(Source: https://bhbusiness.com/ ) Telehealth company Amwell (NYSE: AMWL) saw subscription revenue pop after adding behavioral health provider SilverCloud and health automation tool Conversa Health to its platform.
Leaders at the Boston-based company, officially known as American Well Corp., say the success of SilverCloud, a virtual mental health provider, demonstrates the high demand for behavioral health services. It also illustrates the significant opportunity to incorporate mental health into its all-encompassing health service offerings for health plans and health care providers.
Amwell acquired SilverCloud for $226.2 million and paid $118.6 million for Conversa in deals that closed in August 2021. SilverCloud, Conversa and other services are a part of the Converge platform, the amalgamation of services and tech architecture that acts as the backbone of Amwell’s services.