CORRECTION FROM SOURCE: HEALWELL Reports Record Revenue with 433% Growth in 2024, and Anticipates Closing of Transformational Orion Health Acquisition on April 1, 2025
Correction from Source: In the previously issued press release this morning, the full year 2024 Adjusted EBITDA loss was inadvertently reported as $1 million. The correct Adjusted EBITDA(1) loss is $16 million. The press release is re-issued below in its entirety with this one correction.HEALWELL achieved record annual revenue from continuing operations of approximately $39 million in fiscal 2024, an increase of 433% compared to fiscal 2023. HEALWELL achieved record quarterly revenue from continuing operations of $15.2 million...
2025-03-26 12:09 PM EDT
HEALWELL Reports Record Revenue with 433% Growth in 2024, and Anticipates Closing of Transformational Orion Health Acquisition on April 1, 2025
HEALWELL achieved record annual revenue from continuing operations of approximately $39 million in fiscal 2024, an increase of 433% compared to fiscal 2023. HEALWELL achieved record quarterly revenue from continuing operations of $15.2 million in Q4-2024, 692% higher than the $1.9 million generated in Q4-2023 and 11% higher than the $13.7 million generated in Q3-2024.On December 16, 2024, HEALWELL announced the acquisition of Orion Health Holdings Limited ("Orion Health", or "Orion"), a leader in global healthcare technology, with over 70...
2025-03-26 9:46 AM EDT
HEALWELL AI to Announce Fourth Quarter and Year End 2024 Financial Results on March 26, 2025
HEALWELL AI to hold a conference call and simultaneous webcast on Wednesday, March 26, 2025, at 1:00 pm ET (10:00 am PT). Toronto, Ontario--(Newsfile Corp. - March 20, 2025) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL" or the "Company"), a healthcare artificial intelligence company focused on preventative care, is pleased to announce the Company will release its Fiscal Fourth Quarter and Year End 2024 financial results for the period ended December 31, 2024, on Wednesday, March 26, 2025....
2025-03-20 4:15 PM EDT
HEALWELL Signs $50M Credit Agreement Led by Scotiabank and RBC to Support Orion Acquisition, and Commences Pre-Closing Procedures
HEALWELL has signed a $50 million credit agreement, contingent on and in support of its acquisition of Orion Health, with credit to be provided by a syndicate of Schedule I Canadian Banks, including The Bank of Nova Scotia as Sole Bookrunner, Admin Agent, and Co-Lead Arranger, and Royal Bank of Canada as Co-lead Arranger.The credit agreement also provides for an additional uncommitted future accordion feature of up to $25 million. Between this credit agreement and the capital raised through the...
2025-03-10 3:15 AM EDT
HEALWELL to Participate in Upcoming Scotiabank TMT and ROTH Investor Conferences
28th Annual Scotiabank TMT Conference on March 4-5, 2025, in Toronto, ON37th Annual ROTH Conference on March 16-18, 2025, in Dana Point, CAToronto, Ontario--(Newsfile Corp. - February 27, 2025) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL" or the "Company"), a healthcare artificial intelligence company focused on preventative care, is pleased to announce that Dr. Alexander Dobranowski, CEO of HEALWELL AI, will be participating in the following upcoming investor conferences:28th Annual Scotiabank TMT ConferenceDate: March 4-5, 2025Location: Scotiabank Conference...
2025-02-27 3:15 AM EST
HEALWELL's VeroSource Unveils Digital Twin Technology to Bring Real-Time Intelligence to Healthcare Management
VeroSource to support cutting edge Digital Twin technology on its VS Data-as-a-Service Platform, delivering real-time insights and advanced data visualization to optimize healthcare operations.A Digital Twin is a virtual model of a healthcare system or facility that provides real-time insights for better decision-making. By simulating operations without disruption, this technology allows healthcare managers to optimize efficiency, reduce costs, and enhance patient care.Key Features of VeroSource's Digital Twin technology includes Seamless Data Integration and Dynamic Virtual Modelling. It also incorporates data...
