- HEALWELL achieved record quarterly revenue from continuing operations of $13.7 million in Q3-2024, 738% higher than the $1.6 million generated in Q3-2023 and 153% higher than the $5.4 million generated in Q2-2024.
- Quarterly revenues were driven by HEALWELL completing the acquisitions of BioPharma Services Inc. and VeroSource Solutions Inc. during Q3-2024.
- Management maintains a positive outlook and based on current M&A pipeline continues to expect to make further M&A announcements by year-end which would accelerate the Company’s annualized revenue run-rate to a figure approaching $100 million, and put the Company on track to achieve profitability on an Adjusted EBITDA basis in 2025.
- HEALWELL is now successfully accelerating the commercialization of its AI enabled patient identification solutions across both public and private sectors. With 5 new Master Services Agreements or “MSAs” secured during the quarter, bringing the total number of pharmaceutical or life sciences MSAs to 27, of which HEALWELL generated revenue from 23 of these partners which include 7 of the top 10 pharmaceutical companies in the world.
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/.
For more information:
Pardeep S. Sangha
Investor Relations, HEALWELL AI Inc.
Phone: 604-572-6392
ir@healwell.ai
