- WELL Ventures is pleased to report that its portfolio companies
continue to raise funds at attractive valuations with high quality
capital allocators globally.
- Sun Life has invested $9.5
million in Pillway, a move that reinforces the value of
Pillway's digital pharmacy platform within Sun Life's benefits
management program.
- WELL Ventures has completed a new investment in ORX AI, a
company that is leveraging advanced AI to optimize operating room
efficiencies and streamline healthcare revenue management.
- WELL Ventures, investee doctorly GmbH, the only VC-backed
startup in Germany authorized to
sell practice management software, has attracted a new round of
funding of €6.7M in Series A Extension. The Round was led by
Dusseldorf based Simon Capital and
included participation from Geschwister Oetker Beteiligungen KG,
UNIQA Ventures and WELL's investee HEALWELL AI (TSX: AIDX).
VANCOUVER, BC and TORONTO, Nov. 30,
2023 /CNW/ - WELL Health Technologies Corp. (TSX:
WELL) (OTCQX: WHTCF) ("WELL" or the "Company"), a
digital health company focused on positively impacting health
outcomes by leveraging technology to empower healthcare providers
and their patients globally, is pleased to announce series of
strategic investment developments that highlight its leadership in
fostering innovation within the digital health technology
sphere.
Hamed Shahbazi, Founder and CEO
of WELL, stated, "We are very pleased to announce our new
investment in ORX AI and see our WELL Venture portfolio companies
Pillway and doctorly continue to raise capital with exceptional
partners in this difficult funding environment. We believe this is
a testament to the quality of companies and operators that are at
the heart of WELL's investment program and our rigorous approach in
due diligence and post transaction execution.
Amir Javidan, COO of WELL, added,
"We also continue to be committed to intentionally aligning
ourselves with the success of our investees by establishing
thoughtful commercial partnering agreements in addition to our
allocation of capital. This approach is working and elevating the
value of our investments while delivering real operational value to
both WELL and our investee partners."
Sun Life Investment Elevates Pillway's Market
Position
Earlier this week, Sun Life announced a strategic investment of
$9.5 million in Simpill Health Inc.
("Pillway"). This investment follows Sun Life's launch of
the Lumino Health™ Pharmacy app provided by Pillway in June 2023 to Sun Life Group Benefits Clients in
Canada. The app currently offers
the following features: access to live pharmacist support through
chat or phone, prompt medication delivery within Canada, personalized medication pre-packaging,
as well as convenient adherence tracking, refill & renewal
management, and notifications via the app.
Pillway's digital pharmacy platform is now a key component of
Sun Life's benefits management program. The platform's seamless
integration into Sun Life's offerings demonstrate the tangible
impact of Pillway's technology on improving the management and
delivery of health benefits. Through this partnership, Pillway's
digital platform is expected to enhance the user experience for Sun
Life's clientele, reflecting WELL's continued investment in
solutions that contribute to better patient care and efficient
provider service.
WELL Ventures Announces Investment in ORX AI to Amplify AI
Program
WELL Ventures is pleased to announce its investment in ORX AI, a
leader in AI healthcare technology, under its AI Investment
Program. ORX AI's platform, Patient Compass transforms patient care
by offering a user-friendly virtual agent that works alongside
Electronic Medical Records (EMR) to allow patients to find care,
get care, and advance care with greater ease.
Patient Compass is designed to empower patients in their
healthcare journey, allowing them to manage and share their health
data between WELL's trusted AI products and providers. Patient
Compass unlocks crucial healthcare data for many use cases like
identifying rare diseases and updating care plans with the latest
medical insights.
WELL Ventures' investment in ORX AI is driven by WELL's
commitment to empowering healthcare providers, and grew from the
successful Digital Technology Supercluster project, Health Compass,
announced on January 13, 2023. This
collaboration highlighted each organization's shared commitment to
advancing healthcare technology. ORX AI stands out in the
healthcare technology landscape for its ability to harness
healthcare data for AI enablement to support providers in
world-class care and is a strategic move to support WELL's ongoing
deployment of WELL AI Decision Support through its exclusive
partnership with HEALWELL AI.
doctorly Secures Additional VC Funding From Consortium
Including HEALWELL AI
WELL Ventures investee doctorly GmbH ("doctorly"), has
attracted a new round of funding of €6.7M in Series A Extension.
The Round was led by Dusseldorf
based Simon Capital and included participation from Geschwister
Oetker Beteiligungen KG, UNIQA Ventures and WELL's affiliate
HEALWELL AI. This is a follow-on from the initial investment
announced in March 2023. The
investment underscores WELL's strategic focus on international
growth and innovation in healthcare technology. As the only venture
capital-backed startup in Germany
authorized to sell practice management software, doctorly is
uniquely positioned to transform the medical software landscape,
already proving to reduce administrative time for healthcare
providers.
This investment is poised to unlock the potential of patient EMR
data through a strategic partnership between WELL, HEALWELL AI, and
doctorly, aiming to tech-enable healthcare practitioners to improve
patient care. The funds will boost doctorly's expansion in
Germany, focusing on feature
development that helps minimize administrative costs, thereby
allowing healthcare professionals to dedicate more time to
patient-focused services.
WELL continues to strategically allocate capital and form
commercial partnering agreements with emerging tech firms, focusing
on fostering a health innovation ecosystem in Canada and beyond. Through a disciplined
investment process, WELL selectively backs opportunities that align
strategically and financially. This approach effectively nurtures
healthcare innovations from their development phase through to
their market launch, showcasing WELL's commitment to meaningful
partnerships with tech firms. By providing guidance and resources,
WELL not only accelerates these ventures but also reinforces its
role in cultivating a sustainable health innovation ecosystem,
further establishing itself as a leader in healthcare
technology.
For additional information about WELL Ventures, its portfolio
companies, and its AI investment program please visit
https://well.ventures/.
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 33,000
healthcare providers between the US and Canada, and power the largest owned and
operated healthcare 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 Toronto Stock Exchange under the symbol "WELL" and on the OTC
Exchange under the symbol "WHTCF". To learn more about the Company,
please visit: www.well.company.
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SOURCE WELL Health Technologies Corp.