LG Electronics is partnering with Amwell to develop new digital health solutions that target expanded patient access to care.
The electronics giant will develop a healthcare platform to host services from Amwell's digital health platform Converge, Converge-integrated services and other third-party tools using LG devices.
LG currently provides smart TVs in patient rooms across the U.S., and the partnership looks to broaden the company's reach in healthcare with offerings available both in the hospital and in the home.
The company looks to begin the collaboration focusing on creating in-hospital digital health services and solutions.
“We’re leveraging our technology strengths and experience to bring new solutions to the healthcare market and enable people to have greater access to services through devices they use every day,” said Sokwoo Rhee, corporate senior vice president at LG Electronics leading the company’s North American innovation segment, in a statement. “Building on the expansive capabilities of Amwell’s digital healthcare platform, we’re looking forward to transforming the way people envision their healthcare, making care more accessible, simpler to navigate and more affordable—benefiting patients and providers alike.”
Announced last April, Converge puts all of Amwell’s products and programs as well as third-party applications on a single platform for easy patient and provider access.
About 10% of Amwell’s visits occurred through Converge during the fourth quarter of 2021, Schoenberg told investors during a call about the company’s fourth-quarter earnings.
The telehealth player is working to transition more of its health system partners to the platform this year.
“As in-person, virtual and automated modalities converge to create significantly improved healthcare experiences, unlocking the last mile for patients and providers to easily connect to these services is more important than ever,” said Ido Schoenberg, Amwell chairman and CEO, about the partnership with LG. “We are proud to partner with LG, a company that is known for powering extraordinary user experiences. Together, we are determined to offer providers and patients streamlined interactions from wherever they are, allowing providers to deliver advanced, digitally-enabled care.”
Amwell also rolled out a TV solution last year in collaboration with Solaborate, which offers in-home care capabilities powered by artificial intelligence.
The telehealth company picked up two digital health startups last July for a total $320 million to expand its reach beyond traditional telehealth visits.
The additions of virtual mental health platform SilverCloud Health and automated virtual care company Conversa Health help diversify Amwell’s portfolio as new entrants flood into the health tech market.
The telehealth company’s stock has fallen more than 43% this year as of 2:10 p.m. ET on Tuesday.
Amwell went public in September 2020, raising $742 million with its outsized IPO.