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Monday, July 15, 2024

HEALWELL to Purchase Management of AI Chief ‘Pentavere’ to Assist Remedy A few of Healthcare’s Hardest Knowledge Challenges Specific Instances

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  • HEALWELL enters into settlement to amass a majority stake of Pentavere, a healthcare synthetic intelligence (AI) firm whose DARWEN™ AI know-how has been validated by among the largest pharmaceutical firms on the earth and whose analysis and validation has been printed by among the most prestigious publications globally.
  • Pentavere has developed and validated greatest at school capabilities in information structuring and abstraction; a key functionality to unlocking medical worth and unmet wants for sufferers and suppliers. The Pentavere acquisition provides income, new pharma prospects and entry to hospitals in addition to rising HEALWELL’s devoted workforce of AI engineers.
  • The transaction is anticipated to be financially and strategically accretive and extremely synergistic with HEALWELL’s strategic alliance settlement with WELL Well being Applied sciences Corp. (“WELL”) (TSX: WELL).

TORONTO, Nov. 15, 2023 (GLOBE NEWSWIRE) — HEALWELL AI Inc. (“HEALWELL” or the “Firm”) (TSX: AIDX), a knowledge science and AI firm targeted on preventative care, is happy to announce it has entered into an settlement to amass a majority possession place in Pentavere Analysis Group Inc. (“Pentavere”), an modern AI health-tech firm primarily based in Toronto, Ontario, that focuses on figuring out eligible sufferers for permitted drugs and interventions. Pentavere has a confirmed observe document in commercialization of real-world proof research and has developed sturdy partnerships with main hospital networks. Pentavere’s experience in information abstraction and structuring, mixed with their intensive community and expertise in hospital specialist care, completely aligns with HEALWELL’s dedication to bettering preventative care.

HEALWELL’s proposed majority acquisition of Pentavere will additional solidify its standing as a world-class AI know-how supplier. This proposed acquisition will add top-line income, new merchandise, partnerships with main hospital networks in Canada and the USA, entry to 5 new key pharma prospects and in addition an skilled AI engineering workforce. The mixed capabilities of HEALWELL and Pentavere together with the Firm’s partnership with WELL Well being Applied sciences Corp. (“WELL”) (TSX: WELL) permits HEALWELL to speed up its strategic roadmap and deal with excessive worth issues within the healthcare trade.

Dr. Alexander Dobranowski, CEO of HEALWELL commented, “We’re thrilled on the prospect of welcoming Pentavere, an actual AI powerhouse, to the HEALWELL household. This proposed acquisition will signify a significant leap ahead in our mission to revolutionize healthcare via using AI and information science. Pentavere is most definitely one of many main know-how property in Healthcare AI in Canada. Its superior DARWEN™ platform leverages synthetic intelligence and huge language fashions to course of complicated, unstructured medical information into simply searchable and referenceable structured information, addressing a essential want in fashionable healthcare know-how. Pentavere has established very important partnerships and secured data-access agreements with main hospital networks in Canada and the USA, solidifying its place as a frontrunner within the trade.”

Mr. Aaron Leibtag, Co-Founder and CEO of Pentavere, said, “Pentavere has all the time been pushed by a dedication to bettering affected person outcomes via know-how. Becoming a member of forces with HEALWELL will permit us to amplify our influence and attain even higher heights within the discipline of healthcare know-how. We’re excited to mix our strengths and produce forth modern options that may form the way forward for healthcare and drive higher outcomes for sufferers.”

With a robust pedigree and industrial observe document of delivering complicated AI-driven real-world proof (RWE) research – Pentavere has a validated historical past of delivering impactful AI-solutions to the healthcare trade. Pentavere’s intensive expertise working with among the world’s largest pharmaceutical firms underscores its status within the industrial sector. Pentavere’s spectacular analysis contributions are equally noteworthy. Over the previous a number of years, Pentavere has printed a formidable array of literature in high-impact, peer-reviewed medical journals. This physique of labor, totalling greater than 19 manuscripts, serves as a testomony to Pentavere’s capabilities and provides vital credibility to their know-how, notably within the eyes of healthcare specialists, key opinion leaders and medical researchers.

This proposed acquisition will mark a pivotal second for HEALWELL, because it aligns completely with the Firm’s technological and industrial competencies. The addition of Pentavere’s information abstraction and structuring capabilities, mixed with entry to hospitals and experience in hospital primarily based medical specialities, will considerably broaden HEALWELL’s therapeutic and illness indication spectrum. Furthermore, the expanded portfolio is anticipated to broaden HEALWELL’s capabilities to unlock the worth of its partnership with WELL with whom it has just lately executed an settlement to ship medical resolution help capabilities to WELL’s healthcare suppliers.

No trade on the earth produces extra information than Healthcare. By the 12 months 2025, the compound annual development fee of knowledge for healthcare will attain 36%(1). A lot of this information is generated in unstructured kind and would require applied sciences reminiscent of Pentavere’s to construction such that it may be used to resolve probably the most difficult issues within the healthcare trade.

HEALWELL AI is buying a majority possession of Pentavere on a non-diluted foundation in a mixed main and secondary transaction with an possibility to purchase the remaining stake over the subsequent 3 years. The acquisition values 100% of Pentavere at an enterprise worth of $15 million which incorporates roughly $2 million in debt. HEALWELL is shopping for an preliminary stake from current shareholders with a mix of money ($1.75 million) and AIDX inventory ($4.16 million) utilizing the 5-day VWAP of the Subordinate Voting Shares previous to announcement of the transaction. An extra $1.2 million will probably be invested by HEALWELL on closing to buy newly issued treasury shares that improve HEALWELL’s possession to a majority place on a non-diluted foundation, and supply Pentavere with recent working capital. On closing, HEALWELL has the suitable to nominate nominees for a majority of Pentavere’s board seats.

