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HEALWELL AI Provides Corporate Update on Capital Allocation Program and Value Creation Strategy

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HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF), a healthcare technology company, has provided a corporate update on its capital allocation program and value creation strategy. The company aims to achieve run rate revenues of nearly $100 million by year-end, up from the current $65 million. This goal is supported by a robust M&A pipeline, including one signed LOI.

HEALWELL's four acquisitions have positioned it to leverage health data with AI for three key stakeholder groups: clinicians, large enterprises, and the pharmaceutical industry. The company plans to continue growing both organically and inorganically, focusing on early disease detection AI capabilities and mature healthcare software companies.

HEALWELL recently strengthened its balance sheet by reducing total liabilities by $15.5 million and had cash exceeding $14.5 million at Q2 end. If all in-the-money warrants are exercised, the cash balance could grow to over $39 million.

HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF), un'azienda tecnologica nel campo della salute, ha fornito un aggiornamento aziendale sul suo programma di allocazione del capitale e sulla strategia di creazione di valore. L'azienda punta a raggiungere ricavi annualizzati di quasi 100 milioni di dollari entro la fine dell'anno, rispetto ai attuali 65 milioni di dollari. Questo obiettivo è supportato da un robusto pipeline di M&A, compresa una LOI firmata.

Le quattro acquisizioni di HEALWELL l'hanno posizionata per sfruttare i dati sanitari con l'AI per tre gruppi di stakeholder chiave: clinici, grandi imprese e l'industria farmaceutica. L'azienda prevede di continuare a crescere sia in modo organico che inorganico, concentrandosi sulle capacità di rilevamento precoce delle malattie tramite AI e su aziende di software sanitario consolidate.

HEALWELL ha recentemente rafforzato il suo bilancio riducendo le passività totali di 15,5 milioni di dollari e aveva liquidità superiore a 14,5 milioni di dollari alla fine del secondo trimestre. Se tutte le warrant in essere saranno esercitate, il saldo di cassa potrebbe superare i 39 milioni di dollari.

HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF), una empresa de tecnología en salud, ha proporcionado una actualización corporativa sobre su programa de asignación de capital y estrategia de creación de valor. La empresa tiene como objetivo alcanzar ingresos anuales de casi 100 millones de dólares para fin de año, en comparación con los actuales 65 millones de dólares. Este objetivo está respaldado por un sólido pipeline de fusiones y adquisiciones, incluidas una carta de intención firmada.

Las cuatro adquisiciones de HEALWELL la han posicionado para aprovechar los datos de salud con IA para tres grupos clave de interesados: clínicos, grandes empresas y la industria farmacéutica. La empresa planea seguir creciendo tanto de manera orgánica como inorgánica, enfocándose en capacidades de detección temprana de enfermedades mediante IA y en empresas de software de salud consolidadas.

HEALWELL recientemente fortaleció su balance al reducir las obligaciones totales en 15,5 millones de dólares y tenía efectivo superior a 14,5 millones de dólares al final del segundo trimestre. Si se ejercen todas las opciones en dinero, el saldo de efectivo podría crecer a más de 39 millones de dólares.

HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF), 의료 기술 회사, 자본 배분 프로그램 및 가치 창출 전략에 대한 기업 업데이트를 제공했습니다. 회사는 연말까지 거의 1억 달러의 연간 매출 목표를 세웠으며, 이는 현재의 6천5백만 달러에서 증가하는 것입니다. 이 목표는 한 건의 LOI가 서명된 강력한 M&A 파이프라인에 의해 뒷받침됩니다.

HEALWELL의 네 건의 인수는 임상의, 대기업 및 제약 산업이라는 세 가지 주요 이해관계자 그룹을 위해 AI를 활용하여 건강 데이터를 활용할 수 있도록 했습니다. 회사는 조기 질병 탐지 AI 기능과 성숙한 헬스케어 소프트웨어 기업에 중점을 두고 유기적으로 및 비유기적으로 계속 성장할 계획입니다.

