• Hamed Shahbazi, Founder, Chairman and CEO of WELL Health Technologies has been appointed Chairman of HEALWELL AI, a worldwide chief in AI powered preventative care.

• Mr. Shahbazi’s appointment is strategically necessary for shareholders of each WELL and HEALWELL given the shared goal between the businesses to create essentially the most superior and straightforward to make use of AI impressed instruments that may equip care suppliers with varied ‘Co-Pilots’ that may assist them enhance prognosis of uncommon and continual ailments, enhance effectivity of their observe, and enhance affected person well being outcomes.

• WELL is at present the most important shareholder of HEALWELL with possession of 20.7% of the corporate’s issued and excellent voting securities. WELL additionally has an possibility to accumulate roughly 30 million multi-voting shares that may give WELL a controlling place in HEALWELL, as outlined on an IFRS monetary reporting foundation.

VANCOUVER, British Columbia and TORONTO, Feb. 27, 2024 (GLOBE NEWSWIRE) — WELL Health Technologies Corp. (“WELL”) (TSX: WELL, OTCQX: WHTCF), a digital healthcare firm centered on positively impacting well being outcomes by leveraging know-how to empower healthcare suppliers and their sufferers globally, and HEALWELL AI Inc. (“HEALWELL”) (TSX: AIDX, OTCQX: HWAIF), a healthcare know-how firm centered on AI and knowledge science for preventative care, are happy to announce the appointment of Hamed Shahbazi as Chairman of the Board of HEALWELL. Mr. Hamed Shahbazi is at present the Chairman and CEO of WELL, Canada’s largest proprietor operator of outpatient medical clinics and main digital well being service offering software program and providers to a couple of third of all Canadian physicians. Mr. Shahbazi has served on the Board of HEALWELL since its launch on October 1, 2023. Mr. Shahbazi’s appointment to Chairman of HEALWELL is strategically necessary for shareholders of each WELL and HEALWELL given WELL’s fairness possession of HEALWELL, its choice to turn into a controlling shareholder primarily based on an possibility to accumulate multi-voting shares (see particulars beneath) and the shared goal between the businesses to leverage AI and different modern applied sciences to help healthcare suppliers.

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Hamed Shahbazi, Founder and CEO of WELL commented on his appointment, “As a co-founder of HEALWELL, I am personally very proud and excited to take on the role of Chairman for HEALWELL AI given the enormous importance of the shared mission and objective we have between WELL and HEALWELL. WELL exists to tech enable health care providers and there isn’t a more important objective in our company and industry right now than to support our healthcare providers given the enormous burdens they currently face without adequate tools or assistance. Our objective together with HEALWELL is to create the most advanced and easy to use AI inspired tools that can equip providers with various co-pilots that can help diagnose rare and chronic diseases, improve efficiency of their practice, and help improve patient health outcomes.”

Mr. Shahbazi continued, “WELL has already invested significantly in HEALWELL and we will continue to invest more time, resources and support for the long-term to ensure that HEALWELL is a world class company and leader in delivering AI-powered preventative care to millions of patients.”

Mr. Shahbazi is the Founder, Chief Executive Officer, and Chairman of WELL and has over 25 years of expertise as a know-how centered operator and govt. Over the previous six years, Mr. Shahbazi has led WELL to turn into the main digital healthcare firm in Canada, profitably approaching one billion {dollars} in annual income and having a major constructive impression on the business. Previously, he based TIO Networks a multichannel cost resolution supplier, specializing in invoice cost and different monetary providers, which was acquired by PayPal in July 2017. Over his profession, Mr. Shahbazi has gained in depth expertise in strategic mergers & acquisitions, each as an operator and board member with greater than 80 profitable transactions price greater than $2 billion.

Concurrent to Mr. Shahbazi’s appointment, Mr. Kingsley Ward shall be stepping down from HEALWELL’s Chairman place however will proceed to function an Independent Director on HEALWELL’s board.

