WELL Provides Business Update on Wisp - A Leader In Reproductive Health

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Jun 29, 2022, 07:00 ET

VANCOUVER, BC, June 29, 2022 /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) ("WELL" or the "Company"), a digital health company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to provide an update regarding its majority owned subsidiary, Wisp. As the fastest, most accessible sexual and reproductive telehealth service in the U.S. today, Wisp is committed to providing specialized services to address the most intimate of issues from bacterial vaginosis to herpes to birth control and emergency contraception.

In light of the U.S. Supreme Court's verdict on Roe v. Wade, Wisp is announcing its commitment to helping people get the healthcare they need and will be donating 1% of proceeds from its emergency contraceptive and birth control categories for the next 2 months in addition to matching employee donations. Proceeds will be donated to Wisp's long-standing partners, Sexuality Information and Education Council of the United States (SIECUS) which advances sex education through advocacy, policy and coalition building and The New York Birth Control Access Project (NYBCAP) which helps break down barriers and increases access, so all New Yorkers are able to obtain the birth control they need. Wisp is also paying travel costs for employees that need support with reproductive health services.

"Since launching in 2018, Wisp's mission has always been to make sexual and reproductive healthcare inclusive, cost-effective, and accessible—for everyone," said Ahmad Bani, CEO. "For this reason, we are working extremely hard to advance and accelerate our product development efforts to introduce new products that improve access to reproductive health."

After the U.S. Supreme Court overturned the Roe v. Wade ruling, Wisp saw an unprecedented 3,000% surge in its emergency contraceptive category within 24 hours.

"The decision fueled consumer demand for emergency contraceptives from trusted and reliable sources," commented Dr. Laura Purdy, MD and Wisp Medical Director. "We're committed to continuing to offer patients safe, accessible and convenient options."

For more information on Wisp please visit hellowisp.com.

About WELL Health Technologies Corp.

WELL is a practitioner focused digital health company whose overarching objective is to positively impact health outcomes to empower and support healthcare practitioners and their patients. WELL has built an innovative practitioner enablement platform that includes comprehensive end to end practice management tools inclusive of virtual care and digital patient engagement capabilities as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services. WELL uses this platform to power healthcare practitioners both inside and outside of WELL's own omni-channel patient services offerings. As such, WELL owns and operates Canada's largest network of outpatient medical clinics serving primary and specialized healthcare services and is the provider of a leading multi-national, multi-disciplinary telehealth offering. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and trades on the OTCQX under the symbol "WHTCF". To learn more about the Company, please visit: www.well.company.'

About Wisp.

Wisp is a US technology leader and innovator whose objective is to make reproductive and sexual healthcare inclusive, cost-effective, and accessible for all. Wisp began by providing discreet sexual health treatments online and has grown to offer a comprehensive menu of products and telehealth services, including prescription medication, OTC prevention, primary care consultations, contraception delivery, and more. Wisp is a growing and profitable company with run-rate revenues exceeding $40M USD and is majority-owned by WELL. To learn more, please visit www.hellowisp.com.

Forward-Looking Information

This news release may contain "Forward-Looking Information" within the meaning of applicable Canadian securities laws, including without limitation Wisp's response initiatives, and commitment plans. Forward-Looking Information is based upon several 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 involves 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 such Forward Looking Information and, which are not guarantees of future performance. WELL's statements expressed or implied by Forward Looking Information are subject to several risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such statements. Forward-Looking Information is 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.

SOURCE WELL Health Technologies Corp.