- 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.
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.
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