HEALWELL은 최근 총 부채를 1천5백50만 달러 줄여 재무 상태를 강화하였으며, 2분기 말 현금 잔고는 1천4백50만 달러를 초과했습니다. 모든 시장 내 물적증권이 행사되면 현금 잔고가 3천9백만 달러 이상으로 증가할 수 있습니다.

HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF), une entreprise de technologie de la santé, a fourni une mise à jour d'entreprise concernant son programme d'allocation de capital et sa stratégie de création de valeur. L'entreprise vise à atteindre des revenus récurrents de près de 100 millions de dollars d'ici la fin de l'année, contre 65 millions de dollars actuellement. Cet objectif est soutenu par un solide pipeline de fusions et acquisitions, y compris une lettre d'intention signée.

Les quatre acquisitions de HEALWELL ont permis à l'entreprise d'exploiter les données de santé grâce à l'IA pour trois groupes d'intervenants clés : les cliniciens, les grandes entreprises et l'industrie pharmaceutique. L'entreprise prévoit de continuer à croître de manière organique et inorganique, en se concentrant sur les capacités de détection précoce des maladies par IA et sur les entreprises de logiciels de santé matures.

HEALWELL a récemment renforcé sa situation financière en réduisant ses passifs totaux de 15,5 millions de dollars et avait plus de 14,5 millions de dollars de liquidités à la fin du deuxième trimestre. Si toutes les options en circulation sont exercées, le solde de liquidités pourrait dépasser 39 millions de dollars.

HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF), ein Unternehmen für Gesundheitstechnologie, hat ein Unternehmensupdate zu seinem Kapitalallokationsprogramm und seiner Wertschöpfungsstrategie bereitgestellt. Das Unternehmen strebt an, bis zum Jahresende einen Jahresumsatz von fast 100 Millionen Dollar zu erreichen, im Vergleich zu derzeit 65 Millionen Dollar. Dieses Ziel wird durch eine robuste M&A-Pipeline unterstützt, einschließlich einer unterzeichneten Absichtserklärung.

Die vier Akquisitionen von HEALWELL haben das Unternehmen in die Lage versetzt, Gesundheitsdaten mit KI für drei wichtige Stakeholder-Gruppen zu nutzen: Kliniker, große Unternehmen und die Pharmaindustrie. Das Unternehmen plant, sowohl organisch als auch anorganisch weiter zu wachsen, mit Fokus auf KI-Funktionen zur frühzeitigen Krankheitsdiagnose und auf reifen Gesundheitssoftware-Unternehmen.

HEALWELL hat kürzlich seine Bilanz gestärkt, indem es die Gesamtschulden um 15,5 Millionen Dollar gesenkt hat und zum Ende des zweiten Quartals über 14,5 Millionen Dollar Bargeld verfügte. Wenn alle ausübbaren Warrants ausgeübt werden, könnte der Bargeldbestand auf über 39 Millionen Dollar anwachsen.

Positive
  • Targeting run rate revenues of $100 million by year-end, up from current $65 million
  • Robust M&A pipeline with one signed LOI
  • Strengthened balance sheet with $15.5 million reduction in total liabilities
  • Cash balance of $14.5 million at Q2 end, potentially growing to $39 million if warrants exercised
  • Aiming for profitability on an Adjusted EBITDA basis in 2025
Negative
  • None.
  • HEALWELL's current goal is to achieve run rate revenues approaching $100 million by the end of the year from today's current run rate of over $65 million. This goal is underpinned by a robust M&A pipeline where there are several advanced subjects including one signed LOI and helps the Company position itself to achieve profitability on an Adjusted EBITDA basis in 2025.
  • HEALWELL's four acquisitions to date have positioned the company to unlock the power of health data with artificial intelligence for three key stakeholder groups: (i) Clinicians in healthcare clinics with co-pilot offerings; (ii) Large enterprises such as Canadian Provincial Healthcare systems with Data Interoperability, population health and related services; and (iii) The pharmaceutical industry with a multi-tiered offering that includes scientific research, real-world evidence and clinical trials orchestration services.
  • HEALWELL is focused on continuing to grow and build on each of these segments both organically and inorganically using its capital allocation program.
  • The Company reiterates its disclosure from July 10th, 2024 that HEALWELL had recently strengthened its balance sheet by removing $15.5 million in total liabilities and had cash in excess of $14.5 million at the end of the second quarter. The Company also disclosed that if all of the Company's in-the-money warrants were to be exercised, HEALWELL's cash balance is expected to grow to an amount in excess of $39 million.

