Vancouver-headquartered WELL Health Technologies announced this week that its majority-owned subsidiary Wisp has officially achieved two important milestones.
The sexual and reproductive telehealth provider in the United States surpassed one million patients served nationwide in the United States and recorded more than CAD $100 million in run-rate revenue for the first time based on its July results.
WELL acquired a majority stake in San Francisco’s WISP three year ago for USD $41 million in cash and common shares.
This milestone firmly establishes Wisp as the largest and fastest-growing telehealth platform for women, offering innovative and first-to-market products throughout every stage of a woman’s health journey.
“Reaching well over one million patients and continuing our revenue runrate to over $78M US with profitability is a profound testament to Wisp’s mission to redefine women’s health with a focus on sexual and reproductive healthcare,” said Monica Cepak, CEO of Wisp.
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“With 10% of our patient base residing in areas of the US where there are significant impediments to access care, we are dedicated to expanding access to essential healthcare services. As we look ahead, we are eager to not only enhance our offerings in diagnostics, fertility, and menopause care, but we are also gearing up for some of our most ambitious product launches to date, expected later this year.”
Last month Wisp surpassed USD $6.5 million in revenues marking a significant milestone in its rapid ascent as a leader in women’s telehealth. This growth is fuelled by increasing demand for Wisp’s innovative healthcare solutions, reflected in a 30% year-over-year revenue increase and the ability to consistently generate positive EBITDA with minimal capital investment.
In 2024, Wisp introduced over ten new products, including a fertility vertical and the Wisp+ Membership Program, designed to meet the growing needs of patients seeking treatments for conditions such as yeast infections, bacterial vaginosis (BV), herpes, and urinary tract infections (UTIs).
Looking ahead, Wisp plans to further expand its offerings in menopause care, UTI treatment, and at-home testing options in addition to areas of healthcare important to women.
The company’s commitment to innovation is highlighted by its pioneering first-to-market launch of DoxyPEP, a breakthrough ‘morning after pill’ for STIs and STDs, underscoring Wisp’s dedication to advancing women’s healthcare.
Wisp’s patient-centric approach allows individuals to access the treatments they need with ease, discretion, and without the need for insurance. Through private online consultations, patients can receive both over-the-counter and prescription treatments via same-day pharmacy pickup or free discreet delivery, making equitable healthcare accessible to women across all 50 states.
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