According to foreign media reports,Google's cloud division is investing $100 million in AMWELL, formerly American well, a company that develops technology for virtual doctors.The company has filed for listing, while Google's investment will be privately placed at the IPO price. As part of the partnership, AMWELL will move some of the business it currently uses from Amazon Web services (AWS) to Google cloud.
AMWELL will choose Google cloud as its preferred global cloud partner and will also transfer some video performance to the platform, the two companies said in a press release. The two companies will also work together on technology and, as a result, carry out special sales work to expand AMWELL's influence in this field.
All the big tech companies are scrambling to sign up for healthcare customers, including insurance and hospitals, as they slowly move from local systems to the cloud.
Aashima Gupta, director of global healthcare solutions at Google cloud, said she would like to see continued use of telemedicine. Recently, due to the popularity of the new crown, more and more people avoid going to hospitals and clinics for face-to-face medical help, which makes the use of virtual medical tools soar. Gupta said the two companies plan to add more machine learning capabilities to the service in the future.
AMWELL said in an interview with CNBC in May that the number of visitors to its service has increased by 1000% due to the infection of the new coronavirus, and in some places it has even been close to 3000% to 4000%. Revenue for the first six months of 2020 rose 77% year-on-year, from $69 million to $122 million, according to the IPO filing. But the company's net loss almost tripled over the same period, from $41 million in the first half of 2019 to $111 million in the first half of this year. Meanwhile, amewll faces fierce competition from livongo and teladoc, which recently merged for $18.5 billion. With the addition of livongo, teladoc is now selling an expanded set of services, including tools for monitoring patients with chronic diseases such as diabetes and hypertension.
Gu Geyun's largest clients in the $3.5 trillion medical field include medical systems such as Mayo Clinic and ascension. Some of these customers also use AMWELL for telemedicine services.
AMWELL currently works with about 2000 hospitals, 55 medical plans and 36000 employers.