22:51:32 EDT Wed 15 May 2024
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Well Health Technologies Corp
Symbol WELL
Shares Issued 242,831,580
Close 2024-04-29 C$ 3.60
Market Cap C$ 874,193,688
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Well Health talks digital health care with Microsoft

2024-04-30 11:27 ET - News Release

Mr. Hamed Shahbazi reports

WELL HEALTH TECHNOLOGIES ANNOUNCES COLLABORATION WITH MICROSOFT TO ACCELERATE HEALTHCARE'S DIGITAL TRANSFORMATION

Well Health Technologies Corp. is collaborating with Microsoft to accelerate health care's digital transformation. This five-year agreement is set to accelerate the digital transformation of health care delivery across North America and beyond, integrating Microsoft Cloud and artificial intelligence capabilities with Well's comprehensive digital health platform to innovate and enhance the health care experience for both providers and patients. A key focus will be to substantially elevate Well's scalability and flexibility as part of its offerings, especially as its organic growth accelerates and it aims to help large enterprise clients such as those in public sector.

Amir Javidan, chief operating officer who leads Well's platform solutions group, commented: "Our collaboration with Microsoft will enable us to accelerate our growth and innovation, vastly improve our scalability, reduce complexity and improve our cost profile for our cloud offerings over the long term. Microsoft will provide specialized support and services that will allow us to unify our infrastructure environments to a more homogeneous and advanced posture, bringing our digital health platform to new heights. We are honoured to partner with Microsoft, and eagerly anticipate the transformative impact our collaboration will have on health care delivery."

"Well's integration with Microsoft Azure will streamline operational efficiency and also bring advancements in patient care through our Azure AI platform," said Allison West Hughes, corporate vice-president, digital acquisition, at Microsoft. "Well shares our commitment to empowering health care practitioners with innovative solutions that redefine cost management, enhance data security and catalyze service innovation."

Focus areas of the collaboration include:

Modernizing and enhancing scalability:  The collaboration will focus significant time and resources to ensure that Well's cloud infrastructure is unified, modernized and positioned for significant growth and scale. To do this, Well will integrate Azure Database for MySQL, Azure SQL Managed Instances and Azure Databricks. This is very important at a time where Well's organic growth is accelerating, and it has embarked on significant large enterprise opportunities including public sector.

Cost optimization in health care:  This integration focuses on enhancing operational efficiencies. By doing so, it aims to minimize expenses while simultaneously increasing the quality and accessibility of care.

Data privacy and security assurance:  The collaboration is committed to extend Well's stringent data protection measures. This ensures the integrity and confidentiality of patient information through advanced security protocols.

Leading innovative health care solutions:  This collaboration establishes Microsoft as a go-to partner for Well Health as it continues to infuse leading generative artificial intelligence technologies into its various digital health solutions. Well is integrating Azure OpenAI Service to drive transformative change in how care is delivered, enabling tremendous efficiencies for providers and improving patient experiences.

Stu Coombes, vice-president of technology services at Well, commented: "By taking advantage of the robust foundation of Microsoft Azure and Azure OpenAI Service, Well is not only optimizing cloud hosting but also fortifying business continuity, empowering the integration of AI-driven health care technologies, and capitalizing on economies of scale. The technology teams who are working behind the scenes to drive this transformation are highly motivated by the collaboration with Microsoft and the associated support this collaboration brings. This signifies Well's unwavering commitment to advancing patient care, driving operational excellence and shaping the future of health care delivery."

Through this collaboration, Well is working toward a new era of health care solutions that are pro-active, personalized and secure, underscoring a deep commitment to improving health outcomes and the patient experience globally.

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 34,000 health care providers between the United States and Canada and power the largest owned and operated health care ecosystem in Canada with more than 165 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 and mental health. Well is publicly traded on the Toronto Stock Exchange under the symbol WELL and on the OTC Exchange under the symbol WHTCF.

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