Who Owns amwell Company?

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Who Owns Amwell?

Amwell's ownership structure is key to understanding its strategy in the telehealth market. Following its September 2020 IPO, the company's ownership expanded significantly. Founded in 2006 as American Well, the company is now a major hybrid care enablement platform.

As of December 31, 2024, Amwell served approximately 55 health plans and over 100 health systems. Its ownership is a mix of founders, institutional investors, and public shareholders, influencing its direction.

Who owns Amwell?

Amwell was established in June 2006 by brothers Dr. Ido Schoenberg and Dr. Roy Schoenberg. Both founders had prior experience in healthcare technology, with Ido co-founding a medical software company and Roy founding a healthcare management software firm. Their shared vision was to improve healthcare access by enabling remote patient consultations.

Founding Vision

The Schoenberg brothers aimed to leverage technology to make healthcare more accessible. Their goal was to allow providers to connect with patients regardless of geographical barriers.

Entrepreneurial Background

Before Amwell, both founders had successful ventures in the healthcare IT sector. This experience provided a strong foundation for developing their telehealth platform.

Early Funding Rounds

Amwell secured significant early funding, starting with a $10 million Series A in 2009 and growing to $37 million by 2012. This capital was crucial for platform development.

Key Early Investors

Major entities like Anthem, Philips, Allianz, and Teva Pharmaceuticals were among the early strategic investors. These partnerships provided substantial capital and industry support.

Post-IPO Voting Power

Following its public offering, the Schoenberg brothers retained significant control through Class B shares. These shares granted them 51% of the company's voting power.

Strategic Investment at IPO

At the time of its IPO in 2020, Google made a substantial $100 million investment. This investment was in Class C shares through a concurrent private placement.

The initial ownership structure of Amwell was heavily influenced by its founders, Dr. Ido Schoenberg and Dr. Roy Schoenberg, who established the company in 2006 with a clear mission to enhance healthcare accessibility through technology. While specific equity splits at inception are not publicly disclosed, the brothers maintained substantial control post-IPO. Their Class B shares provided them with 51% of the company's voting power, underscoring their continued influence on the company's direction. Early financial backing was critical, with the company raising $10 million in Series A funding in 2009, which grew to $37 million by 2012. Key early investors included prominent names such as Anthem, Philips, Allianz, and Teva Pharmaceuticals, who collectively invested over $500 million prior to the company's public offering. Furthermore, Google participated with a significant $100 million investment in Class C shares during a private placement concurrent with the IPO in 2020. These foundational investments and the founders' retained voting control were instrumental in shaping Amwell's early growth and strategic trajectory, impacting its overall Amwell ownership and Amwell company structure.

Founders and Early Stakeholders

The Schoenberg brothers, Dr. Ido Schoenberg and Dr. Roy Schoenberg, are the primary founders of Amwell. Their early vision and strategic decisions laid the groundwork for the company's expansion in the telehealth market. Understanding their role is key to grasping Amwell company history ownership.

• Founders: Dr. Ido Schoenberg and Dr. Roy Schoenberg
• Early Strategic Investors: Anthem, Philips, Allianz, Teva Pharmaceuticals
• Significant IPO-Era Investor: Google
• Founders' Voting Control: 51% of voting power via Class B shares
• Amwell is publicly traded, impacting Amwell stock ownership

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Amwell's ownership structure saw a significant shift with its initial public offering (IPO) on September 17, 2020. The company successfully raised approximately $742 million by selling 41,222,222 shares of Class A common stock at $18.00 per share, listing on the New York Stock Exchange under the ticker 'AMWL'.

As of August 19, 2025, institutional investors hold 36.38% of Amwell's shares, with notable holdings from Senvest Management, LLC (8.13%), Morgan Stanley (7.66%), and Caledonia (Private) Investments Pty Ltd (5.01%). Vanguard Group Inc. and BlackRock, Inc. are also significant institutional stakeholders. Insider ownership remains substantial, with Keith Anderson, the largest individual shareholder, owning 10.58% and co-founder Ido Schoenberg holding approximately 4.8%. This distribution highlights a blend of institutional confidence and continued strong insider influence in the company's structure.