Footnote:

(1) Supply: Coughlin et al, Inside Medication Journal article “Seeking to tomorrow’s healthcare at present: “A participatory well being perspective”. IDC White Paper, Doc# US44413318: The Digitization of the World – From Edge to Core”

Dr. Alexander Dobranowski
Chief Government Officer
HEALWELL AI Inc.

About HEALWELL AI

HEALWELL AI is a well being care know-how firm targeted on AI and information science for preventive care. Its mission is to enhance well being care and save lives via early identification and detection of illness. As a physician-led group with a confirmed administration workforce of skilled executives, HEALWELL AI is executing a technique centered round creating and buying know-how and medical sciences capabilities that complement the Firm’s highway map. HEALWELL is publicly traded on the Toronto Inventory Trade below the image AIDX. To study extra about HEALWELL AI, please go to: 

About Pentavere

Pentavere Analysis Group is a globally acknowledged and award-winning AI digital well being firm that has constructed a best-in-class AI engine to establish sufferers which can be eligible for permitted drugs or interventions, to enhance outcomes for sufferers and assist drive remedy development and penetration. Pentavere’s AI system, DARWEN™, identifies sufferers which can be eligible for however not receiving permitted drugs or interventions, bettering outcomes for sufferers and serving to drive acceptable remedy development and penetration.

Ahead Wanting Statements

Sure statements on this press launch, represent “forward-looking info” and “ahead trying statements” (collectively, “ahead trying statements”) inside the that means of relevant Canadian securities legal guidelines and are primarily based on assumptions, expectations, estimates and projections as of the date of this press launch. Ahead-looking statements on this press launch embrace statements with respect to, amongst different issues: the closing of the proposed acquisition and the acquisition of a majority stake in Pentavere on the phrases disclosed herein; the anticipated outcomes of the acquisition, together with the anticipated monetary, strategic and synergistic advantages to HEALWELL; anticipated advantages of income and new merchandise and partnerships ensuing from the bulk acquisition; and the expectation that the acquisition will present constructive advantages and alternatives via HEALWELL’s strategic alliance with WELL. Ahead-looking statements are sometimes, however not all the time, recognized by phrases or phrases reminiscent of “to turn into”, “enhance”, “development”, “making certain”, “proceed”, “anticipated”, “expects”, “proceed”, “potential”, “future”, “contemplate”, “end in”, “improve”, “ship”, “rising”, “is poised”, “plan”, “place”, “alternatives”, “enlargement”, “train”, “guarantee”, “obtain”, “purchase”, “full”, “fulfill”, “entitle”, “topic to” or variations of such phrases and phrases or statements that sure future situations, actions, occasions or outcomes “will”, “might”, “may”, “would”, “ought to”, “may” or “can” be taken, happen or be achieved, or the adverse of any of those phrases . Ahead-looking statements are essentially primarily based upon administration’s perceptions of historic developments, present situations and anticipated future developments, in addition to quite a lot of particular elements and assumptions that, whereas thought-about cheap by HEALWELL as of the date of such statements, are exterior of HEALWELL’s management and are inherently topic to vital enterprise, financial and aggressive uncertainties and contingencies which may consequence within the forward-looking statements in the end being solely or partially incorrect or unfaithful. Ahead trying statements contained on this press launch are primarily based on varied assumptions, together with, however not restricted to, the next: means to shut the acquisition on negotiated phrases; means to fulfill all closing situations, together with inventory change approval; means for HEALWELL to appreciate on anticipated synergies with Pentavere; the soundness of common financial and market situations; HEALWELL’s means to adjust to relevant legal guidelines and rules; HEALWELL’s continued compliance with third occasion mental property rights; and that the danger elements famous under, collectively, should not have a cloth influence on HEALWELL’s enterprise, operations, revenues and/or outcomes. By their nature, forward-looking statements are topic to inherent dangers and uncertainties that could be common or particular and which give rise to the chance that expectations, forecasts, predictions, projections, or conclusions won’t show to be correct, that assumptions will not be right, and that aims, strategic objectives and priorities won’t be achieved.

Recognized and unknown danger elements, a lot of that are past the management of HEALWELL, may trigger the precise outcomes of HEALWELL to vary materially from the outcomes, efficiency, achievements, or developments expressed or implied by such forward-looking statements. Such danger elements embrace however should not restricted to these elements that are mentioned below the part entitled “Danger Components” in HEALWELL’s most up-to-date annual info kind dated March 31, 2023, which is offered below HEALWELL’s SEDAR+ profile at www.sedarplus.ca. The chance elements should not meant to signify an entire listing of the elements that might have an effect on HEALWELL and the reader is cautioned to think about these and different elements, uncertainties and potential occasions fastidiously and to not put undue reliance on forward-looking statements. There might be no assurance that ahead trying statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Ahead-looking statements are offered for the aim of offering details about administration’s expectations and plans referring to the longer term. HEALWELL disclaims any intention or obligation to replace or revise any forward-looking statements whether or not on account of new info, future occasions or in any other case, or to clarify any materials distinction between subsequent precise occasions and such forward-looking statements, besides to the extent required by relevant regulation. The entire forward-looking statements contained on this press launch are certified by these cautionary statements.

healwell to acquire control of ai leader pentavere to help solve some of healthcares toughest data challenges
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