HEALWELL Provides Corporate Update on Accelerating Commercialization and Expansion of Pharmaceutical Partnerships by Leveraging Its Best-in-Class Patient Identification Capabilities
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 riporta una crescita significativa nella sua unità di business dedicata all'IA e alla scienza dei dati durante il terzo trimestre del 2024. L'azienda ha stipulato 5 nuovi Contratti di Servizi Principali con partner farmaceutici, portando il totale a 27 MSA, inclusi accordi con 6 delle prime 10 aziende farmaceutiche a livello globale. Le partnership farmaceutiche generatrici di entrate sono aumentate da 8 nel quarto trimestre del 2023 a 23 nel terzo trimestre del 2024.
La sussidiaria dell'azienda, Khure Health, ha ottenuto un MSA con un importante conglomerato di dispositivi medici, mentre Pentavere ha stabilito un accordo commerciale con un importante sistema sanitario statunitense per identificare i pazienti con malattia valvolare cardiaca utilizzando la sua piattaforma IA DARWEN™. Sei clienti nel settore delle scienze della vita hanno adottato il modello di entrate in abbonamento di Pentavere.
HEALWELL AI informa de un crecimiento significativo en su unidad de negocio de IA y ciencia de datos durante el tercer trimestre de 2024. La empresa ejecutó 5 nuevos Acuerdos Maestros de Servicios con socios farmacéuticos, llevando el total a 27 MSA, incluyendo asociaciones con 6 de las 10 principales compañías farmacéuticas a nivel global. Las asociaciones farmacéuticas generadoras de ingresos aumentaron de 8 en el cuarto trimestre de 2023 a 23 en el tercer trimestre de 2024.
La subsidiaria de la empresa, Khure Health, aseguró un MSA con un importante conglomerado de dispositivos médicos, mientras que Pentavere estableció un acuerdo comercial con un importante sistema de salud de EE. UU. para identificar a los pacientes con enfermedades valvulares cardíacas utilizando su plataforma de IA DARWEN™. Seis clientes de ciencias de la vida han adoptado el modelo de ingresos basado en suscripción de Pentavere.
HEALWELL AI는 2024년 3분기 동안 AI 및 데이터 과학 사업부에서 유의미한 성장을 보고했습니다. 회사는 제약 파트너와 5개의 새로운 마스터 서비스 계약을 체결하여 총 27개의 MSA를 확보했으며, 이는 전 세계 상위 10개 제약회사 중 6개와의 파트너십을 포함합니다. 수익을 창출하는 제약 파트너십은 2023년 4분기 8개에서 2024년 3분기 23개로 증가했습니다.
회사의 자회사인 Khure Health는 주요 의료 기기 대기업과 MSA를 체결하였고, Pentavere는 자사의 DARWEN™ AI 플랫폼을 사용하여 심장판막 질환 환자를 식별하기 위한 미국 주요 의료 시스템과 상업적 계약을 체결하였습니다. 여섯 개의 생명 과학 고객이 Pentavere의 구독 기반 수익 모델을 채택했습니다.
HEALWELL AI signale une croissance significative de son unité d'affaires dédiée à l'IA et à la science des données au cours du troisième trimestre 2024. L'entreprise a conclu 5 nouveaux Accords de Services Maîtres avec des partenaires pharmaceutiques, portant le total à 27 MSA, y compris des partenariats avec 6 des 10 plus grandes entreprises pharmaceutiques au niveau mondial. Les partenariats pharmaceutiques générateurs de revenus ont augmenté de 8 au quatrième trimestre 2023 à 23 au troisième trimestre 2024.
La filiale de l'entreprise, Khure Health, a sécurisé un MSA avec un important conglomérat de dispositifs médicaux, tandis que Pentavere a établi un accord commercial avec un important système de santé américain pour identifier les patients atteints de maladies valvulaires cardiaques en utilisant sa plateforme IA DARWEN™. Six clients en sciences de la vie ont adopté le modèle de revenus par abonnement de Pentavere.
HEALWELL AI berichtet über ein erhebliches Wachstum in seiner Geschäftseinheit für KI und Datenwissenschaft im dritten Quartal 2024. Das Unternehmen schloss 5 neue Master-Service-Vereinbarungen mit pharmazeutischen Partnern ab, wodurch die Gesamtanzahl auf 27 MSA steigt, einschließlich Partnerschaften mit 6 der 10 größten pharmazeutischen Unternehmen weltweit. Die umsatzgenerierenden pharmazeutischen Partnerschaften stiegen von 8 im vierten Quartal 2023 auf 23 im dritten Quartal 2024.
Die Tochtergesellschaft des Unternehmens, Khure Health, sicherte sich einen MSA mit einem großen Medizingeräte-Konglomerat, während Pentavere eine kommerzielle Vereinbarung mit einem großen amerikanischen Gesundheitssystem zur Identifizierung von Patienten mit Herzklappenerkrankungen unter Verwendung der DARWEN™ KI-Plattform etablierte. Sechs Kunden im Bereich der Lebenswissenschaften haben das abonnementbasierte Einnahmemodell von Pentavere übernommen.
- Increased MSAs from 12 to 27 in 2024, including 6 of top 10 pharma companies
- Nearly tripled revenue-generating pharma partnerships from 8 to 23 (Q4-2023 vs Q3-2024)
- Expansion into medical device sector through new MSA
- Six life science customers adopted subscription-based revenue model
- None.
