Mr. Hamed Shahbazi reports

WELL VENTURES LAUNCHES THE WELL AI INVESTMENT PROGRAM

Well Ventures, a subsidiary of Well Health Technologies Corp., has launched a new investment program, the Well AI investment program, focused on artificial intelligence (AI) and its applications in helping support health care providers with next-generation tools.

The Well AI investment program will focus on early-stage AI companies that demonstrate promising innovation, and a clear focus on using AI technologies that can help health care providers with innovative tools or applications designed to improve their efficiency, accuracy and, ultimately, help them deliver better patient outcomes. Data protection and cybersecurity applications will also be considered as this is a key part of Well's practitioner enablement platform.

"The prevalence of AI technology in health care will usher in perhaps the most transformational technologies we've ever seen in terms of supplying and supporting health care providers with tools that help improve the accuracy, efficiency and pro-activity of care while also delivering significantly better patient outcomes," said Hamed Shahbazi, founder and chief executive officer of Well Health Technologies. "Well wants to ensure that it is at the forefront of this movement, not just as a developer and user of AI, but also as a partner to other innovative companies seeking to advance the health technology industry. What makes the Well AI investment program unique, besides being the first health-care-centric AI investment program in Canada, is that Well is not just looking to provide capital but also leverage its own products, distribution, and significant size and scale to help advance the proliferation of the best AI-inspired, health-focused technologies."

The Well AI investment program will provide investees with capital as well as extensive support from Well's ecosystem to help develop, test, refine, secure, derisk and integrate the most promising such technologies into the Canadian health care ecosystem at scale. Additionally, Well will provide investees access to the over 23,000 care providers that make use of its apps.health ecosystem, operated by its provider solutions business unit.

In recognition of Well's long-standing work with Canada Health Infoway (Infoway), an independent, not-for-profit organization funded by the federal government, Infoway will collaborate with Well on advancing interoperability as part of the Well AI investment program in Canadian start-ups. Infoway will provide guidance on security, privacy, interoperability and other data standards. This partnership will ensure that resulting products and services meet pan-Canadian standards and can effectively serve the needs of providers and patients.

Well aims to achieve the following through the investment program:

• Make a minimum of 10 AI-related investments of at least $250,000 each in companies that are advancing health care applications and/or protecting data;
• Ensure that each investee has a strategic alliance agreement with Well that allows it to benefit from Well's health care ecosystem which includes:
  • Its apps.health ecosystem, which is Canada's only app marketplace for integrated EMR (electronic medical record) apps;
  • Access to the over 23,000 provider network supported by Well's digital and services tools and the over 2,800 providers working internally in Well's own patient services businesses.

Well Ventures is already fully financed for making these investments directly from Well's overall treasury position. While there is no defined timeline for these investments, it is Well's intention to make a number of these investments in 2023.

Well is a leader in tech-enabling Canadian health care, and through Well Ventures, Well has already placed numerous investments in early-stage companies focused on providing tools and enablement (including AI) for health care providers in Canada, the United States and abroad.

About Well Health Technologies Corp.

Well is a practitioner-focused digital health care company. Well's overarching mission is to positively impact health outcomes by leveraging technology to empower health care practitioners and their patients globally. Well exists to enable health care practitioners with best-in-class technology and services. Well has built the most comprehensive end-to-end health care system across Canada, including the nation's largest network of clinics supporting primary care, specialized care and diagnostics services. In the United States, Well provides omnichannel health care services and solutions targeting specialized markets such as the gastrointestinal market, women's health, primary care and mental disorders. In addition to providing patient services, Well develops, integrates and sells its own suite of technology software and solutions to medical clinics and health care practitioners. Well's practitioner enablement platform includes: electronic medical records (EMR), telehealth platforms, practice management, billing, revenue cycle management (RCM), digital health apps and data protection solutions.