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Amwell Closes Acquisitions of SilverCloud Health and Conversa Health

August, 31, 2021

With Rapid Execution of Two Strategic Deals, Amwell Initiates Focused Workstreams to Enrich and Scale its Digital Care Enablement Platform

BOSTON--(BUSINESS WIRE)-- Amwell® (NYSE: AMWL) today announced that it has closed its acquisitions of SilverCloud Health and Conversa Health. By adding the proven longitudinal care and behavioral healthcare capabilities of these two companies to its digital care enablement platform, Amwell is positioned to introduce game changing technology that will advance the reach and impact of care teams around the globe and will strengthen the cohesion between physical, automated and virtual care.

“Amwell’s strategic intent is to deliver the industry’s most robust digital care enablement platform – one that is supported with a vast clinical network, highly intelligent and interactive technology, and one that will position health systems and health plans to lead healthcare toward a future of improved care access and delivery that blends in-person, virtual and digital experiences,” said Ido Schoenberg, Chairman and Co-CEO, Amwell. “Having closed these transactions, we are executing on our plans to drive high-margin growth through increased utilization of our Converge platform, the development of new digital care workflows and programs, and with the strategic expansion of our global footprint.”

To learn more about these two acquisitions please visit the Amwell Newsroom.

About Amwell

Amwell is a leading telehealth platform in the United States and globally, connecting and enabling providers, insurers, patients, and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that digital care delivery will transform healthcare. The Company offers a single, comprehensive platform to support all telehealth needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With over a decade of experience, Amwell powers telehealth solutions for over 2,000 hospitals and 55 health plan partners with over 36,000 employers, covering over 80 million lives. For more information, please visit https://business.amwell.com/.

American Well, Amwell, Converge and Carepoint are registered trademarks or trademarks of American Well Corporation in the United States and other countries. All other trademarks used herein are the property of their respective owners.

Forward-Looking Statements

This press release contains forward-looking statements about us and our industry that involve substantial risks and uncertainties and are based on our beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations, financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” or “would,” or the negative of these words or other similar terms or expressions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements represent our beliefs and assumptions only as of the date of this release. These statements, and related risks, uncertainties, factors and assumptions, include, but are not limited to: weak growth and increased volatility in the telehealth market; inability to adapt to rapid technological changes; increased competition from existing and potential new participants in the healthcare industry; changes in healthcare laws, regulations or trends and our ability to operate in the heavily regulated healthcare industry; our ability to comply with federal and state privacy regulations; the significant liability that could result from a cybersecurity breach; and other factors described under ‘Risk Factors’ in our Form 10-K filed with the SEC on March 26, 2021. These risks are not exhaustive. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Further information on factors that could cause actual results to differ materially from the results anticipated by our forward-looking statements is included in the reports we have filed or will file with the Securities and Exchange Commission. These filings, when available, are available on the investor relations section of our website at investors.amwell.com and on the SEC’s website at www.sec.gov.

Holly Spring
holly.spring@amwell.com
781.888.8219

Source: Amwell

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