-
HEALWELL launches in the U.S. market a suite of AI enabled tools to complement Orion Health’s established software offerings in the U.S.
-
This will bring together HEALWELLs globally validated AI capabilities with Orion Health’s best-in-class health data infrastructure software creating a unique offering for the U.S. market.
-
This U.S. market launch leverages Orion Health’s deep U.S. sector experience, existing U.S. footprint and multi-decade track record of delivering health data infrastructure software to customers in eight U.S. states.
-
US digital-health market spend reached $160.4 billion in 2024 and is forecast to grow at a 15.4% CAGR from 2025 to 2033 to reach $695.2 billion by 20331. As the U.S. healthcare sector is the largest globally; HEALWELL views the U.S. market as a key jurisdiction of focus.
TORONTO, ON, June 11, 2025 – HEALWELL AI Inc. (“HEALWELL” or the “Company”) (TSX: AIDX) (OTCQX:HWAIF), a healthcare artificial intelligence company focused on preventative care, is pleased to announce a strategic expansion into the U.S. healthcare market, aligning the group’s direction following its acquisition of Orion Health. This move marks a major milestone in HEALWELL’s mission to advance preventative care through AI-driven insights and trusted health data infrastructure.
With over two decades of experience in the U.S, Orion Health has built a strong foundation supporting health information exchanges (HIEs), accountable care organizations (ACOs), clinically integrated networks (CINs), payers, and health systems. Its technology powers clinical data exchange across eight states, enabling thousands of clinicians to access health information for millions of patients, every day. This embedded presence will give HEALWELL immediate reach and credibility in one of the world’s largest and most complex healthcare environments.
To support this strategic expansion, HEALWELL has established dedicated U.S. and Canadian teams, reflecting the distinct regulatory, funding, and market dynamics of each region.
“Orion has had a material presence in the USA for over two decades,” said Brad Porter, Chief Commercial Officer at HEALWELL. “We now have a unique opportunity to accelerate value for our customers by combining Orion’s trusted platform with HEALWELL’s next-generation AI capabilities. The robust clinical validation and data lineage features differentiates these tools in the market and ultimately reduces friction with regards to clinical adoption.”
HEALWELL’s U.S. strategy will focus on the delivery of value-based care and population health initiatives through two critical capabilities: health data infrastructure and a suite of AI-enabled tools to be made available as a compelling offering to ACOs, CINs, HIEs, payers and health systems.
As regulatory frameworks like TEFCA along with convergence of standards towards FHIR reshape the national data landscape, HEALWELL is introducing a modular, FHIR-native repository to work alongside Orion’s robust HL7-based data repository. This approach enables a TEFCA-ready, standards-aligned architecture that supports longitudinal patient records, interoperability, and real-time data sharing, while providing a clear upgrade path for existing HIEs and provider networks.
Complementing this foundation is HEALWELL’s growing suite of AI tools which will be introduced to the market, including AI-enabled clinical search, AI-enabled clinical summarisation and AI-enabled patient identification and risk stratification. These tools are designed to integrate seamlessly into existing clinical infrastructure, helping care teams surface insights faster, reduce administrative burden, and improve clinical outcomes.
“The demand for clinically validated and explainable AI is growing fast,” said Dr. Alexander Dobranowski, CEO of HEALWELL. “Our ability to embed these tools into existing systems rather than replace them means we can drive impact quickly, without disrupting workflows.”
To deepen its U.S. market presence, HEALWELL will also focus on strategic partnerships and M&A. Dr. Dobranowski adds, “As highlighted by our track record, we will be continuing to evaluate U.S. oriented partnerships, acquisition opportunities and organic expansion to ensure capital allocation matches the ambition of HEALWELLs purpose of enabling the adoption of AI driven preventative care.”
Beyond providers and public health systems, HEALWELL also sees growing demand from the life sciences sector, where real-world evidence (RWE) generation, decentralized clinical trial orchestration, and identifying gaps in patient care are increasingly common. With established life sciences partnerships and a platform built for scalability, HEALWELL is well-positioned to support clinical research, clinical development, and outcomes-based engagement in the U.S. market. HEALWELL’s subsidiaries Pentavere and Khure Health have an established track record with U.S. life sciences and health system organizations and are currently commercially active with 7 of the top 10 largest pharmaceutical companies globally.
“We’re seeing real traction and a path to significant growth,” said James Lee, incoming CEO of HEALWELL. “We’re making excellent progress on integration and go-to-market plans, and we’re seeing significant opportunities to both expand responsibly and rationalize expenses to improve operating margins. We’re at the start of the curve in proving how AI can improve patient outcomes and help healthcare systems become more targeted with their resources. It’s an exciting time for the industry.”
