HEALWELL AI Inc., a data science and AI company focused on preventative care, is pleased to announce it has completed the previously announced acquisition of a majority ownership position in Pentavere Research Group Inc., an innovative AI health-tech company based in Toronto, Ontario, that focuses on identifying eligible patients for approved medications and interventions. Pentavere has a proven track record in commercialization of real-world evidence studies and has developed strong partnerships with major hospital networks. Pentavere’s expertise in data abstraction and structuring, combined with their extensive network and experience in hospital specialist care, perfectly aligns with HEALWELL’s commitment to improving preventative care.
This acquisition adds new high margin technology revenue, access to multiple new key pharmaceutical company and life sciences customers, new products, partnerships with major hospital networks in Canada and the United States, as well as an experienced and sophisticated AI engineering team. HEALWELL’s majority acquisition of Pentavere further solidifies its standing as a world-class AI technology provider. Both companies are already working on unlocking new innovations, driving unprecedented advancements and setting the stage for a transformative era in digital healthcare.
The capabilities of HEALWELL and Pentavere in combination with the Company’s partnership with WELL Health Technologies Corp. allow HEALWELL to accelerate its strategic roadmap and tackle high value problems in the healthcare industry. Moreover, the expanded capacity from adding the Pentavere team will deepen HEALWELL’s ability to unlock the value of its partnership with WELL for the delivery of clinical decision support capabilities to WELL’s healthcare providers.
Dr. Alexander Dobranowski, CEO of HEALWELL, commented on the acquisition, “We are thrilled to welcome Pentavere to the HEALWELL family. This marks our first acquisition in the healthcare technology space, signifying a pivotal moment in HEALWELL history. The addition of Pentavere’s data abstraction and structuring capabilities, combined with its access to hospitals and expertise in hospital based medical specialities, will significantly broaden HEALWELL’s therapeutic and disease indication spectrum. Being one of the leading technology assets in healthcare AI in Canada, Pentavere is a perfect example of our commitment to revolutionizing the industry through establishing and consolidating leading healthcare technologies.”
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Mr. Aaron Leibtag, Co-Founder and CEO of Pentavere, stated, “We are excited to be joining HEALWELL in their mission of advancing patient outcomes through data science and AI technologies. Partnering with HEALWELL will not only enhance the impact of our solutions but also enable us to take a major leap forward in introducing our ground-breaking platform to larger healthcare networks and additional jurisdictions. We are excited about the potential of our combined capabilities and look forward to revolutionizing the healthcare industry together with HEALWELL.”
Pentavere’s DARWEN™ AI technology has been validated by some of the largest pharmaceutical companies in the world and whose research has been published by some of the most prestigious publications globally; adding substantially to the growing body of evidence in support of HEALWELL’s AI technologies. DARWEN™ enables the automation of data abstraction from unstructured electronic medical records. With the advanced DARWEN™ platform, Pentavere has developed vital partnerships and secured data-access agreements with major hospital networks in Canada and the United States.
Pentavere has a validated history of delivering impactful AI-solutions to the healthcare industry. With a strong pedigree and commercial track record of delivering complex AI-driven real-world evidence (RWE) studies, Pentavere’s extensive experience working with some of the world’s largest pharmaceutical companies underscores its reputation in the commercial sector. Pentavere’s impressive research contributions serve as a testament to its capabilities and adds significant credibility, particularly in the eyes of healthcare experts, key opinion leaders and clinical researchers.
HEALWELL has acquired a majority ownership position of Pentavere in a combined primary and secondary transaction, with transaction details as previously announced on November 15, 2023. In conjunction with closing, Pentavere appointed Dr. Alexander Dobranowski, HEALWELL’s CEO, Mr. Blake Corbet, HEALWELL’s SVP Corporate Development, and Mr. Erik Danudjaja, Board Director at HEALWELL, as HEALWELL’s three director nominees to Pentavere’s board of directors.
SOURCE: GlobeNewswire
