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Investing.com -- American Well Corp (NYSE:AMWL) stock surged 17.7% after announcing an extension of its Digital First contract to power virtual care for the Military Health System (MHS).
The healthcare technology company, commonly known as Amwell, will continue providing its technology-enabled care platform as part of a Leidos-led partnership serving approximately 9.6 million military beneficiaries. The platform has already been deployed across the global Department of Defense enterprise, the U.S. Military Entrance Processing Command, and the U.S. Coast Guard.
According to Amwell, the platform has nearly tripled virtual visits since replacing the previous MHS Video Connect capability. The system is fully integrated with the MHS electronic health record and enables providers to deliver tech-enabled care to service members and their families.
"Our platform is in use across the global DOD enterprise, enabling high quality, efficient care for this important population," said Ido Schoenberg, M.D., chairman and CEO of Amwell. "We are grateful for the service of our nation’s military, and we are proud to be supporting their wellbeing."
The platform supports the Department of Defense’s Digital Front Door initiative, which has brought new capabilities to MHS GENESIS, an advanced electronic health record system. Notable achievements include successful virtual visits connecting deployed units in combat zones with military hospitals in the United States.
The contract extension represents a significant continuation of Amwell’s work with the military healthcare system, which serves active-duty service members, family members, retirees, and health professionals.
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