11:38:42 EDT Sat 18 May 2024
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Well Health Technologies Corp
Symbol WELL
Shares Issued 242,831,580
Close 2024-05-01 C$ 3.61
Market Cap C$ 876,622,004
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Well Health, Healwell release second-generation WAIDS

2024-05-02 11:25 ET - News Release

Also News Release (C-AIDX) Healwell AI Inc

Mr. Hamed Shahbazi of Well Health reports

WELL LAUNCHES ITS SECOND-GENERATION AI POWERED PHYSICIAN CO-PILOT WITH CHRONIC DISEASE DETECTION POWERED BY HEALWELL AI

Well Health Technologies Corp. and its investee company, Healwell AI Inc., have launched the second-generation Well AI Decision Support (or WAIDS). This enhanced version, which features advanced chronic disease screening, arrives just six months after the initial launch, which was primarily focused on rare disease detection.

The upgraded WAIDS now includes screening capabilities for numerous chronic diseases such as chronic kidney disease, hypertension and diabetes, enabling risk stratification of patients into high-, medium- or low-risk categories. This expansion broadens WAIDS's utility in detecting more than 100 rare and chronic diseases, providing clinically validated insights that identify care gaps and equip clinicians with actionable information at the point of care.

Dr. Michael Frankel, chief medical officer of Well, commented on the new capabilities: "Adding chronic disease detection is a game changer for our AI-powered physician co-pilot tools. I have personally used this tool in my practice and found it to be of tremendous help and support. The tool compliantly scans my data and provides me with an overview of a number of key diseases as well as insights on which patients could be at higher risk or exposure to such diseases."

The technology behind WAIDS is powered by Healwell AI which has been helping physicians save lives for the past four years with its best-in-class rare disease detection capabilities. This launch represents another significant step forward in Well and Healwell's continuing collaboration to transform health care through data science and innovative technology.

"Healwell is committed to continuously advancing its data science offerings, and with WAIDS, we aim to serve as a vital co-pilot in the medical community," said Dr. Alexander Dobranowski, chief executive officer of Healwell. "The second generation of WAIDS is designed to enhance and support the critical decision-making processes of doctors, ensuring they remain central to patient care. Historically, Healwell's focus has been on screening for rare and ultrarare diseases, but now with the second-generation WAIDS we have significantly expanded our capabilities to finding patients with important chronic diseases. This adds tremendous value to patients, practitioners and health care systems."

According to a Statistic's Canada report in 2023 on the health of Canadians, 45.1 per cent of Canadians lived with at least one major chronic disease in 2021. Chronic diseases and the percentage of Canadians who have them include conditions like diabetes (11 per cent), chronic obstructive pulmonary disease (10 per cent), heart disease (8 per cent) and chronic kidney disease (11 to 13 per cent). These conditions are also not found alone and increasingly more and more Canadians are being found to have a plurality of these morbidities3. Chronic diseases and related health issues are estimated to cost the Canadian economy $190-billion annually, with $122-billion stemming from indirect income and productivity losses, and $68-billion in direct health care costs.

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-office 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.

About Healwell AI Inc.

Healwell is a health care technology company focused on artificial intelligence 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.

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