- WELL announces the launch of WELL AI Decision Support, to
assist healthcare providers in improving early disease diagnosis
and preventative health.
- WELL is exclusively partnering with HEALWELL AI, a leader
in AI enabled disease diagnosis to power its solutions both in
Canada and the US.
- WELL's goal is to make AI Enabled Decision Support a core
offering to all physicians supported by its fully managed and SaaS
platforms which collectively power more than 31,000 physicians and
other care providers across Canada
and the US.
- Since October 1,
2023, HEALWELL AI has closed $18
million in financing including a $10
million convertible debenture round lead by WELL Health, who
is now the largest equity shareholder of HEALWELL AI, on an as
converted basis.
VANCOUVER, BC and TORONTO, Oct. 18,
2023 /PRNewswire/ - WELL Health Technologies
Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL") a digital health
company focused on tech-enabling healthcare providers, and its
investee company, HEALWELL AI (TSX: AIDX) ("HEALWELL"), are
pleased to announce the launch of "WELL AI Decision
Support", a groundbreaking new service for healthcare
providers. This partnership is the first major collaborative
initiative between the two companies since the announcement of the
Strategic Alliance Agreement on October 3,
2023. Both companies view this as the beginning of a
long-term, mutually beneficial partnership, with a shared vision
and commitment to ongoing innovation.
Hamed Shahbazi, Founder and CEO
of WELL commented, "We firmly believe the physician experience of
the not-too-distant future will involve a number of safe, secure
and helpful digital diagnostic tools that will better support
healthcare providers in detecting acute and chronic diseases
earlier. The launch of 'WELL AI Decision Support' perfectly
aligns with our core strategy to empower healthcare providers with
transformative technology, enhancing their capacity to improve
patient outcomes and promote preventative health."
Dr. Michael Frankel, Chief
Medical Officer of WELL, added, "The arrival of 'WELL AI Decision
Support' marks more than just technological advancement; it's a
watershed moment in our pursuit of superior patient care. By
harnessing AI's potential, we are equipping healthcare
professionals with tools that refine and elevate their practice.
Each patient deserves individualized attention and precision in
care, and this module is a step forward in realizing that
vision."
Dr. Alexander Dobranowski, CEO of
HEALWELL AI, said, " Our partnership with WELL is a strategic
imperative in healthcare. The alignment between HEALWELL's
pioneering data science and WELL's expansive clinical network
underscores the strength of our collaboration. Together, with
WELL's robust healthcare software solutions, we are creating a
synergy poised to redefine healthcare standards. This partnership
amplifies our combined commitment to leveraging data science for
healthcare applications, ultimately benefiting patients and
healthcare providers alike."
The 'WELL AI Decision Support' module is a groundbreaking
solution that bridges a critical gap in healthcare diagnostics and
patient care, heralding a new era of precision in healthcare
delivery. WELL AI Decision Support leverages artificial
intelligence (AI) technologies to enable the earlier diagnosis,
treatment and improved quality of life for the patient. The
technology behind WELL AI Decision Support has been meticulously
developed by HEALWELL, in close collaboration with dedicated
physicians, leading researchers, data privacy professionals,
pharmaceutical companies, and other domain experts. This rigorous
process of development and refinement has led to its validation in
both Canadian and U.S. healthcare systems. WELL AI Decision Support
is also a highly modular service that will be expanded with
time. Initially, the service enables healthcare providers to
accurately identify over 110 complex or rare diseases often
overlooked by traditional methods, providing hope to thousands of
patients across Canada.
'WELL AI Decision Support' is the second significant product
release under the WELLHealth.ai program, following the successful
"WELL AI Voice" module, and further exemplifies WELL's unwavering
commitment and leadership in delivering effective AI solutions in
healthcare. WELL AI Decision Support is featured on apps.health,
WELL's premium digital marketplace for EMR tools and
applications.
Rare and complex diseases affect over 300 million patients
worldwide, and in Canada, 1 in 12
individuals lives with a rare disorder. What's even more alarming
is the substantial number of people who remain undiagnosed and
unaware of their underlying conditions. For those who do exhibit
symptoms, the journey to a correct diagnosis is an arduous one. On
average, they consult 8 physicians, endure 2-3 misdiagnoses over a
span of 4.8yrs before receiving an accurate diagnosis.
This partnership represents a significant win for HEALWELL,
granting expansive channel access to healthcare providers. The
launch of 'WELL AI Decision Support' module underscores the trust
and validation of HEALWELL's expertise within the industry. Both
WELL and HEALWELL plan to continue to collaborate to combine their
expertise and capabilities for more groundbreaking developments in
the future.
For detailed insights into WELL AI Decision Support, please
visit https://decisionsupport.wellhealth.ai/.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies
Corp.
WELL's mission is to tech-enable healthcare providers. We do
this by developing the best technologies, services, and support
available, which ensures healthcare providers are empowered to
positively impact patient outcomes. WELL's comprehensive healthcare
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 31,000
healthcare providers between the US and Canada and power the largest owned and
operated healthcare ecosystem in Canada with more than 148 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". To learn
more about WELL, please visit: www.well.company.
About HEALWELL AI Inc.
HEALWELL AI 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. As a physician-led organization with a proven
management team of experienced executives, HEALWELL AI is executing
a strategy centered around developing and acquiring technology and
clinical sciences capabilities that complement the company's road
map. HEALWELL AI is publicly traded on the Toronto Stock Exchange
under the symbol AIDX. To learn more about HEALWELL AI, please
visit: https://healwell.ai/.
Forward-Looking
Statements
This news release may contain "Forward-Looking Information"
within the meaning of applicable Canadian securities laws,
including, without limitation: information regarding WELL and
HEALWELL's goals, strategies, and growth plans, including plans to
collaborate and deploy new AI technologies; future voting rights
and control, and expectations regarding revenue and EBITDA.
Forward-Looking Information are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business,
economic, and competitive uncertainties and contingencies.
Forward-Looking Information generally can be identified by the use
of forward-looking words such as "may", "should", "will", "could",
"intend", "estimate", "plan", "anticipate", "expect", "believe" or
"continue", or the negative thereof or similar variations.
Forward-Looking Information involves known and unknown risks,
uncertainties, and other factors that may cause future results,
performance, or achievements to be materially different from the
estimated future results, performance, or achievements expressed or
implied by the Forward-Looking Information and the Forward-Looking
Information are not guarantees of future performance. WELL's
comments expressed or implied by such Forward-Looking Information
are subject to a number of risks, uncertainties, and conditions,
many of which are outside of WELL's control, and undue reliance
should not be placed on such information. Forward-Looking
Information are qualified in their entirety by inherent risks and
uncertainties, including: direct and indirect material adverse
effects from the COVID-19 pandemic; adverse market conditions;
risks inherent in the primary healthcare sector in general;
regulatory and legislative changes; that future results may vary
from historical results; that market competition may affect the
business, results, and financial condition of WELL and other risk
factors identified in documents filed by WELL under its profile at
www.sedarplus.ca, including its most recent Annual Information
Form. Except as required by securities law, WELL does not assume
any obligation to update or revise any forward-looking information,
whether as a result of new information, events or otherwise.
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SOURCE WELL Health Technologies Corp.