Dr. Alexander Dobranowski, Co-founder, and CEO of HEALWELL commented, “I would like to extend my sincerest thanks to Kingsley for his contributions and invaluable leadership as Chairman, especially through the months preceding the debut of HEALWELL. As we continue this exciting journey of building a leading healthcare artificial intelligence company, we are excited to welcome Hamed into the role as Chairman. Hamed’s experience as one of the most significant capital allocators in the Canadian corporate landscape and his growing success in building one of the most important health care companies in Canada make him exceptionally well-suited for this role.”

On October 1, 2023, HEALWELL introduced a strategic alliance settlement with WELL to speed up the expansion and improvement of its AI-enabled healthcare applied sciences and to leverage these applied sciences for the good thing about the care suppliers in WELL’s expansive community which not solely contains WELL’s personal community of outpatient clinics which ranks as the most important within the nation but in addition its provider-centric digital platform which touches greater than a 3rd of all care suppliers in Canada. Subsequent to this announcement, WELL launched its personal scientific resolution help product branded as “WELL AI Decision Support”. This product leverages synthetic intelligence (AI) applied sciences to assist suppliers allow the sooner prognosis, remedy, and improved high quality of life for sufferers. The applied sciences behind WELL AI Decision Support are solely developed and equipped by HEALWELL and have been meticulously developed in shut collaboration with devoted physicians, main researchers, knowledge privateness professionals, pharmaceutical corporations, and different area specialists. For extra data on WELL AI Decision help, please go to: https://decisionsupport.wellhealth.ai.

WELL is at present the most important shareholder of HEALWELL with an possibility that may give WELL a management place in HEALWELL, as outlined on an IFRS monetary reporting foundation. WELL at present holds 22.7 million shares of HEALWELL, thereby representing 20.7% of the issued and excellent voting securities of HEALWELL. WELL’s name possibility provides WELL the suitable to accumulate as much as a further roughly 30 million Class A Subordinate Voting Shares and the identical variety of Class B Multiple Voting Shares of the Company. The name possibility is out there to WELL on October 1, 2025, and is exercisable till October 1, 2026, except HEALWELL meets particular efficiency milestones designed to show enhancements in monetary efficiency, by which case WELL could train its possibility earlier.

Hamed Shahbazi
Chief Executive Officer, Chairman and Director
WELL Health Technologies Corp.

Dr. Alex Dobranowski,
Chief Executive Officer
HEALWELL AI Inc.

About WELL Health Technologies Corp.

WELL’s mission is to tech-enable healthcare suppliers. We do that by growing one of the best applied sciences, providers, and help obtainable, which ensures healthcare suppliers are empowered to positively impression affected person outcomes. WELL’s complete healthcare and digital platform contains in depth entrance and back-office administration software program functions that assist physicians run and safe their practices. WELL’s options allow greater than 33,000 healthcare suppliers between the US and Canada and energy the most important owned and operated healthcare ecosystem in Canada with greater than 150 clinics supporting main care, specialised care, and diagnostic providers. In the United States, WELL’s options are centered on specialised markets such because the gastrointestinal market, ladies’s well being, main care, psychological well being, income cycle administration, and practitioner recruiting. WELL is publicly traded on the TSX underneath the image “WELL” and on the OTC Exchange underneath the image “WHTCF”. To be taught extra concerning the Company, please go to: www.well.company.

About HEALWELL AI Inc.

HEALWELL is a healthcare know-how firm centered on AI and knowledge science for preventative care. Its mission is to enhance healthcare and save lives by early identification and detection of illness. Using its personal proprietary know-how, the Company is growing and commercializing superior scientific resolution help techniques that may assist healthcare suppliers detect uncommon and continual ailments, enhance effectivity of their observe and finally assist enhance affected person well being outcomes. HEALWELL is executing a technique centered round growing and buying know-how and scientific sciences capabilities that complement the Company’s street map. HEALWELL is publicly traded on the Toronto Stock Exchange (the “TSX”) underneath the image “AIDX” and on the OTC Exchange underneath the image “HWAIF”. To be taught extra about HEALWELL, please go to https://healwell.ai/.

