635

34,352

  US operations

16,729

15,694

15,801

44,314

45,393

Adjusted EBITDA(2) attributable to Non-controlling interests

  Canada and others

293

387

66

907

505

  US operations

7,341

7,474

5,194

21,531

16,308

Reconciliation of net income (loss) to Adjusted Net income(2):

  Net income (loss) for the period

(75,752)

116,976

(4,482)

60,824

(17,125)

  Amortization of acquired intangible assets

11,294

11,361

11,734

34,175

33,484

  Time-based earnout expense

1,829

15

1,589

3,956

13,919

  Stock-based compensation

2,141

4,765

7,043

12,383

19,776

  Change in fair value of investments

77,092

(116,327)

(53,192)

  Share of net (income) loss of associates

1,832

(177)

102

2,719

290

  Other items

753

753

1,798

  Non-controlling interest included in net income (loss)

(5,440)

(5,259)

(3,124)

(15,212)

(10,606)

Adjusted Net Income (2)

12,996

12,107

12,862

46,406

41,536

Footnotes:

Relates to revenue from continuing operations excluding the revenue impact from businesses divested in the prior periods.Non-GAAP Financial Measures

In addition to results reported in accordance with IFRS, the Company uses certain non-GAAP financial measures as supplemental indicators of its financial and operating performance. These non-GAAP financial measures include Adjusted Gross Profit, Adjusted Gross Margin, Adjusted EBITDA, Adjusted EBITDA attributable to WELL Shareholders/Non-controlling interests, Adjusted Net Income, and Adjusted Net Income Per Share (basic and diluted). The Company believes these supplementary financial measures reflect the Company’s ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business.

Adjusted Gross Profit and Adjusted Gross Margin
The Company defines Adjusted Gross Profit as revenue less cost of sales (excluding depreciation and amortization) and Adjusted Gross Margin as adjusted gross profit as a percentage of revenue. Adjusted gross profit and adjusted gross margin should not be construed as an alternative for revenue or net income (loss) determined in accordance with IFRS. The Company does not present gross profit in its consolidated financial statements as it is a non-GAAP financial measure. The Company believes that adjusted gross profit and adjusted gross margin are meaningful metrics that are often used by readers to measure the Company’s efficiency of selling its products and services.

Adjusted EBITDA
The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization less (i) net rent expense on premise leases considered to be finance leases under IFRS and before (ii) transaction, restructuring, and integration costs, time-based earn-out expense, change in fair value of investments, share of income (loss) of associates, foreign exchange gain/loss, and stock-based compensation expense, and (iii) gains/losses that are not reflective of ongoing operating performance. The Company considers Adjusted EBITDA to be a financial metric that measures cash flow that the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. Adjusted EBITDA should not be considered alternatives to net income (loss), cash flow from operating activities or other measures of financial performance defined under IFRS.

Adjusted EBITDA Attributable to WELL Shareholders/Non-Controlling Interests
The Company defines Adjusted EBITDA attributable to WELL Shareholders (or Shareholder EBITDA) and Adjusted EBITDA attributable to Non-controlling interests as the sum of the Adjusted EBITDA for each relevant legal entity multiplied by WELL’s or the non-controlling interests’ equity ownership, respectively.

Adjusted Net Income and Adjusted Net Income Per Share, Basic and Diluted
The Company defines Adjusted Net Income as net income (loss), after excluding the effects of stock-based compensation expense, amortization of acquired intangible assets, time-based earnout expense, change in fair value of investments, share of income (loss) of associates, and non-controlling interests. The Company revised its definition of Adjusted Net Income for the three and nine months ended September 30, 2024 to exclude share of income (loss) of associates. Comparative figures have been adjusted to conform to the current period definition. Adjusted Net Income Per Share is Adjusted Net Income divided by weighted average number of shares outstanding. The Company believes that these non-GAAP financial measures provide useful information to analyze our results, enhance a reader’s understanding of past financial performance and allow for greater understanding with respect to key metrics used by management in decision making. More specifically, the Company believes Adjusted Net Income is a financial metric that tracks the earning power of the business that is available to WELL shareholders.

Adjusted Free Cashflow
The Company defines Adjusted Free Cashflow as Adjusted EBITDA Attributable to Shareholders, less cash interest, less cash taxes and less capital expenditures.

