- WELL Health and HEALWELL AI announce the expansion of
their multi-year agreement that allows WELL and HEALWELL to launch
and manage clinical trial sites at WELL Health clinic locations
across Canada. Leveraging HEALWELL's Contract Research
Organization (CRO) capabilities alongside WELL Health's network of
clinics across Canada, positions
the partnership as a formidable player in AI-driven clinical
trials, and opens up new revenue streams.
- This partnership allows HEALWELL AI to offer an end-to-end
vertically integrated service, inclusive of patient identification
and recruitment, clinical trial architecture and execution and
clinical research data analysis.
- Providing clinical trial sites within WELL Health clinics
transforms these clinics into hubs of innovation, improves
accessibility and directly benefits patients by bringing
experimental treatments to local sites.
- Launching and managing clinical trial sites at WELL Health's
clinic locations across Canada
would be a powerful strategic initiative. This could allow WELL
Health and HEALWELL to capitalize on their combined strengths
in healthcare infrastructure and AI technology, potentially
transforming the landscape for clinical research.
VANCOUVER, BC and TORONTO, Oct. 29,
2024 /CNW/ - WELL Health Technologies
Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL"), a digital
health company focused on tech-enabling healthcare providers, and
HEALWELL AI Inc. (TSX: AIDX, OTCQX: HWAIF) ("HEALWELL"), a
healthcare technology company focused on AI and data science for
preventative care, are jointly pleased to announce the expansion of
their multi-year strategic alliance agreement that allows WELL and
HEALWELL to launch and manage clinical trial sites at WELL clinic
locations across Canada.
Leveraging the country's largest network of primary and specialty
care clinics, with over 180 clinics and thousands of healthcare
practitioners, HEALWELL and WELL will collaborate to expand
clinical trial access to more patients than ever before. By
combining their strengths in healthcare infrastructure and AI
technology, WELL and HEALWELL aim to transform the clinical
research landscape.
This partnership allows HEALWELL AI to offer an end-to-end
vertically integrated service, from patient recruitment to trial
execution and data analysis for clinical research. By including
WELL Health Diagnostic Centres (WHDC) and its robust specialty care
patient roster, including cardiology, radiology, sleep medicine and
endocrinology, the partnership can leverage valuable patient data
to enhance research, particularly in cardiovascular disease and its
co-morbidities, where pharmaceutical interest is significant. For
WELL, hosting trials within its clinics will transform them
into hubs of innovation, directly benefitting patients by bringing
experimental treatments to local sites and improving accessibility.
Leveraging HEALWELL's Contract Research Organization (CRO)
capabilities alongside WELL's clinic infrastructure positions the
partnership as a formidable player in AI-driven clinical trials,
fostering the potential for new revenue.
Dr. Michael Frankel, Chief
Medical Officer of WELL, commented, "Launching and managing
clinical trial sites at WELL's clinic locations across Canada is a powerful and transformational
strategic initiative. This initiative will allow WELL and HEALWELL
AI to capitalize on their combined strengths in healthcare
infrastructure and AI technology, potentially transforming the
landscape for clinical research."
Dr. Alexander Dobranowski, CEO of
HEALWELL, commented, "Patient identification and recruitment for
clinical trials has become an increasingly complex challenge in the
global healthcare and life science sectors. Success hinges
not only on identifying patients but also on effectively recruiting
them and managing their participation – steps that lead to improved
outcomes for patients, practitioners and the healthcare system as a
whole. Through our established late stage CRO, Canadian Phase
Onward, HEALWELL has already made significant strides in
accelerating the recruitment process, but the growing network of
WELL clinics is an opportunity for us to execute our plans at
scale. Ultimately, this service will be a benefit to doctors,
healthcare practitioners and patients alike while reducing the cost
of clinical trials and shortening their timelines."
Some strategic benefits of the partnership include:
- Increased Access to Clinical Trials: With WELL's
extensive and growing network of over 180 primary and specialty
clinics nationwide, patients across diverse Canadian regions will
have more convenient access to clinical trials. This expansive
reach supports recruitment for a wide array of clinical trial
programs, from common therapeutic areas to highly specialized
conditions. HEALWELL focuses on recruiting niche patient
populations, including those with rare diseases, specific genetic
profiles, or unique demographic backgrounds. This focus improves
the feasibility and inclusivity of trials, enabling sponsors to
explore treatments for unmet medical needs. As a result, trials can
achieve greater patient participation and gather more
representative data, ultimately strengthening the value and
relevance of clinical research findings.
- Enhanced Efficiency with AI-Driven Solutions: HEALWELL's
focus on advanced AI and data science is expected to streamline
trial processes, from patient recruitment to data analysis.
AI-driven tools 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.
- Strengthened Position in the Healthcare Innovation
Market: By establishing a unique niche in AI-enhanced clinical
trials, WELL and HEALWELL position themselves as leaders 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 financial growth and technological
development.
- Data-Driven Insights for Future Healthcare Innovations:
Operating clinical trials at scale will generate valuable
real-world data that can inform future healthcare innovations.
These insights can support HEALWELL AI's goal to enhance disease
detection and preventative care tools, creating a cycle of
continuous improvement that benefits both clinical outcomes and
business objectives.
Hamed Shahbazi
Chairman
and Chief Executive Officer
WELL Health Technologies Corp.
Dr. Alexander
Dobranowski
Chief Executive Officer
HEALWELL AI Inc.
About WELL Health Technologies Corp.
WELL's mission is to tech-enable healthcare providers. We do
this by developing the best technologies, services, and support
available, which ensures healthcare providers are empowered to
positively impact patient outcomes. WELL's comprehensive healthcare
and digital platform includes extensive front and back-office
management software applications that help physicians run and
secure their practices. WELL's solutions enable more than 37,000
healthcare providers between the US and Canada and power the largest owned and
operated healthcare ecosystem in Canada with more than 180 clinics supporting
primary care, specialized care, and diagnostic services. In
the United States WELL's solutions
are focused on specialized markets such as the gastrointestinal
market, women's health, primary care, and mental health. WELL is
publicly traded on the Toronto Stock Exchange under the symbol
"WELL" and on the OTC Exchange under the symbol "WHTCF". To learn
more about WELL, please visit: www.well.company.
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 (the "TSX") 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, including the potential
benefits of utilizing WELL's clinic network for HEALWELL's clinical
trials. Forward-looking statements are necessarily based upon
management's perceptions of technical abilities and assumed
benefits, while considered reasonable by WELL and HEALWELL as of
the date of such statements, are outside of WELL and HEALWELL's
control and are inherently subject to 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 ability to identify and recruit patients,
obtaining all required government consents to conduct trials at
such clinic locations, and obtaining pharmaceutical sponsor
consents for the trials to be conducted at WELL's clinics.
Known and unknown risk factors, many of which are beyond the
control of WELL and HEALWELL, could cause the actual benefits and
integration plans to differ materially from the results implied by
such forward-looking statements. Such risk factors include not
obtaining any required government or research ethic board consents,
not successfully identifying candidate patients for clinical
trials, not being able to recruit interested physicians in
assisting with such clinical trials, and the other risks discussed
under the section entitled "Risk Factors" in WELL and HEALWELL's
most recent annual information form, which is available under the
companies' respective SEDAR+ profile at www.sedarplus.ca. The risk
factors are not intended to represent a complete list of the
factors that could affect WELL and 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 benefits
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. WELL and 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.
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SOURCE WELL Health Technologies Corp.
