Well Health Technologies and HealWell AI are expanding their multi-year alliance to launch and manage clinical trial sites within Well Health's clinic locations across Canada. This initiative aims to leverage Canada's extensive network of primary and specialty care clinics, encompassing over 180 locations and thousands of healthcare practitioners.
AI-Driven Clinical Trial Network
The collaboration will utilize HealWell's contract research organization (CRO) capabilities alongside Well Health's network of clinics, positioning the partnership as a significant player in AI-driven clinical trials. This expansion allows HealWell AI to offer a comprehensive, vertically integrated service, including patient identification and recruitment, clinical trial architecture and execution, and clinical research data analysis.
Transforming Clinics into Innovation Hubs
By providing clinical trial sites within Well Health clinics, the collaboration aims to transform these locations into hubs of innovation. This approach seeks to improve accessibility and directly benefit patients by bringing experimental treatments to local communities. Key benefits of this initiative include enhanced innovation, improved accessibility to experimental treatments, comprehensive service offerings, and projected growth.
Executive Insights
"Launching and managing clinical trial sites at Well's clinic locations across Canada is a powerful and transformational strategic initiative," said Dr. Michael Frankel, Well's chief medical officer. "This initiative will allow Well and HealWell to capitalize on their combined strengths in healthcare infrastructure and AI technology, potentially transforming the landscape for clinical research."
Dr. Alexander Dobranowski, CEO of HealWell, added, "Patient identification and recruitment for clinical trials has become an increasingly complex challenge in the global healthcare and life science sectors. Through our established late-stage contract research organization, Canadian Phase Onward, HealWell has already made significant strides in accelerating the recruitment process, but the growing network of Well clinics is an opportunity for us to execute our plans at scale. Ultimately, this service will be a benefit to doctors, healthcare practitioners and patients alike while reducing the cost of clinical trials and shortening their timelines."
Company Information
HealWell AI is a healthcare technology company focused on applying AI and data science to preventative care. Well Health Technologies develops tech solutions and services to empower healthcare providers to positively impact patient outcomes. Its solutions enable more than 31,000 healthcare providers across the United States and Canada and power the largest owned and operated healthcare ecosystem in Canada, with more than 148 clinics.
As of the latest trading, Well Health Technologies stock (TSX:WELL) was at C$4.37 per share, up 13.51 per cent year-to-date, and HealWell AI stock (TSX:AIDX) was at C$1.10 per share, up 46.67 per cent year-to-date.
