HEALWELL's VeroSource Solutions Provides Corporate Update Demonstrating Rapid Growth and Expansion Across Canadian Public Sector Clients

Rhea-AI Summary

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.

Positive

• MyHealthNB platform achieved 100% user growth with 35,000 monthly users
• Saskatchewan Health Authority website traffic increased 50% to 1.3 million accesses
• Revenue expansion into three additional provinces
• Successful launch of first patient-mediated Patient Summary in North America

Negative

• None.

• More than 600,000 New Brunswick residents are now eligible to generate a Patient Summary on the VeroSource-built MyHealthNB digital front door. This year, MyHealthNB averaged over 35,000 unique monthly users in New Brunswick, reflecting 100% growth compared to 2023.
• The VeroSource-managed Saskatchewan Health Authority website was accessed by patients and providers over 1.3 million times in 2024, representing a 50% increase in traffic from the previous year.
• In addition to its successful implementations in New Brunswick and Saskatchewan, VeroSource has generated revenue from three additional provinces this year. The technology is scalable across all provincial jurisdictions, hospital networks, and healthcare systems, addressing long-standing challenges in healthcare data sharing.
• HEALWELL is particularly well positioned to unlock value for the public sector by combining VeroSource's Patient Summary, advanced data interoperability, and VS Data-as-a-Service (VS DaaS) solutions with HEALWELL's proprietary artificial intelligence capabilities. Integration into the HEALWELL and WELL Health ecosystems will enable VeroSource to drive additional value for the public sector particularly with regards to population health analytics and insight discovery.

Toronto, Ontario--(Newsfile Corp. - November 27, 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 on its subsidiary VeroSource Solutions Inc. ("VeroSource"), highlighting the transformative impact of the Patient Summary functionality recently launched and its strategic roadmap to expand offerings across Canada.

More than 600,000 New Brunswick residents are now eligible to generate a Patient Summary on the VeroSource-built MyHealthNB digital front door. This year, MyHealthNB averaged over 35,000 unique monthly users in New Brunswick, reflecting 100% growth compared to 2023. VeroSource has developed the first patient-mediated Patient Summary in North America, a groundbreaking tool that allows individuals to securely share their health information with healthcare professionals and care providers. The technology was successfully launched in New Brunswick in collaboration with the provincial government and Canada Health Infoway. The Patient Summary marks a significant step toward achieving the goals of Canada Health Infoway's Shared Pan-Canadian Interoperability Roadmap, offering patients secure and portable access to their healthcare data to improve continuity of care across jurisdictions, providers, and care settings.

The VeroSource-managed Saskatchewan Health Authority website was accessed by patients and providers over 1.3 million times in 2024, representing a 50% increase in traffic from the previous year. This remarkable growth demonstrates the effectiveness of VeroSource's technology in improving healthcare outcomes and facilitating secure data sharing across different provinces.

In addition to its successful implementations in New Brunswick and Saskatchewan, VeroSource has generated revenue from three additional provinces this year. The technology is scalable across all provincial jurisdictions, hospital networks, and healthcare systems, addressing long-standing challenges in healthcare data sharing. VeroSource aims to establish itself as a nationwide leader in healthcare innovation with plans to expand into additional regions in 2025.

"Digital Health Interoperability is a cornerstone to building a connected healthcare system that works seamlessly for patients and providers alike. Initiatives like Patient Summary demonstrate how cross-industry collaboration and private sector innovation can empower individuals to securely access and share their health information across the continuum of care, improving transitions, outcomes, and experiences," said Abhi Kalra, Executive Vice President of Connected Care at Canada Health Infoway. "The foundational work of improving data quality and establishing consistent data exchange standards across the country, aligned with Infoway's Shared Pan-Canadian Interoperability Roadmap, paves the way for a system that reduces barriers for clinicians, empowers patients, and strengthens the efficiency of care delivery."

Mark McAllister, CEO of VeroSource commented, "We are very proud of our team for continuing to innovate and deliver important technology to address key public sector healthcare issues. As the software capabilities at VeroSource continue to deepen, we believe these offerings could potentially be scaled across the country and unlock a tremendous amount of value for the public sector. Traditionally, healthcare systems in Canada have struggled with the lack of interoperability, creating barriers to data sharing across provinces, territories, and even individual healthcare providers. Patient Summary not only addresses this issue but also positions HEALWELL to be a key driver of value creation in the public sector by unlocking critical public health insights. By integrating VeroSource's Patient Summary technology with Pentavere's AI capabilities and leveraging synergies across the HEALWELL and WELL Health ecosystems, we will enable a unified approach to healthcare data that benefits patients, providers, and public health systems alike."

The ability to share healthcare data securely and efficiently addresses critical challenges faced by patients who travel, require chronic care, or lack a primary care provider. With the Patient Summary, patients can carry essential health data, such as medications, immunizations, and lab results, across provincial and international borders, ensuring better care outcomes and reducing system inefficiencies.

When combined with HEALWELL subsidiary Pentavere's world-class artificial intelligence capabilities, VeroSource's offerings are poised to deliver unparalleled benefits to the public sector. Pentavere will help unlock deeper population health insights, creating a more robust, fully compliant Patient Summary. Additionally, synergies within the broader WELL Health ecosystem will further amplify the value of VeroSource's technology by integrating primary care and other healthcare data sources. This alignment strengthens VeroSource's ability to scale both domestically and internationally, enhancing its role as a leader in data interoperability and Data-as-a-Service (DaaS) solutions.

Dr. Alexander Dobranowski
Chief Executive Officer
HEALWELL AI Inc.

About HEALWELL AI

HEALWELL AI is a healthcare technology company focused on AI and data science for preventative care. Its mission is to improve health care and save lives through early identification and detection of disease. As a physician-led organization with a proven management team of experienced executives, HEALWELL AI 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 AI, 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: HEALWELL's future plans including VeroSource's plans for expansion into new geographic regions and the integration of and potential benefits and synergies that may result from the integration of the Company and its subsidiaries' various product and service offerings with each other and with the WELL Health ecosystem. Forward-Looking statements are often, but not always, identified by words or phrases such as "improve", "ensuring", "continue to", "potential", "future", "is poised", "plan", "position", "expansion", "achieve", 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 successfully integrate its various product and service offerings, the continued adoption of the software, tools and solutions created by HEALWELL, the impact of increasing competition in the industry and the ability to market HEALWELL's products and services successfully, that HEALWELL will be successful in identifying, executing and integrating new acquisitions, investments and/or partnerships, 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.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. 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231570

FAQ

What is the growth rate of MyHealthNB users for HEALWELL AI (HWAIF) in 2024?

MyHealthNB experienced 100% growth in 2024, averaging over 35,000 unique monthly users in New Brunswick.

How many residents can access VeroSource's Patient Summary in New Brunswick?

More than 600,000 New Brunswick residents are eligible to generate a Patient Summary on the VeroSource-built MyHealthNB digital front door.

What was the Saskatchewan Health Authority website traffic for HEALWELL AI (HWAIF) in 2024?

The VeroSource-managed Saskatchewan Health Authority website was accessed over 1.3 million times in 2024, representing a 50% increase from the previous year.