Adjusted Gross Profit, Adjusted Gross Margin, Adjusted EBITDA, Adjusted EBITDA attributable to WELL Shareholders/Non-controlling interests, Adjusted Net Income, and Adjusted Net Income per Share (basic and diluted), and Adjusted Free Cashflow are not recognized measures for financial statement presentation under IFRS and do not have standardized meanings. As such, these measures may not be comparable to similar measures presented by other companies and should be considered as supplements to, and not as substitutes for, or superior to, the corresponding measures calculated in accordance with IFRS.

Total Care Interactions are defined as Total Patient Visits plus Technology Interactions plus Billed Provider Hours.

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 38,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with 185 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.  

Forward-Looking Statements

This news release may contain “Forward-Looking Information” within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Company’s goals, strategies and growth plans; expectations regarding continued revenue and EBITDA growth; the expected benefits and synergies of completed acquisitions; capital allocation plans in the form of more acquisitions or share repurchases; the expected financial performance as well as information in the “Outlook” section herein. Forward-Looking Information are 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 Information 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 the Forward-Looking Information and the Forward-Looking Information are not guarantees of future performance. WELL’s comments expressed or implied by such Forward-Looking Information 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 information. Forward-Looking Information 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 information, whether as a result of new information, events or otherwise.

This news release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about estimated annual run-rate revenue and Adjusted EBIDTA, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of WELL may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL’s anticipated future business operations on an annual basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.

Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/well-health-achieves-1-billion-annualized-revenue-run-rate-ahead-of-plan-with-best-ever-quarterly-ebitda-and-free-cashflow-results-for-q3-2024-and-raises-annual-revenue-guidance-302298573.html

SOURCE WELL Health Technologies Corp.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Zooming into the green transformation, the “Together We Act” platform for China’s dual-carbon talent plan was released

Published

on

By

“Empowering Green Value Chains, Contributing to New Productive Forces” Side Event was Successfully Held at COP29

BAKU, Azerbaijan, Nov. 23, 2024 /PRNewswire/ — The side event titled “Empowering Green Value Chains, Contributing to New Productive Forces” was held in Baku, Azerbaijan, during COP29. The event was jointly organized by the Vanke Foundation, C Team, and Phoenix TV. The aim of the event was to explore how industries in China can empower human capital and implement green value chains to achieve green, efficient, and low-carbon operational models under the country’s dual-carbon strategy. The goal was also to inspire new productive forces and drive the green transformation of economic and social development.

The side event brought together experts, scholars, business representatives, and NGO partners from both China and abroad to discuss the latest global trends and developments in green value chains across key industries. The event was chaired by Yang Peidan, Director of C Team. In her opening remarks, Liu Xi, Senior Manager of Climate Change and Biodiversity at the Vanke Foundation, highlighted the foundation’s vision of a “beautiful and shared future home” and its commitment to promoting environmental protection and social public welfare. She also introduced the “Net Zero Drive” Talents Acceleration Initiative, unveiling the “Together We Act” platform, a significant new step in the foundation’s efforts to align with its strategies.

Liu Yifeng, Deputy Director of C Team, provided an in-depth introduction to the “Together We Act” platform. This platform aims to cultivate and empower talents in the field of China’s dual-carbon strategy, equipping individuals with the knowledge and skills needed to better adapt to and lead the green low-carbon transformation.

C Team is implementing a strategic upgrade to support the development of emerging industry talents while facilitating the transition of workers from traditional industries. This initiative aims to create a green employment market system. According to Liu, workers in traditional industries need to adapt to the “new wave” of industry transformation, while employees in emerging sectors must quickly update their knowledge and skills to keep pace with technological advancements. Through effective training and accelerated efforts, industries, businesses, and regions can better apply technologies and management practices, achieving both technological and energy transformations.

To this end, C Team has partnered with Tencent to develop the “Together We Act” platform. The platform breaks down knowledge into “knowledge cards,” which are categorized and tailored for workers in need of transformation or upskilling. The platform offers smart, content-driven training and quantitative assessments. By using algorithms, the platform provides personalized knowledge to users and includes management features that allow administrators to assign tasks and learning objectives. Knowledge and exercises are managed separately, creating a flexible and intelligent learning system.