HEALWELL’s U.S. oriented portfolio of capabilities will include HEALWELL Data as a Service, a FHIR complaint data store and a growing suite of AI-enabled tools that support clinical search, patient clinical summarisation, patient identification and patient risk stratification. These capabilities complement Orion Health’s established and scaled U.S. offerings, including Amadeus Digital Care Record, Virtuoso Digital Front Door, and Communicate Direct Secure Messaging, creating an integrated platform that will deliver both infrastructure and intelligence to the frontlines of care.
First Quarter 2025 Financial Highlights
Significant financial highlights for the Company’s continuing operations during the three months ended March 31, 2025 included:
- HEALWELL achieved quarterly revenue from continuing operations of $14.1 million in Q1-2025, an increase of 208% compared to revenue of $4.6 million generated in Q1-2024.
- HEALWELL achieved Gross Profit of $6.5 million during Q1-2025, an increase of 226% compared to $2.0 million in Q1-2024. The increase in Gross Profit is primarily attributed to increase in Khure Health revenue and acquisitions over the past year including Pentavere, Intrahealth, Verosource, Biopharma and Mutuo.
- HEALWELL achieved a Gross Margin percentage of 46% during Q1-2025, compared to 44% in Q1-2024.
- During Q1-2025, HEALWELL reported an Adjusted EBITDA loss of $3.3 million, compared to an Adjusted EBITDA loss of $2.5 million in Q1-2024.
- As of March 31, 2025, HEALWELL had $18.4 million in cash, compared to $9.4 million as of December 31, 2024. The Company also had $86.6 million cash that was advanced for its acquisition of Orion, which was completed on April 1, 2025.
First Quarter 2025 Business and Operational Highlights
Significant business and operational highlights for the Company during the three months ended March 31, 2025 included:
- $25.5M Equity Tranche Completion: On January 21, 2025, HEALWELL announced the closing of the first tranche of its Bought Deal Acquisition Financing, raising aggregate gross proceeds of approximately $25.5 million.
- $30M Convertible Debt Tranche Closure: On January 28, 2025, HEALWELL announced the closing of the second tranche of its Bought Deal Acquisition Financing, raising aggregate gross proceeds of $27.3 million, after taking into account the OID (Original Issue Discount) on the underlying debentures.
- Strategic Cost Optimization Initiative: On February 3, 2025, HEALWELL provided a corporate update highlighting a cost optimization initiative aimed at streamlining operations and maximizing M&A efficiencies. The Company expects to achieve at least $3.0 million in annual cost savings, reinforcing its commitment to operational excellence.
- $50M Credit Agreement Led by Scotiabank and RBC to Support Orion Acquisition: On February 26, 2025, HEALWELL announced the signing of a $50 million credit agreement, led by Scotiabank and RBC, to support its acquisition of Orion Health. The financing includes a $20 million term loan and a $30 million revolving credit facility, with an additional uncommitted accordion feature of up to $25 million. Combined with recent capital raises, HEALWELL has secured over $100 million in funding for the Orion Health acquisition.
Events Subsequent to March 31, 2025
Significant business and operational highlights for the Company subsequent to March 31, 2025 included:
- Acquisition of Orion Health: On April 1, 2025, HEALWELL completed the acquisition of Orion Health, a leading provider of healthcare data interoperability solutions based in Auckland, New Zealand. This acquisition establishes HEALWELL as a global leader in healthcare AI and interoperability, with the combined company poised to deliver innovative healthcare solutions at scale across multiple regions.
- Exercise of Call Option by WELL Health: On April 1, 2025, WELL Health Technologies exercised its call right to acquire a majority controlling interest in HEALWELL AI, coinciding with HEALWELL’s acquisition of Orion Health. As part of this strategic move, WELL acquired 30.8 million Class A Subordinate Voting Shares and 30.8 million Class B Multiple Voting Shares of HEALWELL. Additionally, WELL converted all of its convertible debentures and exercised all outstanding share purchase warrants, resulting in ownership of approximately 37% of the economic interest and 69% of the voting rights in HEALWELL on a non-diluted basis.
- Strategic Changes to Executive Leadership Team: On April 23, 2025, HEALWELL announced strategic changes to its executive leadership team to support its next phase of integration and growth. Effective July 1, 2025, Mr. James Lee will be appointed Chief Executive Officer, bringing over two decades of leadership in financial services and strategic transformation. Dr. Alexander Dobranowski, founding CEO, will transition to the role of President, where he will focus on large enterprise AI initiatives and capital markets strategy. The Company also welcomed Sacha Gera as Chief Operating Officer to drive operational execution and technology alignment, and Brad Porter as Chief Commercial Officer to oversee revenue growth and go-to-market strategy across HEALWELL and Orion Health. These changes are designed to unlock further synergies from recent acquisitions and position HEALWELL to capitalize on a growing global demand for AI-enabled healthcare solutions.
