Toronto, Ontario--(Newsfile Corp. - February 26, 2025) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL" or the "Company"), a healthcare artificial intelligence company focused on preventative care, is pleased to announce that its subsidiary VeroSource Solutions Inc. ("VeroSource") has unveiled new Digital Twin functionality on its proprietary VS Data-as-a-Service Platform ("VS Platform"). A Digital Twin is a virtual representation of a healthcare system or facility. It is a digital copy allowing for analysis and prediction without directly manipulating the operations of the healthcare facility. With the ability to provide a comprehensive, real-time view of healthcare facility operations, the new Digital Twin technology is transforming the way facility managers and decision-makers approach the complexities of healthcare environments.
VeroSource's Digital Twin technology incorporates additional data sources-such as population demographics, disease trends, and other critical external factors to help healthcare professionals make even more precise and data-driven decisions. This holistic approach ensures that healthcare facilities are not only optimized for day-to-day operations, but also prepared to meet future demands and challenges. VeroSource's suite of solutions is designed to drive down healthcare costs and improve patient outcomes by providing health system leaders with actionable insights derived from advanced data visualization.
Dr. Alexander Dobranowski, CEO of HEALWELL, commented, "VeroSource's Digital Twin technology marks a significant milestone in the integration of advanced technology into healthcare facility operations, providing a new level of insight and control for healthcare professionals striving to deliver the highest quality of care, make data-driven decisions, reduce costs, and optimize their resources. This innovation aligns seamlessly with HEALWELL's vision of leveraging AI and technology to enhance healthcare efficiency and improve patient outcomes at scale."
To read the full press release, visit: link.
To learn more about VeroSource's Digital Twin, visit our VS Data-as-a-Service Solution page: link.
VeroSource's CIO, Gerry Fairweather, will be presenting at HL7 International's booth at HIMSS25 with Canada Health Infoway's Senior Product Manager, Allana Cameron, in Las Vegas, Nevada, on Wednesday, March 5th at 12:45PM.
The presentation, titled Expanding on IPS Use Cases: A Canadian Province's Implementation of Patient-mediated Exchange will focus on Patient Summary in Canada and share the latest patient feedback from New Brunswick's implementation of Patient Summary.
For more information, visit: link.
VeroSource's CEO, Mark McAllister sat down with Opportunities New Brunswick to discuss VeroSource's work in the digital healthcare space and its recent acquisition by HEALWELL AI.
“Our biggest client remains right here in our backyard. We plan to continue helping this province be a leader in digital health. Our friends and family use the things we’ve built and that’s incredibly rewarding. We look forward to seeing the many ways HEALWELL AI and its reach will help us grow in exciting ways.” says McAllister.
To read the full Opportunities New Brunswick article, please visit: How New Brunswick's VeroSource Became a National Leader in Digital Health.
VeroSource’s CIO, Gerry Fairweather; Senior Data Scientist, Norman Deschamps; and Data Engineer, Lucas Jensen, will be presenting at Canada Health Infoway’s Health Analytics Community session on January 23rd at 2:00PM EST.
The discussion, titled Using an HL7 Data Stream for Near Real-Time Analytics will focus on how HL7 data feeds can be used to actively monitor patient care, track key operational metrics, and make informed decisions.
Register here for free to join: link.
VeroSource's CEO, Mark McAllister, will be speaking with Lee Burry, Assistant Deputy Minister of Health, Government of New Brunswick on the main stage of Canada Health Infoway's 2024 Partnership Conference on November 18th, at 11:05 a.m. ET.
This panel will explore the critical role of public/private partnerships in advancing healthcare interoperability and finding solutions to common challenges. The discussion will emphasize the importance of these partnerships in overcoming unexpected obstacles to reach the common goal to enhance patient care and safety. The aim is to illustrate how collaborative efforts can break down silos, drive innovation, and ultimately progress interoperability.
Mark and Lee will be discussing the public/private project to include Patient Summary in the MyHealthNB digital front door, including how patient feedback is being used to ensure New Brunswickers have a voice in their healthcare experience.
The panel will also include Scott McKenna, Chief Information Officer, Nova Scotia Health Authority, and Ratcho Batchvarov, Vice-President Provider Solutions, TELUS Health, on the panel, which will be moderated by Abhinav Kalra, Executive Vice President, Canada Health Infoway.
For more information about the Canada Health Infoway Partnership Conference, visit: https://www.infoway-inforoute.ca/en/about-us/partnership-conference
VeroSource’s CEO, Mark McAllister, recently chatted with Kelly Anderson at the UNB Alumni blog about how our VS Gateway and VS MyHealth solutions are being leveraged by the Government of New Brunswick’s Department of Health through MyHealthNB.
“We were tasked with creating a connected system that would ultimately provide better healthcare and enable citizens to be in control of their health. It aligned well with our goal of empowering clinicians and patients so that patient outcomes can improve.” says Mark, remembering the excitement of being awarded the MyHealthNB project.
While Mark confirms that healthcare is a challenging field with complex problems that are not easily solved, he agrees that digital progress can empower patients and take the burden off clinicians, which can improve patient outcomes and prompt preventative care. “It feels like we’re making a difference. People here work in healthcare technology because it does make an impact. There is still a lot to do, but it feels great to be part of the improvement.”
