Amwell raises nearly $200M: 4 notes

To keep up with the high demand of telehealth, virtual care provider Amwell announced May 20 that it has raised $194 million in funding.

Four notes:

1. Amwell plans to use significant parts of the funding to support rapid growth of its telehealth technology and services.

2. COVID-19 has facilitated a dramatic expansion in usage of Amwell's telehealth platform, including growth in on-demand visits for COVID-19 symptoms and assessments as well as significantly higher scheduled visit volumes for regular primary care check-ins and prescription renewals during "stay at home" orders. 

3. The telehealth company said it has recently facilitated as many as 45,000 telehealth visits per day across its virtual care platform.

"The past two months have accelerated telehealth by more than two years," Amwell CEO Ido Schoenberg, MD, said in the news release. "We intend to build upon this momentum to transform healthcare with digital care delivery."

4. Investors including Takeda and Allianz X led the financing round. Dr. Schoenberg said other investors include providers, insurers and consumer gateways.

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