Toronto, Ontario--(Newsfile Corp. - July 23, 2024) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL" or the "Company"), a healthcare technology company focused on AI and data science for preventative care, is pleased to provide a corporate update highlighting recent advancement in the Company's acquisition strategy. HEALWELL's current goal is to achieve run rate revenues approaching $100 million by the end of the year, up from today's current run rate of over $65 million. This ambitious target is supported by a robust M&A pipeline, which includes several advanced prospects and one signed LOI and supports the Company's goal of achieving profitability in 2025 on an Adjusted EBITDA basis.

Dr. Alexander Dobranowski, CEO of HEALWELL commented, "Our confidence in continuing to execute on our M&A pipeline grows every day as HEALWELL is becoming recognized as a high-quality acquirer in the digital health and life sciences marketplace. What is unique about our revenue growth strategy is not only our ability to acquire high quality growth assets but also our ability to integrate these assets with our industry leading artificial intelligence offerings in order to expand margins and accelerate growth."

Anthony Lam, CFO of HEALWELL commented, "HEALWELL is well positioned to continue its capital allocation program which is very focused on approaching the $100M run-rate figure by the end of the year. This growth also positions the Company to execute on its plans to achieve profitability in fiscal 2025 on an Adjusted EBITDA basis which we also believe is an important component of our value creation strategy and to deliver shareholder value."

HEALWELL's four acquisitions to date, namely Pentavere Research Group Inc. ("Pentavere"), Intrahealth Systems Limited, VeroSource Services Inc. ("VeroSource") and BioPharma Services Inc. ("BioPharma"), have positioned the Company to unlock the power of health data with artificial intelligence for three key stakeholder groups:

  1. Clinicians in healthcare clinics with co-pilot offerings. To-date HEALWELL has launched AI enabled clinical co-pilot tools to support providers with Clinical Decision Support in four main domains: rare diseases, chronic diseases, cardiovascular disease and oncology. HEALWELL's strategy is to continue to develop AI enabled co-pilot tools to launch in parallel to the current offerings that are in-production and at scale.
  2. Large enterprises such as Canadian provincial healthcare systems with data interoperability and related services. Since the acquisition of VeroSource, HEALWELL now offers end-to-end, customizable, cloud-based data interoperability and population health capabilities. These capabilities enable public sector stakeholders to seamlessly access and interact with healthcare data. HEALWELL intends to expand on these offerings to public sector clients across multiple jurisdictions in Canada as it integrates its industry leading AI capabilities into its public sector offerings.
  3. The pharmaceutical industry with a multi-tiered offering that includes scientific research, real-world evidence and clinical trials orchestration services. With the acquisitions of Pentavere and BioPharama coupled with the capabilities of Khure Health, HEALWELL now has exceptional AI and clinical trial capabilities. These acquisitions have significantly increased the Company's ability to provide both clinical and commercial value for life sciences companies. The addition of BioPharma has expanded HEALWELL's clinical trial offerings to include bioequivalence and early-stage trial services, leveraging HEALWELL's AI capabilities to help identify patients of strong clinical trial eligibility.

HEALWELL is focused on continuing its growth trajectory by building on each of these segments both organically and inorganically. The Company's capital allocation program will focus on two areas: first, early disease detection AI capabilities; and second, mature operating healthcare software, digital health and research companies that can be enhanced with HELAWELL's tools.

