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
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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.
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SOURCE WELL Health Technologies Corp.
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First season of NWSL on ION: 50 matches, 53 studio shows, 130+ hours of content, 20.5 million unique viewers
Published
10 mins agoon
November 7, 2024By
CINCINNATI, Nov. 7, 2024 /PRNewswire/ — The first season of National Women’s Soccer League on ION broadcasts – matches and studio shows – reached more than 20.5 million total unique viewers, including 13.5 viewers unique to ION.
Scripps Sports televised Saturday night doubleheaders on ION throughout the season, a total of 50 matches – more than any other network – and 53 studio shows. ION was among the networks involved in a landmark multi-year distribution agreement announced in November 2023 that included CBS Sports, ESPN and Prime Video.
ION, the only network to have a weekly studio show with documentary-style features on players and coaches, delivered more than 130 hours of NWSL content during the season. ION is a national sports and entertainment broadcast network that reaches every U.S. TV household over-the-air and on all major pay TV and connected TV services. ION is owned by The E.W. Scripps Company (Nasdaq: SSP).
Highlights of NWSL on ION Season 1*:
ION delivered the largest female percentage audience of any network (57% of the P25-54 audience, 55% of the P2+ audience).50% of all NWSL viewers watched matches on ION, the highest percentage of all linear broadcast partners.Matches drew an average audience of 145,000 P2+ per game with a high of 234,000 on July 6 for the Orlando–Kansas City match.NWSL matches on ION delivered more than 3.6 million hours of viewing across free ad-supported television (FAST) channels, including Roku, Samsung TV, LG, Vizio, Xumo, Plex, Amazon Fire TV Channels, Pluto, CW and Tablo.Scripps Sports formed more than two dozen advertising partnerships, including Capital One as presenting sponsor of NWSL on ION Saturday Night soccer.
“NWSL fans consistently showed up to watch ION every week,” Scripps Sports President Brian Lawlor said. “It was an incredible first year. We expect to continue growing the audience and helping the league grow its fan base.”
“Our matches on ION brought incredible NWSL content to fans everywhere,” said Brian Gordon, NWSL senior vice president of broadcast. “Beyond the matches, the ability to go in depth with our athletes and give them a platform to amplify their own stories helped our fans grow an even deeper affinity for the players, clubs and league. We are very proud of our collaboration with Scripps Sports and look forward to continuing our work together next season.”
*Sources for data: Nielsen L+SD national panel one-minute qualifier for reach. Data for NWSL+, Prime Video and Paramount+ is not available.
Scripps media contact: Michael Perry, (513) 259-4718, michael.perry@scripps.com
NWSL contact: Jennifer Levine, (917) 921-7806, jlevine@nwslsoccer.com
Scripps Sports serves professional and college sports leagues, conferences and teams with local market depth and national broadcast reach. Scripps Sports currently has partnerships with the Women’s National Basketball Association (WNBA), the National Women’s Soccer League (NWSL), the National Hockey League’s (NHL) 2024 Stanley Cup champion Florida Panthers, the 2023 Stanley Cup champion Vegas Golden Knights, the new Utah Hockey Club and the NCAA’s Big Sky Conference. Scripps Sports is a division of The E.W. Scripps Company (NASDAQ: SSP), a Fortune 1000 American media company.
View original content to download multimedia:https://www.prnewswire.com/news-releases/first-season-of-nwsl-on-ion-50-matches-53-studio-shows-130-hours-of-content-20-5-million-unique-viewers-302298952.html
SOURCE The E.W. Scripps Company
Technology
Jaime L. Cook Appointed Vice President of Operations and Market Development at Linear Integrated Systems, Inc.
Published
10 mins agoon
November 7, 2024By
FREMONT, Calif., Nov. 7, 2024 /PRNewswire/ — Linear Integrated Systems, Inc. is pleased to announce the appointment of Jaime L. Cook as Vice President of Operations and Market Development. In this pivotal role, Ms. Cook will oversee all operational functions and spearhead market development initiatives.
Jaime Cook has been a valued member of the Linear Systems team since 2009. Before assuming her new role, Ms. Cook served as Sales Manager, Director of Sales, and VP of Operations, gaining extensive experience across multiple facets of the company. Ms. Cook brings a wealth of knowledge and expertise to her position as VP of Operations & Market Development. She holds bachelor’s degrees in Real Estate and Land Use, as well as Strategic Management. Her education, certifications, and work experience have honed her skills in strategic planning, negotiation, and relationship building—qualities that significantly contribute to her expanded responsibilities at Linear Systems.
“I’m incredibly proud to have built my career at Linear Systems and to be part of a team of exceptional individuals committed to producing the industry’s best specialty linear semiconductors while consistently meeting the highest standards of performance and reliability,” said Cook. “I am excited to expand my responsibilities, drive operational excellence, and lead efforts to explore new market opportunities.”
