Amwell® (NYSE: AMWL), a leading enterprise software company enabling digital delivery of care for healthcare’s key stakeholders, today announced that it has reached an agreement to shorten the earnout period associated with its acquisition of Conversa Health, the automated care company it purchased in August, 2021. This change further allows Amwell to accelerate the integration and alignment of Conversa in support of new product development, cross-selling opportunities, and operational efficiencies. As a result of this renegotiation, Amwell issued an aggregate of 1,020,964 shares of the Company’s Class A common stock to the former stockholders of Conversa Health.

“While we were planning to measure the earnout at the end of 2022, the benefits of full integration now are meaningful. Working as one team with Conversa, we are able to offer our clients a unique, fully integrated, yet comprehensive and highly scalable, end-to-end digital care delivery enterprise platform that enables the digital orchestration of physical, virtual and automated care,” said Dr. Ido Schoenberg, Chairman and CEO, Amwell. “It was evident from the start that Conversa is a great strategic fit for Amwell. Seamlessly integrating Conversa now enables us to drive important cultural, operational and go to market initiatives as one company, bolstering our overall differentiation with advanced, coordinated care programs, and amplifying our ability to deliver on our vision for digital first care delivery.”

“Leading healthcare organizations are using our automated care programs to enhance care quality, access and experience, while driving better health outcomes,” said Murray Brozinsky, CEO of Conversa Health. “Now, as part of Amwell, we are accelerating our vision to power the healthcare delivery model of the future – one in which physical, virtual, and automated interactions are orchestrated using data to optimize care delivery. Together, we are reimagining how care is delivered – shifting from reactive to proactive, episodic to continuous, and hospital to home – to improve outcomes and experience for both patients and for providers.”

About Amwell

Amwell is a leading telehealth platform in the United States and globally, connecting and enabling providers, insurers, patients, and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that digital care delivery will transform healthcare. The Company offers a single, comprehensive platform to support all telehealth needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With over a decade of experience, Amwell powers telehealth solutions for over 2,000 hospitals and 55 health plan partners with over 36,000 employers, covering over 80 million lives. For more information, please visit https://business.amwell.com/.

American Well, Amwell, SilverCloud, Conversa, Converge and Carepoint are registered trademarks or trademarks of American Well Corporation in the United States and other countries. All other trademarks used herein are the property of their respective owners.

Forward-Looking Statements

This press release contains forward-looking statements about us and our industry that involve substantial risks and uncertainties and are based on our beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations, financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” or “would,” or the negative of these words or other similar terms or expressions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements represent our beliefs and assumptions only as of the date of this release. These statements, and related risks, uncertainties, factors and assumptions, include, but are not limited to: weak growth and increased volatility in the telehealth market; inability to adapt to rapid technological changes; increased competition from existing and potential new participants in the healthcare industry; changes in healthcare laws, regulations or trends and our ability to operate in the heavily regulated healthcare industry; our ability to comply with federal and state privacy regulations; the significant liability that could result from a cybersecurity breach; and other factors described under ‘Risk Factors’ in our Form 10-K filed with the SEC on February 28, 2022. These risks are not exhaustive. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Further information on factors that could cause actual results to differ materially from the results anticipated by our forward-looking statements is included in the reports we have filed or will file with the Securities and Exchange Commission. These filings, when available, are available on the investor relations section of our website at investors.amwell.com and on the SEC’s website at www.sec.gov.

Investor: Susan Dooley susan.dooley@amwell.com

Media: Lindsay Sharifipour press@amwell.com

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