WELL Health Delivers Record 4.3M Patient Visits in 2025, Signaling Robust Growth in Digital Health Delivery
On February 24, 2026, WELL Health Technologies Corp. (TSX: WELL; OTCQX: WHTCF), a leading digital healthcare provider, released a corporate update highlighting extraordinary momentum in its Canadian patient services business. The company reported a record 4.3 million patient visits in 2025, marking a 37% year-over-year increase and 10% organic growth. This performance, coupled with industry-leading patient satisfaction metrics and network expansion, positions WELL as a frontrunner in technology-enabled healthcare delivery.[3]
Breakdown of Key 2025 Achievements
WELL's Canadian clinic network, now comprising 252 locations, added 41 clinics throughout 2025—equivalent to 19% year-over-year growth. This expansion was achieved through a combination of organic development and strategic acquisitions, enhancing geographic coverage and access to primary care services across the country.[3]
Patient satisfaction remains a cornerstone of WELL's model. The primary care network achieved an average Net Promoter Score (NPS) of 80 based on 77,500 reviews, significantly surpassing industry benchmarks. WELL Health Diagnostics Centres garnered approximately 50,000 Google reviews with average scores of 4.8 to 4.9, reflecting the efficacy of its tech-enabled care platforms in delivering superior patient experiences.[3]
Provider growth further bolsters this foundation. WELL's Canadian network now includes over 3,100 providers, up 27% from 2024, with physicians—the fastest-growing segment—increasing by 34% year-over-year. Investments in recruitment, onboarding, and digital enablement have expanded practitioner capacity, supporting new patient panels in high-demand areas.[3]
Strategic Drivers Behind the Surge
CEO Hamed Shahbazi emphasized the dual impact of scale and quality: "Our technology-enabled healthcare delivery network isn’t just bringing access and financial sustainability to the country’s healthcare ecosystem, but it is also delighting patients in the process." Growth stemmed from heightened demand for primary care, operational efficiencies via proprietary platforms, and disciplined execution on clinic integrations.[3]
In the broader digital health landscape, WELL's results align with escalating pressures on traditional healthcare systems. Canada's aging population and physician shortages have amplified the need for efficient, accessible care models. WELL's platform addresses these by digitizing workflows, optimizing clinic utilization, and fostering longitudinal patient relationships that extend across delivery channels.[3]
Financially, while specific 2025 revenue figures were not disclosed in this update, the visit volume growth implies substantial top-line expansion. Assuming conservative average revenue per visit (based on industry norms of CAD 100-150 for primary care), this equates to an implied run-rate exceeding CAD 430-645 million from Canadian services alone. WELL's prior quarters have demonstrated high margins from tech leverage, suggesting profitability improvements as fixed costs dilute over higher volumes.[3]
Market Context and Peer Comparison
WELL operates in a burgeoning digital health sector, where companies integrating telemedicine, electronic health records, and clinic management tools are capturing market share. Peers like Teladoc Health and Maple have faced headwinds from post-pandemic normalization, but WELL's hybrid model—blending virtual and in-person care—has proven resilient, particularly in regulated markets like Canada.[3]
The company's U.S. footprint, though smaller, targets high-growth niches including gastroenterology, women's health, primary care, and behavioral health. This diversification mitigates Canada-centric risks while tapping into the world's largest healthcare market, valued at over USD 4 trillion. Recent Canadian momentum could accelerate U.S. scaling, especially as payers prioritize value-based care.[3]
Stock market reaction to the February 24 announcement will be telling. WELL shares have historically responded positively to operational updates demonstrating visit growth and satisfaction. Trading on the TSX under WELL and OTCQX as WHTCF, the stock benefits from strong institutional interest in digital health pure-plays with proven execution.
Forward Outlook and Growth Catalysts
WELL's update underscores a trajectory of sustained organic expansion, with management highlighting patient visits as a key driver for enterprise-wide growth. Forward-looking priorities include further clinic absorptions, platform digitization, and practitioner enablement. The 10% organic visit growth excludes M&A, indicating a scalable core business less reliant on deal-making.[3]
Key watch items for 2026:
Full-Year 2025 Financials: Upcoming earnings will quantify revenue and EBITDA contributions from the visit surge.
U.S. Acceleration: Progress in specialized verticals could double international revenue.
Tech Roadmap: Enhancements to AI-driven triage and predictive analytics for better outcomes.
Macro Tailwinds: Canadian government initiatives for digital health adoption and primary care reform.
[3]
Risks remain, including reimbursement pressures, regulatory changes, and competition from Big Tech entrants like Amazon Clinic. However, WELL's entrenched provider relationships and superior NPS provide a moat. Forward-looking statements note uncertainties, but the track record supports optimism.[3]
Implications for Investors
For digital health investors, WELL exemplifies a 'picks and shovels' play on healthcare digitization. The 37% visit growth outpaces sector averages, while satisfaction metrics validate quality. At current valuations (typically 1-2x sales for growth peers), WELL offers asymmetric upside if U.S. execution mirrors Canada.
Institutional adoption of tech-enabled models continues, with WELL's 3,100+ providers forming a network effect. As utilization rises—potentially via expanded telehealth—the revenue flywheel strengthens. Analysts may revise estimates upward post this update, targeting 20-30% CAGR through 2028.
Bullish undertones persist amid sector rotation toward profitable scalers. WELL's disciplined approach positions it to weather volatility, capitalizing on structural demand for accessible care.
Conclusion
WELL Health's 2025 results—4.3 million visits, NPS 80, 252 clinics, 3,100 providers—crystallize its leadership in digital health. This update not only validates the tech-enabled model's viability but also charts a path for multi-year compounding. Investors eyeing resilient growth stories in healthcare would do well to monitor WELL closely as it bridges Canadian dominance with U.S. potential.
