- WELL has launched its new AI-powered physician co-pilot to
assist cardiologists in better identifying patients at high risk of
cardiovascular disease ("CVD"). WELL is exclusively partnering with
HEALWELL AI, a leader in AI enabled disease diagnosis, as an
extension of the WELL AI Decision Support ("WAIDS") product
offering.
- The co-pilot will be deployed into WELL Diagnostic Centres,
Canada's largest cardiology and
medical diagnostic group, providing support and assisting
cardiologists in over 40 locations across Ontario.
- CVD stands as the leading cause of death globally, accounting
for approximately 32% of deaths worldwide in 2019(1),
underscoring the critical need for early detection. HEALWELL also
expects to leverage this technology to help accelerate life
sciences research and development opportunities related to CVD and
drive new business opportunities for its newly acquired Clinical
Research Organization ("CRO"), BioPharma Services Inc.
VANCOUVER, BC and TORONTO, July 17,
2024 /PRNewswire/ - WELL Health Technologies Corp.
(TSX: WELL) (OTCQX: WHTCF) ("WELL" or the
"Company") a digital health company focused on
tech-enabling healthcare providers, and its investee company,
HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL"), a
healthcare technology company focused on AI and data science for
preventative care, are jointly pleased to announce the launch of
WELL's AI-powered co-pilot for cardiologists exclusively powered by
HEALWELL AI, aimed at identifying patients at high risk of
cardiovascular disease ("CVD"). This significant expansion
of WELL's AI capabilities builds on the success of its
second-generation AI-powered physician co-pilot, WELL AI Decision
Support ("WAIDS"), developed exclusively in
partnership with HEALWELL. This enhancement adds to its existing
rare and chronic disease detection abilities and is an extension to
the WAIDS offering.
The co-pilot for cardiologists will be deployed in WELL
Diagnostics Centres, Canada's
largest cardiology and medical diagnostic group with over 40
locations in Ontario. It will be
available to cardiologists within the WELL Diagnostic Centres
ecosystem, providing invaluable support in the early detection and
management of cardiovascular disease.
Dina Sergi, CEO of WELL
Diagnostic Centres, highlighted the tool's impact, "The integration
of HEALWELL's AI-powered co-pilot for cardiologists into our WELL
Diagnostic Centres represents a game-changing advancement. By
offering precise risk stratification and actionable insights, this
tool enhances their ability to proactively manage cardiovascular
health and improve patient care."
Dr. Alexander Dobranowski, CEO of
HEALWELL, commented, "The launch of our AI-powered co-pilot for
specialists marks a significant milestone in our mission to enhance
healthcare through advanced technology. By expanding our AI
capabilities to include cardiovascular disease detection, we are
equipping cardiologists with enhanced tools and decision support
necessary to identify at-risk patients earlier, ultimately
improving patient outcomes and reducing healthcare costs. The
integration of this tool into WELL's Diagnostic Centres is
particularly important, as it provides us access to Canada's largest cardiology group. This vast
dataset not only assists hundreds of cardiologists within the WELL
Diagnostic Centres ecosystem but also allows us to continuously
refine and enhance the co-pilot."
Dr. Paul Kannampuzha, Chief
Cardiology Officer of WELL Diagnostic Centres commented. "As a
cardiologist, I am encouraged by how AI can help provide improved
disease detection and decision support for cardiologists across the
country. I believe this technology will help drive improved
preventative care and ensure patients don't fall through the
cracks."
Cardiovascular disease (CVD) is a group of disorders affecting
the heart and blood vessels and is the leading cause of death
globally, responsible for approximately 32% of deaths worldwide in
2019(1). In Canada,
recent estimates suggest that CVD costs about $22 billion per year and is considered the second
leading contributor to healthcare costs(2). Identifying
patients with worsening cardiovascular conditions earlier is
crucial, as cardiovascular disease is the third leading cause of
death in Canada.
The global market for pharmaceutical drugs supporting
cardiovascular disease was valued at approximately USD 144.1 billion in 2023. It is projected to
grow at a compound annual growth rate (CAGR) of approximately 4%
over the next decade, reaching an estimated USD 207.8 billion by 2033 (Precedence
Research)(3). HEALWELL expects to leverage this
technology to help accelerate life sciences research and
development opportunities related to CVD and drive new business
opportunities for its newly acquired Clinical Research Organization
(CRO), BioPharma Services Inc.
Footnotes:
-
https://www.who.int/news-room/fact-sheets/detail/cardiovascular-diseases-%28cvds%29
-
https://link.springer.com/article/10.1007/s41669-021-00257-8
-
https://www.precedenceresearch.com/cardiovascular-drugs-market
About WELL Health Technologies Corp.
WELL's mission is to tech-enable healthcare providers. We do
this by developing the best technologies, services, and support
available, which ensures healthcare providers are empowered to
positively impact patient outcomes. WELL's comprehensive healthcare
and digital platform includes extensive front and back-office
management software applications that help physicians run and
secure their practices. WELL's solutions enable more than 34,000
healthcare providers between the US and Canada and power the largest owned and
operated healthcare ecosystem in Canada with more than 175 clinics supporting
primary care, specialized care, and diagnostic services. In
the United States WELL's solutions
are focused on specialized markets such as the gastrointestinal
market, women's health, primary care, and mental health. 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 WELL, please visit: www.well.company.
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 AI technology and
competencies which includes data science, electronic health records
and clinical research offerings, 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 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, the
deployment of WAIDS at WELL Health Diagnostic Centres, the use of
the WAIDS to improve patient care, and the use of AI technology by
HEALWELL to drive research and development opportunities related to
CVD. Forward-looking statements are often, but not always,
identified by words or phrases such as "opportunity", "potential",
"improve", "expect", "intend", "create" 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 ability of HEALWELL
to utilize AI technologies to detect CVD indicators; the ability to
collaborate with the pharmaceutical industry for research and
development opportunities, HEALWELL's continued compliance with
third party intellectual property rights; HEALWELL's continued
compliance with privacy laws; 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. 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.
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SOURCE WELL Health Technologies Corp.