- Well Health (TSX:WELL) and HealWell AI (TSX:AIDX) are expanding their multi-year alliance agreement to launch and manage clinical trial sites
- The sites are at Well’s clinic locations across Canada, intending to leverage the country’s largest network of primary and specialty care clinics, with over 180 clinics and thousands of healthcare practitioners
- This initiative will utilize HealWell’s contract research organization capabilities alongside Well Health’s extensive network of clinics, positioning the partnership as a formidable player in AI-driven clinical trials and opening up new revenue streams
- Well Health Technologies stock (TSX:WELL) last traded at C$4.37 per share and HealWell AI stock (TSX:AIDX) last traded at C$1.10 per share
Well Health (TSX:WELL) and HealWell AI (TSX:AIDX) are expanding their multi-year alliance agreement to launch and manage clinical trial sites.
The sites are located at Well’s clinic locations across Canada, intending to leverage the country’s largest network of primary and specialty care clinics, with over 180 clinics and thousands of healthcare practitioners.
This initiative will utilize HealWell’s contract research organization capabilities alongside Well Health’s extensive network of clinics, positioning the partnership as a formidable player in AI-driven clinical trials and opening up new revenue streams.
The expanded partnership allows HealWell AI to offer a comprehensive, vertically integrated service that includes patient identification and recruitment, clinical trial architecture and execution, and clinical research data analysis. By providing clinical trial sites within Well Health clinics, the collaboration transforms these locations into hubs of innovation, improving accessibility and directly benefiting patients by bringing experimental treatments to local communities.
Key benefits of this initiative include:
- Enhanced innovation: Transforming Well Health clinics into clinical trial sites fosters innovation and accelerates the development of new treatments.
- Improved accessibility: Patients gain easier access to experimental treatments, enhancing their healthcare options.
- Comprehensive services: HealWell AI’s end-to-end service offering streamlines the clinical trial process, from patient recruitment to data analysis.
- Projected growth: The partnership capitalizes on the combined strengths of Well Health’s healthcare infrastructure and HealWell’s AI technology, potentially transforming the landscape for clinical research in Canada.
“Launching and managing clinical trial sites at Well’s clinic locations across Canada is a powerful and transformational strategic initiative,” Well’s chief medical officer, Dr. Michael Frankel, commented in a news release. “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.”
“Patient identification and recruitment for clinical trials has become an increasingly complex challenge in the global healthcare and life science sectors. Success hinges not only on identifying patients but also on effectively recruiting them and managing their participation – steps that lead to improved outcomes for patients, practitioners and the healthcare system as a wholem” Dr. Alexander Dobranowski, of HealWell’s CEO, added. “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.”
HealWell is a healthcare technology company applying AI and data science to preventative care.
Well Health Technologies develops tech solutions and services to ensure healthcare providers are empowered 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.
Well Health Technologies stock (TSX:WELL) last traded at C$4.37 per share and is up 13.51 per cent since the year began.
HealWell AI stock (TSX:AIDX) last traded at C$1.10 per share and has risen 46.67 per cent since the year began.
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(Top image via WELL Health Technologies Inc.)