Webcast and Conference Call Details:
HEALWELL will be holding a conference call and simultaneous webcast to discuss its financial results on Tuesday, May 13, 2025 at 1:00 pm ET (10:00 am PT). The call will be hosted by Dr. Alexander Dobranowski, Chief Executive Officer, and Anthony Lam, Chief Financial Officer. Please dial-in 10 minutes prior to the start of the call.Date: Tuesday, May 13, 2025
Time: 1:00 PM ET / 10:00 AM PT
Webcast link: https://www.gowebcasting.com/14053
Toll-Free North America: 1-833-752-3509
International Toll: 1-647-846-7993
When connecting to the conference call via phone, please dial in 10 minutes prior to the start of the call and ask to be joined into the “HEALWELL AI Inc. Conference Call.”
Dr. Alexander Dobranowski
Chief Executive Officer
HEALWELL AI Inc.
1 https://www.imarcgroup.com/united-states-digital-health-market?
HEALWELL is a healthcare artificial intelligence company focused on preventative care. Its mission is to improve healthcare and save lives through early identification and detection of disease. Using its own proprietary technology, the Company is developing and commercializing advanced clinical decision support systems that can help healthcare providers detect rare and chronic diseases, improve efficiency of their practice and ultimately help improve patient health outcomes. HEALWELL is executing a strategy centered around developing and acquiring technology and clinical sciences capabilities that complement the Company’s road map. HEALWELL is publicly traded on the Toronto Stock Exchange under the symbol “AIDX” and on the OTC Exchange under the symbol “HWAIF”. To learn more about HEALWELL, please visit https://healwell.ai/.
Forward Looking Statements
Certain statements in this press release, constitute “forward-looking information” and “forward looking statements” (collectively, “forward looking statements”) within the meaning of applicable Canadian securities laws, including statements about the potential for HEALWELL and Orion Health to develop new products and services, or to enhance or combine existing ones, and the anticipated impact of such products and services; and the anticipated timing, focus and implementation of Healwell’s strategic expansion into the U.S. Market; and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-looking statements are often, but not always, identified by words or phrases such as “mission”, “opportunity”, “introducing”, “is engaging”, “continue to”, “improve” or variations of such words and phrases or statements that certain future conditions, actions, events or results “will”, “may”, “could”, “would”, “should”, “might” or “can” be taken, occur or be achieved, or the negative of any of these terms . Forward-looking statements are necessarily based upon management’s perceptions of historical trends, current conditions and expected future developments, as well as a number of specific factors and assumptions that, while considered reasonable by HEALWELL as of the date of such statements, are outside of HEALWELL’s control and are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in the forward-looking statements ultimately being entirely or partially incorrect or untrue. Forward looking statements contained in this press release are based on various assumptions, including, but not limited to, the following: HEALWELL’s ability to integrate Orion Health personnel, products, services, customers and relationships; HEALWELL’s and Orion Health’s ability to maintain and leverage their relationships with their commercial partners; the continued adoption of the software, tools and solutions created by HEALWELL and its subsidiaries; that HEALWELL will be successful in identifying, executing and integrating new acquisitions, investments and/or partnerships, the stability of general economic and market conditions; sufficiency of working capital and access to financing; HEALWELL’s ability to comply with applicable laws and regulations; HEALWELL’s continued compliance with third party intellectual property rights; the effects of competition in the industry; the requirement for increasingly innovative product solutions and service offerings; technologies working as intended or at all; trends in customer growth and the adoption of new technologies in the industry; and that the risk factors noted below, collectively, do not have a material impact on HEALWELL’s business, operations, revenues and/or results. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved.
Known and unknown risk factors, many of which are beyond the control of HEALWELL, could cause the actual results of HEALWELL to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. Such risk factors include but are not limited to those factors which are discussed under the section entitled “Risk Factors” in HEALWELL’s most recent annual information form dated March 31, 2025, which is available under HEALWELL’s SEDAR+ profile at www.sedarplus.ca. The risk factors are not intended to represent a complete list of the factors that could affect HEALWELL and the reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. HEALWELL disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. All of the forward-looking statements contained in this press release are qualified by these cautionary statements.
For more information:
Pardeep S. Sangha
Investor Relations, HEALWELL AI Inc.
Phone: 604-572-6392
ir@healwell.ai