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Amwell Shares Rise After Expansion of Portfolio With Hello Heart
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American Well Corporation (AMWL - Free Report) , popularly known as Amwell, has expanded its clinical programs portfolio by partnering with Hello Heart, a digital leader in preventive heart health. Hello Heart offers the first app and connected heart monitor to help users track and manage their heart health with real-time tips.
Now available on the Amwell Converge platform, Hello Heart provides eligible members with tools to monitor and manage heart health risks such as high blood pressure and cholesterol. This partnership enhances Amwell’s ability to deliver comprehensive virtual care solutions from innovative partners, integrating cardiovascular health with primary care, urgent care, and behavioral health services for its clients' members.
This unified system enables health plans to provide employers and members with easy access to personalized, cost-effective healthcare solutions, aiming to improve clinical outcomes and enhance efficiency. Members who enroll in the digital heart health program receive a connected blood pressure monitor and an app that offers personalized coaching and tracks key health metrics. Clinicians can access the data and provide tailored care recommendations based on the results.
Likely Trend of AMWL Stock Following the News
Following the news, shares of AMWL rose 3.3% to $9.94 at yesterday’s closing.
Shares of Amwell have plunged 66.6% year to date compared with the industry’s 10.2% decline. The S&P 500 has risen 19.6% in the same time frame.
Amwell’s partnership with Hello Heart to expand its portfolio marks a positive development, reflecting optimism for investors. This collaboration enhances Amwell's hybrid care platform with a leading cardiovascular health management solution, reinforcing its comprehensive digital health offerings. With a robust platform already serving over 100 million covered lives, this expansion highlights Amwell’s commitment to addressing key health issues and improving care quality, potentially driving positive price performance and investor confidence.
Image Source: Zacks Investment Research
Significance of Amwell’s Partnership With Hello Heart
The addition of Hello Heart to Amwell’s clinical programs is a pivotal step in addressing the growing heart disease crisis, the leading cause of death in the United States.
By offering this solution, Amwell enables health plans and employers to tackle cardiovascular risks at scale, providing members with real-time heart health monitoring and personalized coaching. This partnership not only targets improved health outcomes but also helps reduce the significant financial burden of heart disease, which averages $12,500 per member annually. Amwell’s expansion into heart health through Hello Heart is a strategic move to provide cost-effective, whole-person care solutions.
Market Prospects Favoring AMWL
Per a report in Precedence Research, the global cardiovascular digital solutions market size was worth $116 billion in 2023. It is anticipated to reach $183.2 billion by 2032 at a CAGR of 5.2%.
The robust growth is likely to be driven by the rising incidence of cardiovascular disease, increased use of telehealth services and patient demand for convenience.
Rockwell Medical earnings surpassed estimates in each of the trailing four quarters, with the average being 87.9%.
RMTI’s shares have gained 79.7% compared with the industry's 10.7% growth year to date.
Quest Diagnostics has an estimated long-term growth rate of 6.8%. DGX's earnings surpassed estimates in each of the trailing four quarters, with the average being 3.3%.
Quest Diagnostics has gained 7.9% compared with the industry's 14.9% growth year to date.
RadNet’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 98.2%.
RDNT's shares have gained 93.7% year to date compared with the industry’s 14.8% growth.
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Amwell Shares Rise After Expansion of Portfolio With Hello Heart
American Well Corporation (AMWL - Free Report) , popularly known as Amwell, has expanded its clinical programs portfolio by partnering with Hello Heart, a digital leader in preventive heart health. Hello Heart offers the first app and connected heart monitor to help users track and manage their heart health with real-time tips.
Now available on the Amwell Converge platform, Hello Heart provides eligible members with tools to monitor and manage heart health risks such as high blood pressure and cholesterol. This partnership enhances Amwell’s ability to deliver comprehensive virtual care solutions from innovative partners, integrating cardiovascular health with primary care, urgent care, and behavioral health services for its clients' members.
This unified system enables health plans to provide employers and members with easy access to personalized, cost-effective healthcare solutions, aiming to improve clinical outcomes and enhance efficiency. Members who enroll in the digital heart health program receive a connected blood pressure monitor and an app that offers personalized coaching and tracks key health metrics. Clinicians can access the data and provide tailored care recommendations based on the results.
Likely Trend of AMWL Stock Following the News
Following the news, shares of AMWL rose 3.3% to $9.94 at yesterday’s closing.
Shares of Amwell have plunged 66.6% year to date compared with the industry’s 10.2% decline. The S&P 500 has risen 19.6% in the same time frame.
Amwell’s partnership with Hello Heart to expand its portfolio marks a positive development, reflecting optimism for investors. This collaboration enhances Amwell's hybrid care platform with a leading cardiovascular health management solution, reinforcing its comprehensive digital health offerings. With a robust platform already serving over 100 million covered lives, this expansion highlights Amwell’s commitment to addressing key health issues and improving care quality, potentially driving positive price performance and investor confidence.
Image Source: Zacks Investment Research
Significance of Amwell’s Partnership With Hello Heart
The addition of Hello Heart to Amwell’s clinical programs is a pivotal step in addressing the growing heart disease crisis, the leading cause of death in the United States.
By offering this solution, Amwell enables health plans and employers to tackle cardiovascular risks at scale, providing members with real-time heart health monitoring and personalized coaching. This partnership not only targets improved health outcomes but also helps reduce the significant financial burden of heart disease, which averages $12,500 per member annually. Amwell’s expansion into heart health through Hello Heart is a strategic move to provide cost-effective, whole-person care solutions.
Market Prospects Favoring AMWL
Per a report in Precedence Research, the global cardiovascular digital solutions market size was worth $116 billion in 2023. It is anticipated to reach $183.2 billion by 2032 at a CAGR of 5.2%.
The robust growth is likely to be driven by the rising incidence of cardiovascular disease, increased use of telehealth services and patient demand for convenience.
Zacks Rank & Other Key Picks
Currently, Amwell carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are Rockwell Medical (RMTI - Free Report) , Quest Diagnostics (DGX - Free Report) ), and RadNet (RDNT - Free Report) . While Rockwell Medical carries a Zacks Rank #1 (Strong Buy), Quest Diagnostics and RadNet carry a Zacks Rank #2 each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Rockwell Medical earnings surpassed estimates in each of the trailing four quarters, with the average being 87.9%.
RMTI’s shares have gained 79.7% compared with the industry's 10.7% growth year to date.
Quest Diagnostics has an estimated long-term growth rate of 6.8%. DGX's earnings surpassed estimates in each of the trailing four quarters, with the average being 3.3%.
Quest Diagnostics has gained 7.9% compared with the industry's 14.9% growth year to date.
RadNet’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 98.2%.
RDNT's shares have gained 93.7% year to date compared with the industry’s 14.8% growth.