04:38:05 EDT Sat 04 May 2024
Enter Symbol
or Name
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CA



Well Health Technologies Corp
Symbol WELL
Shares Issued 240,241,510
Close 2024-03-13 C$ 3.92
Market Cap C$ 941,746,719
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Healwell AI signs services agreements with Well Health

2024-03-14 10:40 ET - News Release

See News Release (C-AIDX) Healwell AI Inc

Dr. Alexander Dobranowski of Healwell reports

HEALWELL AI ANNOUNCES NEW COMMERCIAL AGREEMENTS WITH WELL HEALTH USA AND CIRCLE MEDICAL, BRINGING AI-BASED PREVENTATIVE CARE SOLUTIONS TO U.S. MARKET

Healwell AI Inc. has signed services agreements with each of Well Health USA and its affiliate Circle Medical Technologies Inc., a subsidiary of Well Health Technologies Corp., bringing artificial-intelligence-powered preventive care solutions to U.S. patients. Under the terms of the services agreements, Healwell will provide U.S. patients with access to its subsidiaries Pentavere Research Group Inc. and Khure Health Corp. for the purposes of earlier diagnosis and identification of patients with potential risk of certain conditions, identification of patient eligibility for approved medications or interventions, optimizing patient care pathways, and improving patient health outcomes.

Dr. Alexander Dobranowski, chief executive officer of Healwell, commented: "Since executing the strategic alliance agreement with Well, one of our primary strategic initiatives has been to expand our AI technology offerings and capabilities throughout the Well ecosystem. Enabling Well USA and Circle Medical providers is a demonstration of this commitment and a major step forward for Healwell into the U.S. market. Our partnerships with Well USA and Circle Medical allow for our AI technology and clinical decision support capabilities to now also replicate the success of using AI in the Canadian market into the U.S."

Well USA's CRH Medical, which has over 100 gastrointestinal-only (GI) sites of service, has identified data from approximately 200,000 patients across 21 states that can be analyzed, in a secure and compliant manner, using Pentavere's Darwen AI platform. The platform can enable high-quality, real-world data generation on the relationships between biologic prescribing, clinic-demographics and outcomes to support patients suffering from inflammatory bowel disease (IBD) and other gastrointestinal conditions. This information is expected to be used to enhance the understanding of how different factors, such as the type of medication prescribed and patient characteristics, relate to treatment outcomes. The partnership will ultimately help support suboptimally treated IBD disease patients in the United States, reducing health care costs and the burden on health care systems.

Jay Kreger, CEO of Well USA, commented: "By leveraging the Darwen AI technology platform, we can enable CRH Medical's GI partners to better utilize data that already exists and unlock knowledge buried in millions of pages of clinical information. We are committed to further supporting our physician partners by demonstrating how AI can help them better understand their patient populations, optimize the course of their treatment and ultimately improve their patient outcomes."

Healwell's Khure has also partnered with U.S.-based Circle Medical, a subsidiary of Well Health, to integrate its proprietary AI platform with Circle's electronic medical record (EMR) system, expanding its footprint into the U.S. Circle Medical currently provides virtual care services in over 30 states and has 23 physical locations across the U.S., representing access to over 75 per cent of the American population. Khure will be able to analyze Circle's large U.S. clinical data sets, using its proprietary machine learning algorithms to screen for and flag individual patients whom the health care practitioner might want to consider for further investigation for certain conditions and identifying those patients for early diagnosis of rare disease. Khure will also have the ability to screen for U.S. patient cohorts that may be candidates for clinical trial eligibility. Circle Medical is a leader in providing primary-based care in the U.S. and it is currently on a run-rate of delivering more than 700,000 patient visits per year and growing quickly.

George Favvas, CEO of Circle Medical, commented: "We are excited to partner with Khure and bring their AI solutions to the health care practitioners we support. Khure's AI technology fits with our internally developed AI tools and will be a valuable tool for our practitioners in early diagnosis of rare disease as the added layer of screening holds immense promise in identifying patients who may otherwise go undetected, ultimately saving lives."

About Healwell AI Inc.

Healwell is a health care technology company focused on AI and data science for preventive care. Its mission is to improve health care and save lives through early identification and detection of disease. Using its own proprietary technology, the company is developing and commercializing advanced clinical decision support systems that can help health care providers detect rare and chronic diseases, improve efficiency of their practice, and ultimately help improve patient health outcomes. Healwell is executing a strategy centred around developing and acquiring technology and clinical sciences capabilities that complement the company's road map. Healwell is publicly traded on the Toronto Stock Exchange (the TSX) under the symbol AIDX and on the OTC Exchange under the symbol HWAIF.

About Well Health Technologies Corp.

Well's mission is to tech-enable health care providers. It does this by developing the best technologies, services and support available, which ensures health care providers are empowered to positively impact patient outcomes. Well's comprehensive health care and digital platform includes extensive front- and back-office management software applications that help physicians run and secure their practices. Well's solutions enable more than 33,000 health care providers between the U.S. and Canada and power the largest owned and operated health care ecosystem in Canada with more than 150 clinics supporting primary care, specialized care and diagnostic services. In the United States, Well's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, mental health, revenue cycle management and practitioner recruiting. Well is publicly traded on the TSX under the symbol WELL and on the OTC Exchange under the symbol WHTCF.

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