HealWELL AI Inc

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

  • 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, ON, November 27, 2024 – HEALWELL AI Inc. (“HEALWELL” or the “Company”) (TSX: AIDX, OTCQX: HWAIF), 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 is a healthcare artificial intelligence company focused on 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: 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.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. 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. 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 

Khure Health

Khure Health is a wholly owned subsidiary of HEALWELL AI. Khure is an AI health technology company whose precision medicine platform harnesses clinical data, enabling physicians to rapidly screen and identify patients with rare diseases and facilitate more personalized treatment.

Khure is actively working with and/or has rare and specialty disease programs in development with 6 of the top 10 pharma companies and international disease associations.
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Pentavere

HEALWELL AI is a majority shareholder of Pentavere Research Group, a globally recognized and award-winning AI digital health company that has built a best-in-class AI engine to identify patients that are eligible for approved medications or interventions, to improve outcomes for patients and help drive therapy growth and penetration. Over the past several years, Pentavere has published an impressive array of literature in high-impact, peer-reviewed medical journals, totaling more than 30 manuscripts, which serve as a testament to Pentavere’s capabilities and adds significant credibility to their technology.
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Intrahealth is a pioneering force in healthcare technology, specializing in the development and implementation of state-of-the-art EMR solutions. With a relentless commitment to advancing patient care, Intrahealth empowers healthcare providers, institutions, and governments with innovative digital tools designed to enhance healthcare delivery and improve patient outcomes.
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VeroSource Solutions

VeroSource Solutions is a digital health company established in 2014 to empower people and unlock the potential in Canadian healthcare. Its team of professionals has extensive experience in the full lifecycle of healthcare IT solutions and offers healthcare providers the technology and support needed to go digital. VeroSource’s cloud-first multi-channel software securely connects people, data and systems to drive digital healthcare transformation. Founded in Fredericton, NB, VeroSource has grown to include team members across Ontario and Atlantic Canadian.
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PolyClinic

HEALWELL AI Polyclinic provides onsite integrated health services including primary care, specialist care, lab services, and an in-house clinical research organization. With integrated systems and data-driven tools, HEALWELL AI Polyclinic plans to unlock meaningful insights from consistent, high-quality, structured clinical information from over 50 primary care physicians and specialists, labs, and clinical trials.
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Doctorly

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Read the original press release here.
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xAI

xAI is a company working on building artificial intelligence to accelerate human scientific discovery. They're guided by their mission to advance our collective understanding of the universe. The team is led by Elon Musk, CEO of Tesla and SpaceX. Collectively their team has contributed some of the most widely used methods in the field, in particular the Adam optimizer, Batch Normalization, Layer Normalization, and the discovery of adversarial examples. They further introduced innovative techniques and analyses such as Transformer-XL, Autoformalization, the Memorizing Transformer, Batch Size Scaling, μTransfer, and SimCLR. They have worked on and led the development of some of the largest breakthroughs in the field including AlphaStar, AlphaCode, Inception, Minerva, GPT-3.5, and GPT-4. Learn more at https://x.ai/ Read the original press release here.
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Mutuo Health Solutions

Mutuo Health Solutions is a Toronto-based medical artificial intelligence company focused on developing predictive clinical AI technology. Their flagship product, AutoScribe, is an advanced AI-powered ambient scribe solution that transcribes clinician-patient interactions into high-quality electronic medical records in real time. AutoScribe utilizes natural language processing and machine learning technology to accurately capture and structure patient data, enabling healthcare providers to focus on patient care and improve clinical efficiency.

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Abstractive Health

Abstractive Health is on a mission to transform the healthcare industry by automating clinical documentation with generative AI. Their innovative AI software creates comprehensive patient summaries, streamlining workflows and empowering healthcare providers to focus on patient care. By harnessing advanced language models, the company delivers accurate, medically relevant insights directly to clinicians, enabling informed decision-making and improved patient outcomes. Read the original press release here. 

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