Forward-Looking Statements

Certain statements on this press launch, represent “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) inside the that means of relevant Canadian securities legal guidelines and are primarily based on assumptions, expectations, estimates and projections as of the date of this press launch. Forward-looking statements on this press launch contains with out limitation statements regarding HEALWELL’s and WELL’s anticipated advantages and synergies from having Mr. Shahbazi appointed as Chairman, WELL’s anticipated 2024 income; WELL and HEALWELL’s future plans together with it’s capability to execute on the strategic alliance settlement to develop and market AI instruments and merchandise; HEALWELL’s future development prospects and enterprise outlook, and the long run circumstances of the healthcare and healthcare AI market. Readers are cautioned to not place undue reliance on forward-looking statements. Actual outcomes and developments could differ materially from these contemplated by these statements.

Forward-looking statements are sometimes, however not at all times, recognized by phrases or phrases akin to “to become”, “improve”, “growth”, “ensuring”, “continue”, “anticipated”, “expects”, “proceed”, “potential”, “future”, “consider”, “result in”, “increase”, “deliver”, “emerging”, “is poised”, “plan”, “position”, “opportunities”, “expansion”, “exercise”, “ensure”, “achieve”, “acquire”, “complete”, “satisfy”, “entitle”, “subject to” or variations of such phrases and phrases or statements that sure future circumstances, actions, occasions or outcomes “will”, “may”, “could”, “would”, “should”, “might” or “can” be taken, happen or be achieved, or the destructive of any of those phrases . Forward-looking statements are essentially primarily based upon administration’s perceptions of historic tendencies, present circumstances and anticipated future developments, in addition to numerous particular components and assumptions that, whereas thought-about cheap by WELL and HEALWELL as of the date of such statements, are exterior of WELL and HEALWELL’s management and are inherently topic to vital enterprise, financial and aggressive uncertainties and contingencies which might outcome within the forward-looking statements finally being fully or partially incorrect or unfaithful. Forward-looking statements contained on this press launch are primarily based on varied assumptions, together with, however not restricted to, the next: the satisfaction of any extra circumstances by the TSX or securities fee. Although each WELL and HEALWELL’s administration believes that the assumptions made and the expectations represented by such data are cheap, there might be no assurance that the forward-looking statements will show to be correct. By their nature, forward-looking statements are topic to inherent dangers and uncertainties that could be common or particular and which give rise to the chance that expectations, forecasts, predictions, projections, or conclusions won’t show to be correct, that assumptions will not be appropriate, and that aims, strategic targets and priorities won’t be achieved.

Known and unknown danger components, a lot of that are past the management of WELL and HEALWELL, might trigger the precise outcomes to vary materially from the outcomes, efficiency, achievements, or developments expressed or implied by such forward-looking statements. Such danger components embrace however will not be restricted to these components that are mentioned underneath the part entitled “Risk Factors” in WELL’s most up-to-date annual data kind dated March 27, 2023, and in HEALWELL’s preliminary quick kind base shelf prospectus dated January 19, 2024, each of which can be found underneath their respective SEDAR+ profile at www.sedarplus.com. The danger components will not be supposed to symbolize an entire listing of the components that might have an effect on WELL and HEALWELL, and the reader is cautioned to think about these and different components, uncertainties and potential occasions rigorously and to not put undue reliance on forward-looking statements. There might be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Forward-looking statements are supplied for the aim of offering details about administration’s expectations and plans regarding the long run. Further, these forward-looking statements are made as of the date of this information launch and, besides as expressly required by relevant legislation, WELL and HEALWELL disclaims any intention or obligation to replace or revise any forward-looking statements whether or not on account of new data, future occasions or in any other case, or to clarify any materials distinction between subsequent precise occasions and such forward-looking statements, besides to the extent required by relevant legislation. All of the forward-looking statements contained on this press launch are certified by these cautionary statements.

For extra data:

Tyler Baba
Manager, Investor Relations,
WELL Health Technologies Corp.
Phone: 604-628-7266
investor@well.company

Pardeep S. Sangha
Investor Relations,
HEALWELL AI Inc.
Phone: 604-572-6392
ir@healwell.ai