Key Stakeholders in Amwell's Ownership

Understanding Amwell's ownership is crucial for assessing its strategic direction and market position. The company's structure reflects a balance between institutional investment and insider control.

• Institutional investors collectively own 36.38% as of August 2025.
• Insiders maintain a significant stake at 58.08%.
• Keith Anderson is the largest individual insider shareholder with 10.58%.
• The IPO in September 2020 marked a pivotal moment in Amwell's corporate ownership details.
• Exploring the Marketing Strategy of amwell can provide further context on how these stakeholders influence operations.

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The board of directors for Amwell is comprised of a blend of its founders, key executives, and independent members, all tasked with providing strategic direction and oversight. Dr. Ido Schoenberg holds the dual roles of Chairman and Chief Executive Officer, while his brother, Dr. Roy Schoenberg, serves as Executive Vice Chairman. The board also includes Ricky Goldwasser, Deborah Jackson, Derek Ross, Stephen Schlegel, Peter L. Slavin, Robert Webb, and Toby Cosgrove, with many of these individuals functioning as independent directors.

Amwell's voting power is structured through a multi-class common stock system, including Class A, Class B, and Class C shares. This structure significantly influences control, with the founders, Drs. Ido and Roy Schoenberg, holding 51% of the total voting power through their Class B shares following the company's initial public offering. This dual-class arrangement allows the founders to maintain substantial influence over critical corporate decisions, irrespective of potential dilution in their economic ownership through subsequent public offerings or investments. While there have been no publicly reported proxy battles or activist investor campaigns, this concentration of voting power is a key aspect of Amwell's corporate governance. Understanding the Growth Strategy of amwell also involves recognizing how this ownership structure shapes strategic decisions.

Amwell's Voting Power Dynamics

The voting power at Amwell is concentrated due to its multi-class share structure. This allows founders to retain significant control over corporate decisions.

• Class B shares grant founders outsized voting rights.
• Founders collectively hold 51% of voting power.
• Dual-class structure impacts corporate decision-making.
• This structure is common for companies seeking founder control post-IPO.

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In recent years, Amwell has undergone significant strategic shifts, impacting its operational focus and leadership. These changes reflect the evolving landscape of the telehealth industry and the company's efforts to adapt and grow. Understanding these developments is key to grasping the current Amwell ownership and company structure.

Amwell's journey over the past few years has been characterized by strategic acquisitions and divestitures, aimed at refining its market position and operational efficiency. The acquisition of SilverCloud and Conversa in 2021 broadened its service portfolio, particularly in behavioral health and AI-driven patient engagement. More recently, the 2024 divestiture of its telepsychiatry business to Avel eCare, LLC, signals a strategic pivot towards its core Converge platform. This move is designed to concentrate resources and expertise on its integrated telehealth solution. The leadership transition in June 2024, with Ido Schoenberg assuming the sole CEO role, also marks a significant point in the company's governance and strategic planning, influencing Amwell company structure and future direction.

Strategic Acquisitions

In 2021, Amwell bolstered its capabilities by acquiring SilverCloud and Conversa for a combined $320 million, enhancing its telehealth offerings.

Divestiture for Focus

The company divested its telepsychiatry services in 2024 to Avel eCare, LLC, for $20.7 million, to concentrate on its Converge platform.

Leadership Evolution

A leadership change occurred in June 2024, with Ido Schoenberg becoming the sole CEO, following Roy Schoenberg's transition to Executive Vice Chairman.

Financial Outlook

Amwell projects revenue between $245 million and $250 million for 2025, with an adjusted EBITDA loss of ($45) million to ($55) million, targeting positive cash flow by 2026.

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