TORONTO - Healwell AI Inc. has completed its strategic acquisition of Pentavere Research Group Inc., a move that is set to bolster its position in the digital healthcare innovation sector. The deal, which was completed today, involves a majority stake acquisition for CAD 5.9 million and is anticipated to create new revenue opportunities and strengthen partnerships within major hospital networks.
The integration of Pentavere's DARWEN technology promises to enhance Healwell's capabilities in data abstraction from medical records. This technological advancement is expected to revolutionize patient outcomes through the combined expertise of both companies.
Healwell CEO Dr. Alexander Dobranowski has lauded the acquisition as a transformative step for Healwell's growth in the healthcare AI field. Aaron Leibtag, CEO of Pentavere, is poised to extend the company's reach and impact through this collaboration.
The transaction enriches Healwell with an experienced AI engineering team and elevates their therapeutic spectrum and disease indications coverage. It also introduces clinical decision support tools via WELL Health (TSX:WELL) Technologies Corp.’s network, potentially improving clinical practices and patient care.
On November 15, it was revealed that Blake Corbet and Erik Danudjaja, among others from Healwell, would join Pentavere's board post-acquisition. Further solidifying their commitment, on December 1, Healwell invested an additional CAD 1.2 million for new treasury shares of Pentavere. This investment secured non-diluted majority ownership and board control rights for Healwell.
The acquisition terms included a payment of CAD 1.75 million in cash and the remainder in AIDX stock at Subordinate Voting Shares' pre-announcement valuation.
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