2025-02-26 3:15 AM EST
HEALWELL's Khure Health Provides Update Highlighting Significant Acceleration in User and Life Sciences Partner Adoption of Disease Detection AI Powered Co-Pilots and Strong Physician NPS Scores
In Q4-2024, HEALWELL's subsidiary, Khure Health ("Khure") helped physicians identify over 43,000 high-risk patients with its AI-Powered Physician Co-Pilots, across 8 clinical specialities harnessing 132 disease specific algorithms. This figure reflected a quarter over quarter sequential growth of 22% as compared to Q3-2024 and year-over-year growth of 500% as compared to Q4-2023.HEALWELL has executed 4 new Master Services Agreements ("MSA") with new pharmaceutical partners in Q4-2024 relating to the Khure program; bringing the total number of MSAs with life sciences...
2025-02-24 3:15 AM EST
HEALWELL's Pentavere Publishes Study in the Journal of Liquid Biopsy; Validating DARWEN(TM) AI as a Leading Artificial Intelligence Clinical Decision Support Tool in Oncology
The use of the DARWEN™ AI platform achieved time savings representing a 100-fold improvement as compared to traditional manual processes(1), demonstrating the opportunity to advance care and improve patient outcomes by leveraging cutting edge AI technology in clinical care. This study was conducted in collaboration with Princess Margaret Cancer Centre and is one of the world's first peer-reviewed studies to use an artificial intelligence platform to demonstrate the value of liquid biopsies in speeding up lung cancer treatment in...
2025-02-13 3:15 AM EST
HEALWELL Receives Regulatory Approval from Overseas Investment Office of New Zealand to Acquire Orion Health
HEALWELL receives consent from the Overseas Investment Office of New Zealand (the "OIO") for HEALWELL to acquire all of the shares (the "Orion Shares") of Orion Health Holdings Limited ("Orion Health"), as contemplated in the previously disclosed share purchase agreement dated December 16, 2024. Orion Health is a leader in global healthcare technology, with over 70 customers worldwide in 11 countries and approximately 400 team members. Orion Health generates revenues via subscription license and services by serving marquee public...
2025-02-10 3:15 AM EST
HEALWELL Provides Corporate Update Including Strategic Cost Optimization Initiative to Streamline Operations and Pursue M&A Efficiencies
HEALWELL expects to achieve at least $3.0 million in annual cost savings through a strategic cost optimization initiative. HEALWELL is focussed on aligning its operations ahead of the anticipated closing of its previously announced acquisition of New Zealand based Orion Health ("Orion") to optimize synergies and streamline operations between the two companies.HEALWELL also disclosed that it expects to be favourably positioned in the event the U.S. tariffs against Canada were to expand beyond goods to services, as it has minimal...
2025-02-03 3:15 AM EST
HEALWELL AI Closes the $30M Convertible Debt Tranche of its Upsized Bought Deal Financing
HEALWELL has completed the convertible debt tranche of its previously announced upsized $55 million bought deal financing, issuing subscription receipts for $30 million in convertible debentures. The proceeds of the financing, together with the $25.5 million equity tranche of the offering completed last week, will be used to fund the previously announced acquisition of New Zealand based Orion Health.Toronto, Ontario--(Newsfile Corp. - January 28, 2025) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL" or the "Company"), a healthcare artificial...
2025-01-28 2:35 PM EST
HEALWELL AI Closes the $25.5M Equity Tranche of Its Upsized Bought Deal Financing
HEALWELL has completed the equity tranche of its previously announced upsized $55 million bought deal financing, raising gross proceeds of $25.5M. The proceeds of the financing will be used to fund the previously announced acquisition of New Zealand based Orion Health.The balance of the bought deal financing consists of the convertible debenture portion of the offering, which the Company is now targeting to complete on or about January 28, 2025.Toronto, Ontario--(Newsfile Corp. - January 21, 2025) - HEALWELL AI Inc....
