HEALWELL AI

HEALWELL AI is a healthcare technology company focused on empowering patients and doctors with advanced technologies to increase access, improve quality, and reduce healthcare costs. HEALWELL AI is implementing a strategy that revolves around the development and acquisition of technology and clinical sciences capabilities that align with the company’s roadmap.

<div>HEALWELL AI, formerly known as MCI Onehealth Technologies, is a healthcare technology and data science company focused on preventative care. The company aims to provide AI-enabled decision support systems for healthcare providers.</div>

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

Healwell AI invests $2.7 million CAD into Elon Musk’s xAI to tap into company’s expertise, resources

Takeda

To drive real-world evidence analysis for rare diseases, particularly focusing on supporting patients suffering from hereditary angioedema (HAE) with normal C1 inhibitor across Canada.

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 HEALWELL AI, formerly known as MCI Onehealth Technologies, is a healthcare technology and data science company focused on preventative care. The company aims to provide AI-enabled decision support systems for healthcare providers.
 
 
 The company's core solution, WELL AI Decision Support is an AI-powered physician co-pilot tool that can accurately identify over 110 complex or rare diseases often overlooked by traditional methods. It features advanced chronic disease screening capabilities for conditions like chronic kidney disease, hypertension, and diabetes, enabling patient risk stratification.
 
 
 In 
 <a href="https://sp-edge.com/updates/24020">
 November 2023
 </a>
 , the company acquired a majority stake in Pentavere Research Group, a HealthTech company, for strategic expansion and diversification. Furthermore, in 
 <a href="https://sp-edge.com/updates/30339">
 June 2024
 </a>
 , it acquired VeroSource Solutions, a company specializing in data solutions and digital healthcare platforms, for approximately USD 24.5 million.
 
 
 The company was formed in October 2023, when it completed a 
 <a href="https://healwell.ai/wp-content/uploads/2023/10/2023-10-02-HealWELL-Press-Release-Closing-of-WELL-Transaction.pdf">
 strategic transaction
 </a>
 with WELL Health Technologies. In 
 <a href="https://sp-edge.com/updates/27111">
 February 2024
 </a>
 the company filed a prospectus to launch a shelf offering of its securities to raise an aggregate of USD 150 million over a period of 25 months.&nbsp;
 
 
 Key customers and partnerships
 
 
 The company&rsquo;s strategic partner is one of the largest healthcare providers in Canada, WELL Health Technologies.
 
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Cardiomo Care is developing noninvasive wearable devices to alert users and caretakers when there are abnormalities in the heartbeat. The company’s AI engine, trained on existing and growing data sets, can predict potential heart issues up to two hours before they occur, enabling early detection and intervention for arrhythmias and other cardiovascular diseases (CVDs).The company's product, CardiomoPatch, is a waterproof, wearable patch capable of long-term wear with a 10-day battery life. The patch monitors a patient's cardiac data, including ECG outputs, breathing, and skin temperature, and transmits the data via a mobile app for analysis by Cardiomo's AI engine.&nbsp;As of May 2024, the company is yet to commercialize its product and has over 1,600 pre-orders.

Cardiomo Care

Omada is a prevention-focused digital therapeutics startup that helps members achieve health goals through lifestyle changes. It offers four evidence-based, virtual prevention programs for managing hypertension, musculoskeletal (MSK) issues, prediabetes, and diabetes.Omada offers real-time data tracking through connected devices (such as wireless scales, blood pressure, and glucose monitors) and access to personalized coaching sessions via a mobile app as part of its prevention program. It also provides an online community of peers with similar health conditions to discuss challenges and provide support. In May 2021, Omada became the first fully-virtual healthcare provider to earn the National Committee for Quality Assurance’s Population Health Program Accreditation for its type 2 diabetes and type 2 diabetes + hypertension programs.Unlike its peers, Omada operates a performance-based business model where it charges clients an enrollment fee based on the number of users and a performance fee based on how much weight their employees lose. In May 2020, the company acquired virtual physical therapy startup Physera.Key customers and partnershipsAs of May 2024, Omada had more than 1 million members from more than 1,900 enterprise clients across all 50 US states. Its B2B employer and health plan client base include key clients such as American Eagle, Kaiser Permanente, Costco Wholesale, 3M, and Marvin. Additionally, the company has partnered with health systems and hospitals such as Intermountain Healthcare to provide its preventive programs as a covered benefit.In <a href="https://sp-edge.com/updates/15587">January 2023</a>, the company partnered with health service company Castell (a subsidiary of Intermountain Healthcare) to provide its diabetes programs to members from Intermountain Healthcare’s primary care providers in its Utah Medical Group. Further in <a href="https://sp-edge.com/updates/25245">January 2024</a>, the company partnered with Amazon to expand access to its cardiometabolic program.

Omada Health

VillageMD provides primary care services for patients. It also provides tools, technology, and staffing support needed for physicians to deliver high-quality services. VillageMD’s service delivery methods include traditional freestanding clinics, Village Medical at Walgreens co-located clinics, as well as at-home and around-the-clock virtual visits. It also leverages a team-based approach to care where physicians lead nurse practitioners, pharmacists, mental health specialists, and dietitians to offer a holistic care program. The technology of VillageMD includes docOS, an operating system that enables better patient care by connecting various clinical source systems with ongoing patient-generated data coupled with an AI engine to continuously analyze messages to enable patient self-care.The company made several acquisitions to expand its footprint: 1) <a href="https://sp-edge.com/updates/14347">Summit Health</a> for USD 8.9 billion in November 2022, 2) Healthy Interactions, an interactive patient education platform, in February 2022, and 3) <a href="https://sp-edge.com/updates/16968">Starling Physicians</a>, a primary care and specialty care provider, in March 2023.Key customers and partnershipsIn June 2020, VillageMD and Walgreens Boots Alliance announced a collaborative effort to open at least 600 Village Medical centers at Walgreens across more than 30 US markets by 2025. Walgreens invested USD 5.2 billion in VillageMD (from the previously announced USD 1.0 billion), raising its ownership stake to 63% (from 30%).However, as of May 2024, Walgreens had plans to close 160 VillageMD clinics as part of a cost-cutting plan.

