Company: AMWL
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000950170-25-019024
Chunk: 63

Company: American Well Corp
Filing Date: 2025-02-12
Form: 10-K
Item: Item 1
Chunk 63
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 to Expand Capabilities 

We continue to invest in our enterprise platform and software, developing new technologies, capabilities and programs that meet the broadening needs of our clients. We also partner with our clients and other stakeholders to build new features, modules and programs.

Selectively Pursue Acquisitions 

Our comprehensive enterprise platform and software services enable us to selectively pursue strategic and complementary assets to support our clients’ needs. We have a track record of successfully identifying and integrating acquisitions and continue to evaluate acquisition opportunities that complement our strong organic growth opportunities. 

Dispositions

On January 8, 2025, Amwell entered into an asset purchase agreement relating to the sale of all property and assets owned, leased or licensed by Amwell's wholly owned subsidiary, Aligned Telehealth, LLC ("Aligned"), and affiliated clinical partner, Asana Integrated Medical Group ("Asana" and together with Aligned, "APC"), which are primarily used or held for use in connection with Amwell’s business of providing telepsychiatry services to hospitals and correctional programs (the "APC Business"), subject to certain specified exclusions such as cash. The purchase price is comprised of (i) an upfront cash payment of $20,714, which is equal to 1.1x the APC Business’atrailing twelve-month revenue, excluding on-site revenue attributable to certain of the APC Business’ contracts and subject to customary adjustments and (ii) an additional cash payment equal to 0.4x the buyer and its affiliates’ aggregate revenues arising from the provision of the APC Business, subject to limitations, during the twelve-month period immediately following the closing.

Our Products

The primary product we sell is access to the Amwell Converge platform, our enterprise, digital care delivery platform and software, via recurring subscriptions. We sell additional related services and solutions via configurable modules, partner programs, and Carepoint devices and services, including implementation, engagement, cart fleet management and integration. These additional services can be added to any base platform subscription. We augment customers’ successful adoption of virtual care delivery by also selling access to clinical services on a fee-for-service basis on our platform and through our direct-to-consumer app. 

Our Technology and Operations 

Our platform, software and services are designed to provide superior patient and provider experiences. Our scalable, secure architecture supports data exchange, integration with EHRs, other data repositories and third-party devices and access to third party clinical programs.  Additionally, we offer a portfolio of services to our clients to support their digital care platform,