Additionally, C Team plans to leverage the data on workforce technology upgrades and training behaviors collected by the platform to analyze the impact of dual-transformation policies and strategies on the workforce in both corporate supply chains and regional areas. This data will help companies and local governments better understand workforce trends and provide support for industry and regional transitions.

Media’s role is also essential in promoting new productive forces. Yang Yuntong, Director of International Cooperation and Project Operations at Phoenix TV, shared that as the largest well-rounded Chinese-language cultural media group overseas, Phoenix TV has long been committed to advancing new productive forces through practical actions. The group has been actively involved in climate-change communication in China and has hosted the annual “Zero-Carbon Mission International Climate Summit” for the past four years in the lead-up to COP, providing a platform for dialogue and discussion among stakeholders and influencing corporate practices and public advocacy.

Xu Shilun, head of the ESG projects at Onewo’s Sustainable Development Center, shared that reducing energy consumption and carbon emissions in property management are key concerns for the company. Onewo is integrating its experience from managing various spaces, such as communities and office buildings, into its “Magic Stone” AI system, focusing on energy management to improve carbon management efficiency in public spaces and encourage owners and tenants to adopt greener lifestyles.

The roundtable discussion focused on two main themes: “Collaborative Innovation of Diverse Forces in Creating New Productive Forces” and “Empowering Green Value Chains to Drive the Green Transformation of Economic and Social Development”. Representatives from leading companies such as JA Solar, Anta Group, Lenovo, Carbonstop, PES, Exiss, ACT, Dasso, Hainan Deeprock, and SQUAKE participated in the discussion. The Secretary of the CPC Municipal Committee of Huzhou City, Chen Hao, also joined via video to introduce the innovative concept of “Bamboo Forest Carbon Sequestration.”

The organizers stated that the side event was not only a deep exploration of green development concepts but also a firm commitment to future sustainable development. C Team plans to further collaborate with nonprofit organizations, environmental foundations, leading enterprises, research institutions, and knowledge service platforms to jointly promote public and inclusive transformation, ensuring that high-quality training content is presented on the platform. Through collective effort and the pooling of knowledge and resources, the event sought to support industry development, regional transformation, and the green transformation of society.

About C Team:
C Team is a non-profit organization dedicated to promoting corporate climate action and sustainable development.

View original content:https://www.prnewswire.com/news-releases/zooming-into-the-green-transformation-the-together-we-act-platform-for-chinas-dual-carbon-talent-plan-was-released-302314780.html

SOURCE C Team

Continue Reading

Technology

Urgent Call: Donate Electronics to Empower Charities Nationwide

Published

on

By

TORONTO, Nov. 23, 2024 /CNW/ – This holiday season, the Electronic Recycling Association (ERA) is spreading the spirit of giving with its annual 12 Days of Electronic Giving campaign. Aiming to donate over 200 electronic devices to charities across Canada, ERA is committed to empowering organizations to deliver critical services to their communities.

However, the demand for electronics remains pressing. More than 500 charities are still on ERA’s waitlist—a number that highlights the urgent need for public and corporate donations of pre-loved technology.

“Together, We Can Create Impact”
Bojan Paduh, Founder and President of ERA, urges individuals and businesses to step up this holiday season:

“We’ve accomplished so much, but hundreds of charities are still waiting for essential technology to continue their work. I encourage everyone to consider donating their unused laptops, tablets, or cell phones. Your generosity can transform lives and reduce e-waste at the same time.”

ERA’s 12 Days of Electronic Giving campaign is already making an impact, supporting a wide range of organizations across the country, including:

Children’s Autism Services of Edmonton – Edmonton, ABWinnipeg Humane Society – Winnipeg, MBBent Arrow Traditional Healing Society – Edmonton, ABCanadian Mental Health Association – Toronto, ONYork Region Educational Services – Toronto, ONIt Takes a Village Community Outreach and Advocacy – Halifax, NSToronto Fringe – Toronto, ONMarina Housing Co-op – Vancouver, BCAgape Table Inc. – Winnipeg, MBGreater Edmonton Live-In Society – Edmonton, ABEqual Housing Initiative Inc. – Winnipeg, MBValley Community Learning Association – Kentville, NSAlberta Children’s Hospital – Calgary, AB

How You Can Help
The holidays are the perfect time to give back. If you or your organization have unused electronic devices gathering dust, ERA invites you to donate and make a meaningful difference. Whether it’s a laptop, tablet, or cell phone, every device can create opportunities, reduce e-waste, and bring hope to someone in need.

