- WELL to invest in and help proliferate AI inspired applications
that support healthcare providers with next generation tools.
- WELL's goal is to make a minimum of 10 AI related investments
of at least $250k each.
VANCOUVER, BC and TORONTO, April 26,
2023 /PRNewswire/ - WELL Ventures a subsidiary of
WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the
"Company" or "WELL"), a digital healthcare company
focused on positively impacting health outcomes by leveraging
technology to empower healthcare practitioners and their patients
globally, is pleased to announce the launch of a new investment
program, The WELL AI Investment Program, focused on artificial
intelligence ("AI") and its applications in helping support
healthcare providers with next generation tools .
The WELL AI Investment Program will focus on early-stage AI
companies who demonstrate promising innovation, and a clear focus
on using AI technologies that can help healthcare providers with
innovative tools or applications designed to improve their
efficiency, accuracy and ultimately help them deliver better
patient outcomes. Data protection and cybersecurity applications
will also be considered as this is a key part of WELL's
practitioner enablement platform.
"The prevalence of AI technology in healthcare will usher in
perhaps the most transformational technologies we've ever seen in
terms of supplying and supporting healthcare providers with tools
that help improve the accuracy, efficiency and proactivity of care
while also delivering significantly better patient outcomes," said
Hamed Shahbazi, Founder and CEO of
WELL Health Technologies. "WELL wants to ensure that it is at the
forefront of this movement, not just as a developer and user of AI,
but also as a partner to other innovative companies seeking to
advance the health technology industry. What makes The WELL AI
Investment Program unique, besides being the first healthcare
centric AI investment program in Canada, is that WELL is not just looking to
provide capital but also leverage its own products, distribution
and significant size and scale to help advance the proliferation of
the best AI inspired health focussed technologies. "
The WELL AI Investment Program will provide investees with
capital as well as extensive support from WELL's ecosystem to help
develop, test, refine, secure, de-risk and integrate the most
promising such technologies into the Canadian healthcare ecosystem
at scale. Additionally, WELL will provide investees access to the
23,000+ care providers who make use of its apps.health ecosystem,
operated by its Provider Solutions Business Unit.
In recognition of WELL's longstanding work with Canada Health
Infoway (Infoway), an independent, not-for-profit organization
funded by the federal government, Infoway will collaborate with
WELL on advancing interoperability as part of the WELL AI
investment Program in Canadian start-ups. Infoway will provide
guidance on security, privacy, interoperability, and other data
standards. This partnership will ensure that resulting products and
services meet pan-Canadian standards and can effectively serve the
needs of providers and patients.
WELL's aims to achieve the following through the investment
program:
- Make a minimum of 10 AI related investments of at least
$250k each in companies that are
advancing healthcare applications and/or protecting data.
- Ensure that each Investee has a strategic alliance agreement
with WELL that allows it to benefit from WELL's healthcare
ecosystem which includes:
-
- Its apps.health ecosystem, which is Canada's only app marketplace for integrated
EMR apps, and/or
- access to the 23,000+ provider network supported by WELL's
digital and services tools and the 2,800+ providers working
internally in WELL's own patient services businesses.
WELL Ventures is already fully funded for making these
investments directly from WELL's overall treasury position. While
there is no defined timeline for these investments, it is WELL's
intention to make a number of these investments in 2023.
WELL is a leader in tech-enabling Canadian healthcare, and
through WELL Ventures, WELL has already placed numerous investments
in early-stage companies focussed on providing tools and enablement
(including AI) for healthcare providers in Canada, the US, and abroad.
For more information on, or to express interest in the WELL AI
Investment Program, please email corpdev@well.company or visit
https://well.ventures for more information on WELL Ventures.
About WELL Health
Technologies
WELL is a practitioner-focused digital healthcare company.
WELL's overarching mission is to positively impact health outcomes
by leveraging technology to empower healthcare practitioners and
their patients globally. WELL exists to enable healthcare
practitioners with best-in-class technology and services. WELL has
built the most comprehensive end-to-end healthcare system across
Canada including the nation's
largest network of clinics supporting primary care, specialized
care, and diagnostics services. In the
United States, WELL provides omni-channel healthcare
services and solutions targeting specialized markets such as the
gastrointestinal market, women's health, primary care, and mental
disorders. In addition to providing patient services, WELL
develops, integrates, and sells its own suite of technology
software and solutions to medical clinics and healthcare
practitioners. WELL's practitioner enablement platform includes:
Electronic Medical Records ("EMR"), telehealth platforms, practice
management, billing, Revenue Cycle Management ("RCM"), digital
health apps and data protection solutions. 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 the
Company, please visit: www.well.company.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/well-ventures-launches-the-well-ai-investment-program-301807985.html
SOURCE WELL Health Technologies Corp.