1300 ET - WELL Health Technologies' 22% sell-off is overdone, says TD Cowen's David Kwan. The digital healthcare company said it would delay its audited annual consolidated financial statements due to accounting implications related its subsidiary Circle Medical Technologies. Kwan says in a note that Circle only accounts for about 13% of WELL's last-twelve-months of revenue and about 8% of last-twelve- months adjusted Ebitda. "The decrease in WELL's market cap today is greater than 50% more than we value Circle's entire business," Kwan says. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
March 31, 2025 13:00 ET (17:00 GMT)
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