Donating is Simple
ERA offers convenient, free pickup services across Canada.

Call: 1-877-9EWASTE / Email: info@era.ca / Visit: www.era.ca to schedule a pickup.

Let’s Make This Season Count
“Your donation today can change lives tomorrow,” adds Paduh. “Together, we can meet the urgent needs of these charities while fostering a sustainable future.”  Don’t wait—help ERA ensure no charity is left behind this holiday season.

SOURCE Electronic Recycling Association

Continue Reading

Technology

MyDataRemoval Proven More Effective Than Competing Data Removal Services [updated links]

Published

on

By

Internal and external reports show MyDataRemoval to be the most effective personal data removal service. MyDataRemoval has achieved over 70% data removal within the first week and 90% within four months, outperforming industry competitors who average 26% in the first week and 35% within four months.

LAS VEGAS, Nov. 23, 2024 /PRNewswire-PRWeb/ — Recent findings from a consumer advocacy group have raised concerns about the effectiveness of people-search site removal services, revealing high rates of ineffectiveness among tested companies. Notably, MyDataRemoval was not included in this study. In response, MyDataRemoval conducted an internal audit [updated link] to evaluate its standing relative to the competition, revealing that it was already leading the industry. Building on this success, MyDataRemoval has since enhanced its methodologies and technologies for data removal. As a result, MyDataRemoval is now reaching a 90% removal rate within four months and exceeding a 70% removal rate within the first week—results that place it well above the competition.

MyDataRemoval will remove your data from people search sites more effectively than anyone else out there.

Over 70% of personal data removed within the first week: MyDataRemoval successfully removed over 70% of personal data from people-search websites within just one week, outperforming all other services tested by Consumer Reports.Effectiveness over time: MyDataRemoval maintained superior performance compared to other data removal services, with 80% of data removed within one month and 90% within four months.Competitor Comparison in one week: The average effectiveness for the first week across competing services was 30%, whereas MyDataRemoval removed over 70%, demonstrating a clear advantage.Competitor Comparison at four months: Competing services demonstrated significantly lower data removal rates, with some services removing only 27% of personal data within four months.

MyDataRemoval’s internal audits have demonstrated that the service is not only more effective in the initial stages of data removal but also continues to outperform over time. Its proprietary methods, commitment to ongoing audits, and dedication to continuous improvement ensure that it remains a leader in data removal.

MyDataRemoval acknowledges that while current effectiveness rates are industry-leading, there is still room for growth. The goal is to achieve over 90% removal rates across all categories and time frames. MyDataRemoval is committed to conducting monthly audits and making these results publicly available to ensure transparency and continuous improvement. You can see the most recent audit results here [updated link].

Privacy is more important than ever, and MyDataRemoval is here to help individuals reclaim theirs. Do not settle for ineffective data removal—trust the service that has been proven to deliver results. Find MyDataRemoval at www.mydataremoval.com or contact us at hello@mydataremoval.com or call (855) 700-2914 to start your journey towards a more private online presence.

Stay tuned for our monthly audit updates to see how we are continuously improving to make your personal information private once again.

Audit date: 8/9/2024

Profiles removed within 1 week: 85%Profiles removed within 1 month: 71%Profiles removed within 4 months: 73%

Audit date: 9/9/2024

Profiles removed within 1 week: 85%Profiles removed within 1 month: 78%Profiles removed within 4 months: 92%

Audit date: 10/9/2024

Profiles removed within 1 week: 59%Profiles removed within 1 month: 81%Profiles removed within 4 months: 90%

Audit date: 11/9/2024

Profiles removed within 1 week: 77%Profiles removed within 1 month: 81%Profiles removed within 4 months: 90%

Media Contact

James Wilson, MyDataRemoval, 1 8557002194, hello@mydataremoval.com, https://www.mydataremoval.com

View original content:https://www.prweb.com/releases/mydataremoval-proven-more-effective-than-competing-data-removal-services-updated-links-302313853.html

SOURCE MyDataRemoval

Continue Reading

Trending