HEALWELL AI Unveils Strategic Divestitures and Transition to a Focused SaaS, Services, and AI Model
HEALWELL's Divestitures: HEALWELL has sold its Polyclinic Family Medicine and Specialty Clinics Group to WELL Health Clinic Network Inc. and its interest in Mutuo Health Solutions Inc. to WELLSTAR Technologies Corp., allowing HEALWELL to focus on its core AI and healthcare software business.
Joint Venture Formation: HEALWELL has established a 50/50 clinical research joint venture with WELL Health Technologies Corp., which includes Bio Pharma Services Inc. and Canadian Phase Onward Inc., aimed at advancing clinical research initiatives.
Financial Impact: The transactions are expected to streamline HEALWELL's operations, enhance its focus on high-growth areas, and strengthen its balance sheet with approximately $9.4 million in cash upon closing.
Strategic Goals: HEALWELL aims to evolve into a pure-play digital SaaS and AI business, leveraging advanced technology to improve healthcare efficiency and outcomes, while maintaining a commitment to interoperability and customer choice.
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