Cindy L. Johnson, CEO of Linear Systems, stated, “Jaime’s leadership in operations and market development is pivotal as we aim to expand our product reach and strengthen customer relationships. Her strategic vision is vital to our mission of delivering ultra-reliable JFETs and other components that enable our clients to achieve outstanding performance in their designs.”
Founded 37 years ago by John M. Hall, Cindy L. Johnson, and John H. Hall, Linear Integrated Systems, Inc. is a privately held designer and manufacturer of small-signal discrete semiconductors based in Fremont, CA. John H. Hall, a co-founder of Intersil and the founder of Micro Power Systems, brought significant expertise and innovation to the company.
Linear Systems offers a diverse product line, including Dual JFET Amplifiers, Single JFET Amplifiers, JFET Switches, DMOS High Speed Switches, Low Leakage Diodes, Current Regulating Diodes, Bipolar Transistors, MOSFETs, Voltage Controlled Resistors and BIFET Amplifiers. Visit www.linearsystems.com to download our 2024 Data Book, Cross Reference Guide, datasheets, SPICE models, application notes, and more.
Stay connected and join our growing LinkedIn community for updates and insights. You can also follow us on YouTube, Facebook, Instagram and X.
Contact:
Laura Madonna
laura@linearsystems.com
Phone: (510) 490-9160
Website: www.linearsystems.com
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SOURCE Linear Integrated Systems
Technology
Mammotome Introduces the First Ever, Single Insertion, Spring-Loaded Core Biopsy System
Published
10 mins agoon
November 7, 2024By
CINCINNATI, Nov. 7, 2024 /PRNewswire/ — Mammotome is excited to unveil the Mammotome AutoCore™ Single Insertion Core Biopsy System, the first automated spring-loaded core needle device on the market.1 This innovative launch highlights the company’s unwavering dedication to pioneering breast biopsy technology and improving patient care.
The Mammotome AutoCore™ system offers significant advantages over traditional core needle devices, saving valuable time for physicians and improving the patient experience.2 Developed with efficiency and ergonomics in mind, the single insertion design simplifies ultrasound-guided biopsies by reducing procedural steps.3,4
The system features single-button functionality with automated arming, allowing the user to perform all sampling steps with one button. This eliminates manual arming and enables easy one-handed operation. Designed for touchless tissue transfer, samples are automatically collected in a clear, illuminated cup positioned in front of the user’s hand. A wiper arm moves each sample from the aperture to the cup, eliminating the need to remove and reinsert the needle between samples. Once all samples are obtained, the tissue collection cup can be removed and placed directly into formalin. This innovation reduces procedural steps and time while allowing physicians to maintain visual focus on the lesion, ensuring precise sampling.2,3,4
“Mammotome is dedicated to providing innovative solutions that improve the biopsy experience for both patients and physicians,” said Karen Isaacs, Vice President of Engineering and R&D at Mammotome. “The Mammotome AutoCore™ system is the first core needle device of its kind, bringing in a new era of efficiency for ultrasound core needle breast biopsies. The launch of this device is a testament to our ongoing dedication to innovation and excellence in breast care.”
The Mammotome AutoCore™ system is now FDA cleared in the United States and will be available to clinicians domestically in early 2025, with plans to expand to other select countries across the globe.
To learn more about the Mammotome AutoCore™ system, click here.
About Mammotome
At Mammotome, our expertise and compassion for breast care makes us the indispensable partner to physicians, clinicians and patients. Our drive for innovation is rivaled only by our compassion for the people we serve, from the clinicians and surgeons who demand consistently precise solutions, to the patients and families seeking peace of mind. We boast a comprehensive range of products that create better outcomes in breast care and provide physicians and patients with educational resources that guide their journey. Headquartered in Cincinnati, Ohio, Mammotome is proud to be a part of Danaher. Danaher is a global science and technology leader. Together we combine our capabilities to accelerate the real-life impact of tomorrow’s science and technology to improve human health. The Mammotome brand of products is sold in over 65 different countries throughout the world.
Automated means automatic arming and tissue collection at the press of a button.As compared to market leading, spring-loaded core needle or multiple insertion devices. Based on IFU analysis in ultrasound-guided breast biopsy procedures. Total procedure steps savings based on biopsy procedure taking five tissue samples including setup and post-procedure steps. On average, based on internal study using varied customer tissue handling techniques. Tissue handling techniques determined by user interviews.
View original content to download multimedia:https://www.prnewswire.com/news-releases/mammotome-introduces-the-first-ever-single-insertion-spring-loaded-core-biopsy-system-302298945.html
SOURCE MAMMOTOME
First season of NWSL on ION: 50 matches, 53 studio shows, 130+ hours of content, 20.5 million unique viewers
Jaime L. Cook Appointed Vice President of Operations and Market Development at Linear Integrated Systems, Inc.
Mammotome Introduces the First Ever, Single Insertion, Spring-Loaded Core Biopsy System
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