TORONTO and ATLANTA and SAN FRANCISCO, March 14, 2024 (GLOBE NEWSWIRE) -- HEALWELL AI Inc. (“HEALWELL” or the “Company”) (TSX: AIDX, OTCQX: HWAIF), a healthcare technology company focused on AI and data science for preventative care, is pleased to announce the signing of services agreements with each of WELL Health USA (“WELL USA”) and its affiliate Circle Medical Technologies Inc. (“Circle Medical”), a subsidiary of WELL Health Technologies Corp. (“WELL”) (TSX: WELL), bringing artificial intelligence (“AI”) powered preventative 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. (“Pentavere”) and Khure Health Corporation (“Khure”) 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, CEO 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 HEAWELL into the US 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 US.”
WELL USA’s CRH Medical which has over 100 Gastrointestinal (GI) only 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 sub-optimally treated IBD disease patients in the US, reducing healthcare costs and the burden on healthcare 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 (TSX: WELL), to integrate its proprietary AI platform with Circle’s electronic medical record (EMR) system, expanding its footprint into the US. Circle Medical currently provides virtual care services in over 30 states and has 23 physical locations across the US, representing access to over 75% 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 US and it is currently on a run-rate of delivering more than 700,000 patient visits per year and growing quickly (1).
George Favvas, CEO of Circle Medical commented, “We are excited to partner with Khure and bring their AI solutions to the healthcare 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.”
(1) Circle Medical patient visits based on recent monthly patient visits annualized.
Dr. Alexander Dobranowski
Chief Executive Officer
HEALWELL AI Inc.
About HEALWELL
HEALWELL is a healthcare technology company focused on AI and data science for preventative care. Its mission is to improve healthcare 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 healthcare providers detect rare and chronic diseases, improve efficiency of their practice and ultimately help improve patient health outcomes. HEALWELL is executing a strategy centered 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”.
To learn more about HEALWELL, please visit https://healwell.ai/.
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 TSX under the symbol “WELL” and on the OTC Exchange under the symbol “WHTCF”.
To learn more about the Company, please visit: www.well.company.
Forward-Looking Statements
Certain statements in this press release, constitute “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-looking statements in this press release includes without limitation statements relating to HEALWELL’s anticipated benefits and synergies from the execution of the services agreements, the number of patient records identified by WELL Health USA and Circle Medical, the potential benefit of the use of Pentavere’s DARWEN™ AI technology platform or Khure’s proprietary technology, and the future benefits of a continued partnership. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements.
Forward-looking statements are often, but not always, identified by words or phrases such as “to become”, “improve”, “growth”, “ensuring”, “continue”, “anticipated”, “expects”, “proceed”, “potential”, “future”, “consider”, “result in”, “increase”, “deliver”, “emerging”, “is poised”, “plan”, “position”, “opportunities”, “expansion”, “exercise”, “ensure”, “achieve”, “acquire”, “complete”, “satisfy”, “entitle”, “subject to” or variations of such words and phrases or statements that certain future conditions, actions, events or results “will”, “may”, “could”, “would”, “should”, “might” or “can” be taken, occur or be achieved, or the negative of any of these terms. Forward-looking statements are necessarily based upon management’s perceptions of historical trends, current conditions and expected future developments, as well as a number of specific factors and assumptions that, while considered reasonable by HEALWELL as of the date of such statements, are outside of HEALWELL's control and are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in the forward-looking statements ultimately being entirely or partially incorrect or untrue. Although HEALWELL’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking statements will prove to be accurate. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, HEALWELL disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. All of the forward-looking statements contained in this press release are qualified by these cautionary statements.
For more information:
Pardeep S. Sangha
Investor Relations, HEALWELL AI Inc.
Phone: 604-572-6392
ir@healwell.ai
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from AIDX of US$50,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.
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