HEALWELL AI shares major company milestones since its debut in Q4 of 2023
Vancouver, Canada
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April 03, 2024 10:07 AM Eastern Daylight Time
HEALWELL AI CEO Dr. Alex Dobranowski joined Steve Darling from Proactive to provide a corporate update, including the release of preliminary financial results for its Fiscal Fourth Quarter and Year Ended December 31, 2023. HEALWELL AI, which debuted in the fourth quarter of 2023, has achieved significant milestones since its inception.
HEALWELL successfully raised approximately $29.5 million, providing the company with significant financial resources to fuel its growth initiatives. HEALWELL completed the acquisition of a majority interest in Pentavere, an AI healthcare company. This acquisition enhances HEALWELL's capabilities and strengthens its position in the healthcare AI market.
HEALWELL announced a partnership with WELL Health Technologies, whereby WELL Health adopted HEALWELL's AI-powered physician co-pilot product, WELL AI Decision Support. This marks a significant milestone in the adoption of HEALWELL's technology in the healthcare industry.
HEALWELL announced the acquisition of Intrahealth, an enterprise-class Electronic Health Record (EHR) company. This acquisition has contributed to HEALWELL's yearly run-rate revenues, which now exceed $20 million, primarily driven by SaaS and services.
Dobranowski expressed optimism about HEALWELL's outlook, citing its organic growth profile and M&A strategy. The company has a strong and active acquisition pipeline, with the potential to more than double its current revenue run-rate to over $40 million per year using existing cash on hand.
HEALWELL's strategic alliance with equity investor WELL Health Technologies continues to flourish, with significant activity in both Canada and the United States. In Canada, WELL Health recently launched WELL AI Decision Support, an AI-powered physician co-pilot providing clinical decision support for rare disease diagnosis and preventative care, sourced entirely from HEALWELL.
Overall, HEALWELL AI is well-positioned for continued growth and success in the dynamic healthcare AI market, leveraging its innovative technology, strategic partnerships, and robust acquisition strategy.
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