Toronto-based AI-powered healthcare company HEALWELL AI has agreed to obtain a majority stake in Pentavere Research Group, a HealthTech company, for strategic expansion and diversification. The acquisition was executed for a total enterprise value of USD 15 million with an upfront cash payment of USD 1.75 million and AIDX stock amounting to USD 4.16 million. Upon closing of the deal, HEALWELL will invest an additional USD 1.2 million to obtain a majority stake and will have the option to buy the remaining stake over the next three years.

Following the acquisition, HEALWELL AI aims to bring in increased revenue, new products, collaborations with major hospital networks in Canada and the US, connections with five key pharmaceutical customers, and an experienced AI engineering team. The addition of Pentavere's data abstraction and structuring capabilities, along with access to hospitals and expertise in medical specialties, is expected to expand HEALWELL's coverage of therapeutic areas and disease indications.

HEALWELL AI (formerly known as MCI Onehealth Technologies) and debuted as a healthcare technology and data science company focused on preventative care in October 2023 . The company aims at providing AI-enabled decision support systems for healthcare providers.

Pentavere is a Toronto-based AI-based HealthTech company known for its DARWEN AI technology. The company's focus is on identifying eligible patients for approved medications and interventions by transforming intricate clinical data into structured, actionable information.