HEALWELL is also pleased to re-iterate its disclosure on July 10th, 2024 that the Company had recently strengthened its balance sheet by reducing total liabilities by $15.5M and had cash in excess of $14.5 million at the end of the second quarter. HEALWELL also disclosed that if all of the Company's in-the-money warrants were to be exercised, cash balance is expected to grow to an amount in excess of $39 million. The Company is well positioned to continue its successful capital allocation program and to deliver shareholder value.

Non-GAAP financial measures

The Company uses certain non-GAAP financial measures as supplemental indicators of its financial and operating performance. These non-GAAP financial measures include Adjusted EBITDA. The Company believes this supplementary financial measure reflects the Company's ongoing business in a manner that allows for meaningful analysis of trends in its business.

Dr. Alexander Dobranowski
Chief Executive Officer
HEALWELL AI Inc.

About HEALWELL AI

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 AI technology and competencies which includes data science, electronic health records and clinical research offerings, 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 publicly traded on the Toronto Stock Exchange under the symbol "AIDX" and on the OTC Exchange under the symbol "HWAIF". To learn more about HEALWELL, please visit https://healwell.ai/.

Forward-Looking Statements

Certain statements in this press release, constitute "forward-looking information" and "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 include statements with respect to, among other things, the Company's current and expected run rate revenue, its current M&A pipeline and other future acquisitions by the Company, its expected product offering and customer base, its ability to integrate artificial intelligence technologies into its product offering, and the potential exercise of the Company's outstanding warrants. Forward-Looking statements are often, but not always, identified by words or phrases such as "position", "growth", "future", "opportunity", "potential", "improve", "expect", "intend", "create" 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. Forward-Looking statements contained in this press release are based on various assumptions, including, but not limited to, the following: the Company's ability to successfully integrate recent acquisitions into its organization; the availability of future M&A opportunities and the Company's ability to capitalize on those opportunities; the anticipated timing and quantity of, and demand for, warrant exercises; the effects of competition in the industry; the expected demand for the Company's products and continued profitability of the target companies within its M&A pipeline; trends in customer growth; the stability of general economic and market conditions; currency exchange rates and interest rates; the Company's ability to comply with applicable laws and regulations; the Company's continued compliance with third party intellectual property rights; and that the risk factors noted below, collectively, do not have a material impact on the Company's business, operations, revenues and/or results. 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.

Known and unknown risk factors, many of which are beyond the control of HEALWELL, could cause the actual results of HEALWELL to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. Such risk factors include but are not limited to those factors which are discussed under the section entitled "Risk Factors" in HEALWELL's most recent annual information form dated April 1, 2024, which is available under HEALWELL's SEDAR+ profile at www.sedarplus.ca. The risk factors are not intended to represent a complete list of the factors that could affect HEALWELL and the reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-Looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217423

FAQ

What is HEALWELL AI's revenue target for the end of the year?

HEALWELL AI (HWAIF) is targeting run rate revenues approaching $100 million by the end of the year, up from the current run rate of over $65 million.

How many acquisitions has HEALWELL AI completed to date?

HEALWELL AI (HWAIF) has completed four acquisitions to date: Pentavere Research Group Inc., Intrahealth Systems , VeroSource Services Inc., and BioPharma Services Inc.

What is HEALWELL AI's cash position as of Q2 2024?

HEALWELL AI (HWAIF) reported having cash in excess of $14.5 million at the end of the second quarter of 2024.

When does HEALWELL AI aim to achieve profitability?

HEALWELL AI (HWAIF) aims to achieve profitability on an Adjusted EBITDA basis in 2025.

What are the key stakeholder groups HEALWELL AI focuses on?

HEALWELL AI (HWAIF) focuses on three key stakeholder groups: clinicians in healthcare clinics, large enterprises such as Canadian provincial healthcare systems, and the pharmaceutical industry.

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