- HEALWELL's AI and data science subsidiaries have executed 5 new Master Services Agreements ("MSA") with new pharmaceutical partners in Q3-2024; bringing the total number of MSAs with life sciences partners to 27, which includes 6 of the top 10 pharmaceutical companies in the world. HEALWELL's AI and data science subsidiaries generated patient identification revenue from 23 of these pharmaceutical partners in Q3-2024.
- HEALWELL subsidiary, Khure Health, has executed an MSA for patient identification purposes with a major multi-national medical device conglomerate highlighting an expansion into a broader life sciences customer base.
- In addition, HEALWELL's Pentavere subsidiary has executed a commercial agreement with a major U.S. health system, utilizing Pentavere's DARWEN™ AI platform to identify patients with valvular heart disease.
Toronto, Ontario--(Newsfile Corp. - November 5, 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 the recent success of its AI and data science business unit in accelerating the commercialization of its solutions and expanding new relationships with life sciences and pharmaceutical partners. HEALWELL's AI and data science subsidiaries executed 5 Master Service Agreements ("MSA") with new pharmaceutical partners in Q3-2024, bringing the business' cumulative total to 27 signed MSAs with life science partners, which include 6 of the top 10 pharmaceutical companies in the world, compared to 12 cumulative signed MSA at the beginning of the year. HEALWELL also generated revenue from 23 pharmaceutical or life sciences customers in Q3-2024, compared to 8 pharmaceutical or life sciences customers that generated patient identification revenue in Q4-2023, demonstrating successful progress in the commercialization of its AI solutions in the healthcare and life science sectors since the beginning of this year.
YTD Comparison of Signed MSAs and Revenue-Generating Pharma or Life Science Partners
| Q4-2023 | Q3-2024 | |
| Total cumulative # of signed MSAs | 12 | 27 |
| # of Pharma or Life Sciences customers that generated revenue in the quarter | 8 | 23 |
Dr. Alexander Dobranowski, CEO of HEALWELL, commented, "I am thrilled to share the exciting progress our AI and data science subsidiaries, Khure and Pentavere, have made in advancing the commercialization of their AI-driven patient identification solutions and services. Since the close of last calendar year, our AI powered lines of business have achieved remarkable growth, more than doubling the number of signed MSAs with life science partners and nearly tripling those that are actively generating revenue. This impressive progress, achieved in a relatively short timeframe, underscores our commitment to driving value for our life science partners. Additionally, we are seeing meaningful expansion within these partnerships, as Pentavere is advancing towards recurring subscription-based revenue models with its pharma clients, and Khure has begun executing agreements with the medical device community, highlighting our growing reach across the life sciences landscape."
HEALWELL subsidiaries, Khure Health Inc. ("Khure") and Pentavere Research Group Inc. ("Pentavere"), continue to make significant advancements in their businesses marked by key achievements in the quarter. Khure has expanded its reach within the life sciences sector by signing an MSA with a major global medical device conglomerate for patient identification purposes, where the therapeutic being administered after identification would be a medical device, underscoring the potential for commercialization amongst a broadened life science customer base.
Pentavere, has achieved substantial progress in generating pharma-oriented subscription revenue, a significant achievement as one of the few AI and data science companies in the industry to accomplish this, with six life science customers now adopting this model. Additionally, Pentavere has also entered into a strategic commercial agreement with a major U.S. health system, leveraging its DARWEN™ AI platform to identify patients with valvular heart disease, a condition affecting
HEALWELL's globally validated artificial intelligence technology in combination with its Contract Research Organization (CRO) capabilities allows the Company to unlock tremendous potential end-to-end value for the life sciences sector. The Company's advanced AI and data science capabilities are expected to streamline clinical trial processes, from patient recruitment to data analysis. AI-driven tools will also help identify eligible participants, predict outcomes, and reduce trial duration by automating data collection and analysis, making the process more efficient and cost-effective. By seeking to establish a unique niche in AI-enhanced clinical trials, HEALWELL is positioning itself as a leader in the emerging space of digital healthcare solutions for research. These efforts will enhance partnerships with pharmaceutical companies and other research institutions seeking to leverage AI for trial optimizations, contributing to further financial growth and technological development.
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 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 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" (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 include statements with respect to, among other things, the growth and expansion of the Company's AI and Data Services business units into new revenue models and customer segments, the potential synergies between the Company's AI and clinical research capabilities and their anticipated value to the Company's customers. Forward-looking statements are often, but not always, identified by words or phrases such as "seeking", "opportunity", "potential", "growing", "expanding", "advancing", "leveraging", "improve", "expect", "future", "plan", "position", "opportunity" 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: HEALWELL's ability to foster and maintain its business and customer relationships; HEALWELL's ability to develop new technologies, products and services and the timelines on which they can be developed; new technologies functioning as expected; customers adopting and using new technologies, products and services as expected; the need to develop increasingly innovative technologies, products and services; competition in the industry; the stability of general economic and market conditions; HEALWELL's ability to comply with applicable laws and regulations; HEALWELL's continued compliance with third party intellectual property rights; and that the risk factors noted below, collectively, do not have a material impact on HEALWELL'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.com. 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/228911
FAQ
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