Telehealth company Amwell (NYSE: AMWL), officially known as American Well Corp., has reported a notable boost in subscription revenue after integrating behavioral health provider SilverCloud and health automation tool Conversa Health into its platform. These acquisitions highlight the growing demand for mental health services and showcase the potential of virtual therapy platforms to expand access to care for patients and health systems alike.
SilverCloud and Conversa Health: Strengthening the Converge Platform
In August 2021, Amwell acquired SilverCloud for $226.2 million and Conversa Health for $118.6 million. Both now operate as part of Amwell’s Converge platform, a unified architecture that combines technology and service offerings into a seamless digital health ecosystem.
By integrating SilverCloud and Conversa, Amwell has enhanced its ability to deliver scalable and efficient behavioral health solutions. Schoenberg, Amwell’s CEO, emphasized that SilverCloud exemplifies “the Amwell way.” The Converge system allows providers to focus on clinical care while digital tools handle administrative and routine tasks, maximizing the effectiveness of virtual therapy platforms.
SilverCloud’s Hybrid Approach to Mental Health
Founded in 2012 in Ireland, SilverCloud offers a hybrid model for mental health care that sets it apart from many other virtual therapy platforms. Unlike services that rely solely on self-guided content or traditional telehealth sessions, SilverCloud combines CBT modules with brief therapist check-ins.
Patients engage with digital CBT programs online while therapists provide approximately 10-minute check-ins to clarify questions, provide motivation, and guide progress. According to SilverCloud co-founder Dr. John Sharry, “It takes the same amount of therapist time to meet on a screen or face-to-face. SilverCloud proposes another modality.”
Amwell leverages this approach to deliver more care at a lower cost, empowering existing therapists to operate efficiently through automation — a key advantage over traditional virtual therapy platforms.
Market Opportunity for Telebehavioral Health
Amwell sees substantial potential in behavioral health. The telepsychiatry market alone represents a $3.9 billion opportunity, while the broader U.S. behavioral health market is valued at $29 billion. Globally, the market could reach $52 billion.
By integrating SilverCloud into Converge, Amwell can scale mental health services and address the unmet demand for high-quality care. The company’s strategy demonstrates how virtual therapy platforms can be a central part of a broader digital health solution for providers and health plans.
Enhancing Patient Care with Automation and Integration
One of Amwell’s strengths is the ability to integrate third-party digital tools into telehealth visits via Converge. Clients can deploy text-based CBT, digital assessments, and other condition-specific programs to enhance the patient experience. This makes care more accessible and efficient, a core advantage of virtual therapy platforms compared to traditional therapy models.
Health plans often begin with virtual primary care or behavioral health services, then expand to other condition-specific programs as they become more integrated into Converge. This layered approach drives subscription growth while offering a more comprehensive digital health experience.
International Expansion and Global Reach
SilverCloud also provides Amwell with a pathway to international markets. The platform has contracts with the UK’s National Health Service, as well as programs in Australia and other European countries. By expanding globally, Amwell leverages the strength of virtual therapy platforms to provide scalable care while learning from diverse healthcare systems.
Schoenberg emphasized that demand for behavioral health enablement and efficiency remains strong, predicting that this component of Converge will continue to grow as the platform is deployed.
Financial Performance and Strategic Outlook
Amwell’s 2022 revenue reached $277.2 million, a roughly 10% increase from the previous year. Subscription revenue increased 12%, while per-visit revenue rose 7%. Despite these gains, adjusted losses deepened by 43% to $175.3 million.
The company’s focus on behavioral health is clear, but Schoenberg did not comment on potential acquisitions like Talkspace, a virtual behavioral health provider that has recently shifted toward a B2B model. The ongoing integration of SilverCloud and Conversa, however, illustrates Amwell’s commitment to building virtual therapy platforms that can serve enterprise clients and individual patients alike.
The Future of Amwell and Digital Behavioral Health
Amwell’s strategic focus on behavioral health highlights the power of virtual therapy platforms to deliver effective, scalable, and cost-efficient care. By combining hybrid care models, automation, and integrated technology, Amwell empowers therapists, improves patient outcomes, and expands access to care.
With 1,400 active behavioral health providers and a growing international footprint, Amwell is positioned to capture a significant portion of the U.S. and global behavioral health markets. As virtual therapy platforms continue to evolve, Amwell’s Converge ecosystem may serve as a blueprint for how telehealth companies can combine innovation, efficiency, and global scalability in mental health care.
