Weight Watchers International Inc (NASDAQ:WW) Q2 2022 Earnings Conference Call - Final Transcript
Aug 04, 2020 • 05:00 pm ET
Nicholas P. Hotchkin
wellness perk to being a powerful partner in health by working with organizations to help their populations lose weight, stay healthy and prevent chronic conditions. We see a significantly larger opportunity in the years to come to greatly accelerate growth and reach a significantly larger universe of consumers. In the UK, WW is now a key partner with Public Health England for its better health campaign to help people lose weight, get active and eat better. Last week, Public Health England launched this adult health campaign to seize the opportunity for a national reset moment of health. It follows research that shows that nearly two-third of adults in the UK are overweight or living with obesity. Among the initiatives under Public Health England's plan is the expansion of weight management services under the NHS to provide more people with the support they need to lose weight. And in the US last week, we announced that WW Health Solutions has been added as a new wellness and weight management solution to CVS Health's Point Solutions Management offering, which serves millions. Joining the Point Solutions Management platform will enable employers that use CVS Caremark for pharmacy benefits management to access WW Health solutions with simplified contracting, preferred pricing and streamlined eligibility and billing processes. The new offering makes it easier for plan sponsors to add WW Health solutions to their benefit packages. Through the collaboration, plan sponsors can offer their members WW digital offerings, which are accessible virtually anywhere to meet members where they are, helping them along their weight loss and wellness journeys. Spurred by the COVID crisis, employers will need to take on a greater role in advancing employee health and wellness. In addition, people are seeking out more virtual options. I've personally spoken with many health care providers recently, and they've said patients often now prefer for consultations to be done virtually. We are truly seeing a dramatic shift in consumer preferences and one that I believe is here to stay. We are confident that we are focused on the right actions not only to best serve our members today, but to position WW as a leader in delivering human impact through technology. We know that good health and community are essential and having the tools to better manage your health should not be considered a luxury, but a necessity. We are focused on making WW accessible and relatable to more people than ever before, broadening our reach, offering WW in new format and creating new and engaging experiences that help members along their wellness journey. Thank you for joining us on the call today. And with that, we will now turn the call to the operator for Q&A.