Amwell jumps on health contract win for U.S. military

AMERICAN WELL

20/10/2023 13:48

** Shares of Amwell  AMWL.N  up 19% at $1.13 premarket after
telehealth firm announced late Thurs announced it, along with
Leidos  LDOS.N , awarded contract for U.S. military
    ** Under the task order, Leidos Partnership for Defense
Health (LPDH) will deliver Amwell Converge platform to deliver
hybrid care and replace Military Health System Video Connect
solution
    ** It will start at five initial sites followed by phased
enterprise roll-out, co said; if all options exercised task
order has 22-month performance period with total value of up to
$180 mln
    ** AMWL shares on Thurs fell 7.5% to $0.94, marking record
low close. YTD, stock has shed 67%
    ** LDOS shares have yet to trade before the bell. Stock on
Thurs closed at $93.41, down 11% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))