2025-01-21 11:41 AM EST
HEALWELL AI Receives Written Shareholder Approval for Pending Acquisition of Orion Health and Related Financing
The Company has obtained shareholder approval for its proposed acquisition of Orion Health and its previously announced $55 million bought-deal financing. The Company also announced that a Schedule A Bank has obtained internal risk approval for a senior secured credit facility in the amount of $50 million, subject to the Company finalizing a credit agreement with the Bank.The Company expects to complete its upsized bought deal offering later this week. Toronto, Ontario--(Newsfile Corp. - January 14, 2025) - HEALWELL AI...
2025-01-14 3:15 AM EST
HEALWELL Acquires Control of Mutuo Health Solutions to Build Next Generation of AI-Powered Physician Co-Pilots
HEALWELL has acquired a majority controlling interest in Mutuo Health Solutions, a Toronto-based medical artificial intelligence company focused on developing predictive clinical AI technology.Mutuo Health's AutoScribe platform is an advanced AI-powered ambient scribe solution that transcribes clinician-patient interactions into high-quality electronic medical records in real time using natural language processing and machine learning technology.AutoScribe's speech recognition capabilities, designed with a robust patient privacy framework, allows healthcare providers to focus on patient care, significantly reduce administrative burden and enhance care delivery.HEALWELL...
2024-12-03 3:15 AM EST
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...
2024-11-27 3:15 AM EST
HEALWELL AI Appoints Beatrice York, Dr. Marcel Reichart, and Reeva Misra to Strategic Advisory Board
HEALWELL AI announces the formation of a Strategic Advisory Board, designed to empower the Company's global growth initiatives and offer expert guidance on product development, ethical considerations related to use of AI, regulatory compliance, and market positioning.Beatrice York, Dr. Marcel Reichart and Reeva Misra have joined HEALWELL's Strategic Advisory Board, bringing expertise across international business, AI, healthcare, and technology with the goal to help the company realize potential in creating impactful societal and shareholder valueToronto, Ontario--(Newsfile Corp. - November 19,...
2024-11-19 3:15 AM EST
HEALWELL Reports Record Revenue and Increased Customer Activity from Pharmaceutical Partners in Q3-2024
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...
2024-11-12 5:00 AM EST
HEALWELL's Pentavere Receives Prestigious Prix Galien USA 2024 Award for Best Digital Health Startup for Its Contributions in AI for Life Sciences Industry
The Prix Galien Award is among the global health innovation industry's most renowned honors, recognizing outstanding biomedical, medical, and technology achievements that improve the human condition and is considered the industry's equivalent of the Nobel Prize. Pentavere's DARWEN™ AI platform was awarded for its proven contribution in making healthcare more accessible and personalized for patients and for using various forms of AI including generative AI to help identify patients and detect disease on a preventative basis. The Prix...
2024-11-12 3:15 AM EST
HEALWELL Provides Corporate Update on Accelerating Commercialization and Expansion of Pharmaceutical Partnerships by Leveraging Its Best-in-Class Patient Identification Capabilities
HEALWELL's AI and data science subsidiaries have executed 5 new Master Services Agreements ("MSA") with new pharmaceutical partners in Q3-2024; bringing the total number of MSAs with life sciences partners to 27, which includes 6 of the top 10 pharmaceutical companies in the world. HEALWELL's AI and data science subsidiaries generated patient identification revenue from 23 of these pharmaceutical partners in Q3-2024.HEALWELL subsidiary, Khure Health, has executed an MSA for patient identification purposes with a major multi-national medical device conglomerate...
2024-11-05 3:15 AM EST
HEALWELL AI to Announce Third Quarter 2024 Financial Results on November 12, 2024
HEALWELL AI to hold a conference call and simultaneous webcast on Tuesday, November 12, 2024, at 1:00 pm EST (10:00 am PST).Toronto, Ontario--(Newsfile Corp. - November 4, 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 announce the Company will release its Fiscal Third Quarter 2024 financial results for the period ended September 30, 2024, on Tuesday, November 12,...
2024-11-04 4:15 PM EST