HEALWELL AI INC A SUB VTG - HWAIF STOCK NEWS

HEALWELL AI subsidiary VeroSource Solutions reports significant growth in its healthcare technology solutions. More than 600,000 New Brunswick residents can now generate Patient Summaries through MyHealthNB, which saw 100% user growth in 2024 with 35,000 monthly users. The VeroSource-managed Saskatchewan Health Authority website recorded 1.3 million accesses in 2024, a 50% increase from previous year. VeroSource has expanded revenue generation to three additional provinces and developed North America's first patient-mediated Patient Summary, enabling secure health information sharing across healthcare systems.

HEALWELL AI (TSX: AIDX, OTCQX: HWAIF) announces the formation of a Strategic Advisory Board with three initial members: Beatrice York, Dr. Marcel Reichart, and Reeva Misra. The board will guide the company's strategic initiatives, focusing on product development, ethical AI considerations, regulatory compliance, and market positioning. York brings expertise in technology and philanthropy through BY-EQ , Reichart contributes extensive international business development experience, and Misra adds valuable insights from her background in health tech innovation and entrepreneurship.

HEALWELL AI reported record quarterly revenue of $13.7 million in Q3-2024, up 738% from Q3-2023 ($1.6M) and 153% from Q2-2024 ($5.4M). Growth was driven by acquisitions of BioPharma Services and VeroSource Solutions. The company secured 5 new Master Services Agreements, bringing total pharmaceutical/life sciences MSAs to 27, with revenue generated from 23 partners including 7 of top 10 global pharma companies. Management expects further M&A announcements by year-end to approach $100M annualized revenue run-rate and achieve Adjusted EBITDA profitability in 2025.

HEALWELL AI's subsidiary Pentavere has won the Prix Galien USA 2024 award in the Best Startup category for Digital Health & Medical Technology. The award recognizes Pentavere's DARWEN™ AI platform for making healthcare more accessible and personalized. Selected from 43 nominees, this marks Pentavere's first win after three previous nominations. The Prix Galien Award, often referred to as the Nobel Prize of life sciences, honors outstanding biomedical and medical technology achievements. The selection committee included former CEOs of major life science companies, and the award ceremony took place at the American Museum of Natural History in New York on November 7, 2024.

HEALWELL AI reports significant growth in its AI and data science business unit during Q3-2024. The company executed 5 new Master Services Agreements with pharmaceutical partners, bringing the total to 27 MSAs, including partnerships with 6 of the top 10 pharmaceutical companies globally. Revenue-generating pharmaceutical partnerships increased from 8 in Q4-2023 to 23 in Q3-2024.

The company's subsidiary Khure Health secured an MSA with a major medical device conglomerate, while Pentavere established a commercial agreement with a major U.S. health system for identifying valvular heart disease patients using its DARWEN™ AI platform. Six life science customers have adopted Pentavere's subscription-based revenue model.

HEALWELL AI (TSX: AIDX, OTCQX: HWAIF) has scheduled its Fiscal Third Quarter 2024 financial results release for Tuesday, November 12, 2024. The company will host a conference call and simultaneous webcast at 1:00 PM EST to discuss the results for the period ended September 30, 2024. The presentation will be led by CEO Dr. Alexander Dobranowski and CFO Anthony Lam. Participants can join via webcast or phone using toll-free (North America: 1-844-763-8274) or international (1-647-484-8814) numbers.

WELL Health Technologies and HEALWELL AI have expanded their multi-year strategic alliance to launch and manage clinical trial sites across WELL's network of over 180 Canadian clinics. The partnership combines WELL's healthcare infrastructure with HEALWELL's AI technology and Contract Research Organization capabilities to create an end-to-end clinical trials service. The collaboration will leverage WELL's extensive network of primary and specialty care clinics, including diagnostic centers specializing in cardiology, radiology, sleep medicine, and endocrinology, to enhance patient recruitment and trial execution while opening new revenue streams.

WELL Health Technologies and HEALWELL AI have expanded their multi-year strategic alliance to launch and manage clinical trial sites across WELL's network of over 180 Canadian clinics. The partnership combines WELL's extensive healthcare infrastructure with HEALWELL's AI and Contract Research Organization capabilities to create an end-to-end clinical trials service. The collaboration will leverage WELL's primary and specialty care network, including cardiology, radiology, sleep medicine, and endocrinology departments, to enhance patient recruitment and trial execution while opening new revenue streams. This initiative aims to improve patient access to experimental treatments and transform WELL's clinics into innovation hubs.

HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) has announced a strategic investment of USD$250,000 in Abstractive Health, a healthcare AI company specializing in automated patient summaries using proprietary generative AI technology. The investment is part of a broader funding round led by Rho Capital Partners. Concurrent with the investment, HEALWELL has entered into a commercial agreement with Abstractive Health, securing exclusive distribution rights for the Canadian outpatient healthcare market.

Abstractive Health's AI software leverages LLMs and generative AI to automate medical record summaries, streamlining healthcare documentation processes. HEALWELL plans to integrate Abstractive Health's technology into WELL Health Technologies' apps.health marketplace, expanding its suite of AI-enabled co-pilot technologies for healthcare providers.