VillageMD

Cityblock Health is a value-based healthcare provider focused on delivering comprehensive care to underserved communities, primarily Medicaid and lower-income Medicare beneficiaries. The company combines primary care, behavioral health, and social services to address the complex physical, mental, and social needs of its members.Cityblock's model involves partnering with local community-based organizations and deploying multidisciplinary care teams that include doctors, nurses, behavioral health specialists, and community health workers. These teams provide personalized care through 24/7 access to multi-modal care delivery, including in-home visits, telehealth, and community health hubs.The services of Cityblock are available to members at no additional cost if they are covered by an eligible health plan.Key Customers and PartnershipsAs of May 2024, the company’s services were available in seven states across the US and served over 100,000 members.In May 2024, it partnered with <a href="https://sp-edge.com/updates/29647">Sunshine Health</a> to expand to Florida, and, in <a href="https://sp-edge.com/updates/13270">September 2022</a>, it partnered with MDwise to expand into Indiana. Prior to that, the company had partnered with insurance providers such as ConnectiCare (Connecticut), Tufts Health Plan (Massachusetts), Emblem Health (New York), Healthy Blue (North Carolina), Molina Healthcare (Ohio) and CareFirst (Washington DC).Funding and FinancialsCityblock is a spin-off of Sidewalk Labs, an Alphabet company that incubates and invests in tech companies and products to improve urban infrastructure. It completed a USD 400 million Series D funding round led by Softbank in <a href="https://sp-edge.com/updates/5326">September 2021</a>, valuing the company at USD 5.7 billion. The funds were used to expand its services.

Cityblock Health

Everside Health (formerly Paladina Health) offers preventative care for chronic conditions and primary, mental and occupational healthcare treatments for acute conditions. Patients benefit from around-the-clock access to care, same-day or next-day appointments for in-person, and virtual care visits with zero copays.Everside aims to generate around 17% healthcare cost savings in three years and 31% in five years for its corporate members by leveraging a data-driven approach to care coordination.The company leverages data from past medical records, predictive analytics, and AI in the delivery of preventative care services.Founded in 2010 under the name Paladina Health, the company was rebranded in November 2020 as Everside Health following a merger between three primary care groups (Paladina, Activate Healthcare, and Healthstat). Furthermore, in February 2024, Everside Health merged with primary care provider Marathon Health to form a combined entity that would operate as Marathon Health, and, as of May 2024, the integration was ongoing.Key customers and partnershipPost-merger with Marathon Health, the combined entity would serve 2.5 million patients through over 680 clinics across 41 states.Funding and financialsThe company received its most recent investment in July 2022, amounting to USD 164 million in growth equity funding. The round was led by New Enterprise Associates (NEA). The funds were allocated toward growing its market presence and exploring opportunities for M&amp;A as well as to enhance and improve its product features. Additionally, the firm planned to expand its coverage of specialty care services aimed at individuals, employers, and union organizations.

Everside Health

Platforms offer a subscription-based or B2B-sponsored, evidence-based program for managing a specific long-term health condition.

DPCs offer value-based primary and preventive care services addressing whole-person (social, mental, physical) needs for a fixed monthly or annual fee paid by either the patient, insurance provider, or employer.

Companies offer B2B and D2C evidence-based treatments delivered via software programs to prevent and manage a variety of chronic conditions.

Tools that collect and analyze real-time patient data that supports healthcare providers with clinical decisions,  improves patient outcomes, and reduces medical errors.

Companies offer independent physician practices and hospitals with the tools (patient engagement, care coordination, administrative services) to help manage and improve clinical health outcomes of a defined group of individuals or large populations.

Platforms are used to track and gather patient health-related information via either a connected device or at-home test kits to detect the early onset of disease and identify any abnormalities in readings—but do not include a treatment plan.

To gather large amounts of real-time data for chronic care management, DTx, and patient monitoring

XR used by some startups for chronic pain management

Offers digital means of providing direct primary care, passive remote monitoring, chronic care management, etc.

AI/ML is used in predictive analytics, diagnostics tools, and population management

Offers tailored preventive interventions and treatments to the specific needs and characteristics of each individual

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 The Toronto-based artificial intelligence (AI) healthcare firm, HEALWELL AI, has acquired VeroSource Solutions, a provider specializing in data solutions and digital healthcare platforms, for an estimated USD 24.5 million.
 According to the terms of the deal, HEALWELL is set to purchase 51% of VeroSource's shares for approximately USD 12.5 million in a preliminary transaction likely to close on July 1, 2024. Subsequently, there will be a second transaction where HEALWELL acquires the remaining VeroSource shares for around USD 12 million, expected to close on January 1, 2025. The completion of these transactions is conditional on receiving regulatory approval.
 The aim of HEALWELL is to integrate VeroSource's data amalgamation and visualization tools with its AI-driven disease detection abilities, with the purpose of expanding its digital health offerings across Canada.
 VeroSource delivers healthcare solutions through a cloud-based platform which integrates data from various sources such as electronic medical records, pharmacies, and hospital systems. The company caters to provincial health clients providing them with products and consulting services aimed at improving data management, interoperability, and analysis. As of June 2024, the platform from VeroSource boasted over 1 million users.
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HEALWELL AI

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