Amwell Appoints New CFO to Drive Growth and Efficiency

Amwell Welcomes Mark Hirschhorn as Chief Financial Officer

Amwell (NYSE: AMWL), a forerunner in digital healthcare solutions, has announced the appointment of Mark Hirschhorn as its new Chief Financial Officer (CFO), effective immediately. This strategic change follows the tenure of Robert “Bob” Shepardson, who has adeptly led the financial team since 2021. Hirschhorn will be responsible for overseeing the entire financial operation of Amwell. This includes enterprise-wide optimization and the guidance of capital allocation initiatives, all aimed at fostering sustainable growth and maximizing shareholder value.

Background and Experience

With over 30 years of expertise in the healthcare technology sector, Hirschhorn's leadership record is impressive. He has held senior executive roles in both public and private enterprises, illuminating the path for successful financial management and strategic operations. Most recently, he served as the CEO of TapestryHealth, where he was instrumental in scaling the company's revenue and enhancing profitability. Before that, his impactful seven-year tenure at Teladoc Health saw him take on pivotal roles as CFO and COO. Furthermore, his work at Talkspace illustrated his capability in driving growth and positioning the company strategically within the industry.

A Vision for the Future

Hirschhorn’s appointment signifies a crucial evolution for Amwell. Ido Schoenberg, M.D., chairman and CEO, expressed confidence in Hirschhorn’s capability to navigate this transition from a period emphasizing intense research and development towards a robust operational model focused on efficiency, cash flow optimization, and profitable growth. “Mark’s extensive experience covers critical areas such as corporate finance and operations, making him an ideal fit for our leadership team,” Schoenberg remarked.

The Commitment to Stakeholders

Hirschhorn shares a deep commitment to Amwell’s mission of delivering high-quality healthcare through digital solutions. He stated, “Joining Amwell is an exciting opportunity to work alongside a talented team engaged in a meaningful mission. I fully support the leadership’s vision on strategies aimed at bolstering the business and enhancing shareholder value.” His insight and dedication promise to propel Amwell towards its long-term objectives.

Gratitude for Previous Leadership

Schoenberg also acknowledged Bob Shepardson's valuable contributions during a pivotal time for the company, especially post-IPO and throughout the critical re-platforming period. His efforts set a strong precedent for Amwell’s journey to profitable growth, aligning the company’s cost structure effectively. Shepardson's leadership was essential in positioning Amwell favorably within the rapidly evolving healthcare landscape.

About Amwell

As a trailblazer in hybrid care delivery, Amwell connects providers, payers, and patients worldwide, striving to enhance access to high-quality care while maintaining affordability. With a foundation built over two decades, Amwell’s comprehensive platform caters to various digital health needs, including urgent, acute, and post-acute care, chronic care management, and initiatives promoting healthy living. The company serves more than 50 health plans, representing over 100 million covered lives across the U.S. and beyond.

Frequently Asked Questions

Who is Amwell's new Chief Financial Officer?

Mark Hirschhorn has been appointed as the new CFO of Amwell.

What are Mark Hirschhorn's previous roles?

Hirschhorn held key positions at TapestryHealth, Teladoc Health, and Talkspace prior to joining Amwell.

What is Amwell's focus with the new CFO?

The focus is on enhancing financial operations, optimizing cash flow, and driving profitable growth.

How does Amwell serve its clients?

Amwell provides a digital healthcare platform that connects various stakeholders to improve care access and quality.

What does Mark Hirschhorn say about joining Amwell?

Hirschhorn expressed excitement about contributing to Amwell's mission and aligning with its leadership on strategic goals.

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