VANCOUVER, BC, Oct. 21, 2021 /CNW/ – The parent company of Focus Mental Wellness, WELL Health Technologies Corp. (TSX: WELL) (the “Company” or “WELL“), a company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, announced today that it has compiled and unveiled data from its Canadian primary care business that demonstrates significant growth in the demand for mental health services.
WELL’s clinical data reflected a 72% organic increase in mental health visits in its primary care business in Canada in Fiscal Q3-2021 as compared to pre-pandemic periods. WELL’s data also demonstrated a strong bias for virtual care with 68% of mental health visits occurring via virtual care as compared to approximately 45% for all visits. WELL’s growing portfolio of virtual tools and technology-enabled practitioners are working hard to rapidly deploy behavioural health care services to a geographically widespread and increasingly isolated populace. Public health officials forecast that by the year 2030 mental health conditions will be the leading burden of disease globally(1).
Founder and CEO of WELL, Hamed Shahbazi comments, “We are very pleased to publish this revealing data soon after World Mental Health Day. While our clinical data suggests a significant rise in demand for mental health services in Canada, we believe part of the reason for the dramatic growth is also due to the de-stigmatization of mental health care needs that have occurred in recent times in addition to the availability of digital tools that have served to break down barriers allowing care providers and patients to connect with greater levels of ease and security than before.” He adds, “The adoption of virtual mental health platforms will be a permanent and growing fixture of the healthcare system, and offer an accessible, flexible, and secure mental health care option for patients moving forward. WELL’s growing portfolio of digital investments including our Adracare and Insig platforms are continuing to see elevated mental health usage across the country as well as new mental health-related customer wins with enterprise customers.”
WELL Ventures, a wholly-owned subsidiary of WELL, whose mandate is to invest in exceptional leaders, entrepreneurs and businesses supporting the global digital health ecosystem, with an emphasis on advancing innovative digital health initiatives in Canada, announces it has invested in Hasu Behavioural Health (“Hasu“), a virtual online therapy clinic that provides secure online video, phone and text therapy for individuals and their families struggling with mental health issues such as anxiety, depression, stress, relationship problems, trauma, as well as substance abuse. Hasu also offers flexible solutions for organizations looking to support their employees, members or patients with an easy-to-use and anonymous way to access mental health and substance abuse services. Hasu providers can grow their online practice without the headache and cost of running a private practice on their own, allowing them to focus on clinical work and patient outcomes.
Marion Adams, CEO of Hasu commented, “We chose WELL as our strategic partner to help unlock the value of our services and extensive experience in the market. Their commitment to mental health coupled with WELL’s growing and compelling arsenal of digital capabilities that support practitioners impressed us.” Marion continues, “We look forward to working with WELL to help support the increasing demand for virtual mental health therapy services across the country, for both individuals and organizations alike”.
WELL plans to enable Hasu as an authorized digital patient services partner and promote Hasu’s virtual therapy services within its own expanding network and distribution channels. The Company was also granted a call option right from Hasu’s existing shareholders to purchase the remaining outstanding shares of Hasu which it does not already own.
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