To read the full article, visit: https://blogs.unb.ca/alumni/2024/09/how-unb-alumni-are-liberating-health-data-in-new-brunswick.php
VeroSource’s CEO, Mark McAllister, will be speaking at HL7’s WGM+ and HL7 FHIR Connectathon in Atlanta with Canada Health Infoway’s Senior Product Manager, Allana Cameron, and Sinai Health’s Postdoctoral Researcher, Paula Voorheis, in Atlanta, Georgia on Monday, September 23rd at 11:45AM.
The discussion, titled Expanding on IPS Use Cases: A Canadian Province’s Implementation of Patient-mediated Exchange will focus on the implementation of the Pan-Canadian Patient Summary in New Brunswick, and the ongoing research regarding the design, evaluation, and impact of MyHealthNB and the Patient Summary to improve patient outcomes.
For more information, visit: link.
New MyHealthNB feature allows for sharing of vital health information.
FREDERICTON (GNB) – MyHealthNB, the province’s health information app, now allows people to create a summary of their medical information and share it with health professionals who do not have access to New Brunswick’s electronic health records system.
“With MyHealthNB, we aim to empower patients, providing them more control over their own health-care information,” said Health Minister Bruce Fitch. “We are the first province in Canada to allow our residents to create their own patient summary and decide when and with whom to share it.”
It allows New Brunswickers who must seek medical care while travelling out-of-province to provide a summary of their medications, immunizations and recent laboratory and medical imaging tests, which could be shared with the health providers treating them.
The patient summary was developed in partnership with the not-for-profit Canada Health Infoway and VeroSource Solutions, based in Fredericton.
It is available to anyone using the MyHealthNB app on Apple or Android operating systems. Existing MyHealthNB users should update their mobile app to ensure access to the patient summary.
Government of New Brunswick Patient Summary Press Release
TORONTO, June 11, 2024 (GLOBE NEWSWIRE) -- HEALWELL AI Inc. (“HEALWELL” or the “Company”) (TSX: AIDX, OTCQX: HWAIF), a healthcare technology company focused on AI and data science for preventative care, is pleased to announce that it has entered into an agreement to acquire VeroSource Solutions Inc. (“VeroSource”), a multi-service technology enterprise focused mainly on providing both products and consulting services for total consideration of approximately $24.5 million (the “Transaction”), a significant portion of which is expected to be paid in HEALWELL Class A subordinate voting shares. VeroSource is a Canadian based, multi-service software and services technology company focused on providing healthcare solutions, including a “Digital Front Door” to provincial healthcare systems, including the Province of New Brunswick and several others.
VeroSource securely integrates health data from sources such as EMRs, pharmacies and hospital information systems into a single platform which is used for analysis across a variety of applications. The company has developed and validated best-in-class capabilities in data management, interoperability and rendering which are key capabilities when unlocking clinical value and addressing unmet needs for patients and providers. VeroSource harnesses AI technology via its VS Data-as-a-Service (“VS DaaS”) product, enabling powerful data visualization and unlocking value through actionable insights. The VeroSource infrastructure and suite of digital health solutions is fully compatible with HEALWELL’s AI capabilities, enabling the expansion of HEALWELL’s digital co-pilot tools into the VeroSource footprint as well as VeroSource’s data interoperability and visualization tools to be used across HEALWELL’s footprint. Combined with HEALWELL’s data structuring and abstraction technology, VeroSource provides additional expertise for HEALWELL to further accelerate its mission of early disease detection.
Dr. Alexander Dobranowski, CEO of HEALLWELL, stated, “We are excited to announce the proposed acquisition of VeroSource who has created a compelling data interoperability platform that powers large enterprises such as provincial health systems. Once integrated with our best-in-class AI-powered disease detection and patient identification capabilities, VeroSource has the potential to roll out very significant population health features that are very much at the core of value-based healthcare trends. VeroSource has demonstrated impressive historical revenue growth rates of 30% CAGR, with a strong pipeline of long-term contracts producing a mix of one-time and recurring SaaS revenue. We look forward to building on their exceptional track record by leveraging our deep connectivity to the Canadian outpatient landscape through our partnership with WELL Health and their successful public sector sales program. We are excited about the growth synergies and the potential to expand our footprint rapidly into new provinces.”
Mark McAllister, CEO of VeroSource, commented, “We are thrilled to join forces with HEALWELL. Our combined expertise will accelerate our mission of empowering people and unlocking the value of healthcare data. With HEALWELL's support, we can expand our innovative digital health solutions more rapidly and effectively across Canada. We believe that we can help accelerate HEALWELL’s mission of early disease detection and providing more comprehensive, AI-driven healthcare solutions.”
VeroSource has had well over one million users since inception, which includes both patients and providers, and is expected to generate over $8 million in revenues in 2024 with expected EBITDA1 margins over 10%. Historically, VeroSource has achieved over 80% gross margins, and consistently produced positive EBITDA1, and positive cashflows. Over 70% of its sales are high margin recurring revenue. The proposed acquisition will add significant revenue, a robust pipeline of long-term enterprise grade contracts, and an innovative digital health platform to HEALWELL. The proposed acquisition is highly accretive, cash conservative, and is expected to deliver significant value. HEALWELL is expected to benefit from VeroSource’s recurring high-margin software and services revenue, strong relationships with private and public sector stakeholders, and a talented team of healthcare technology entrepreneurs, engineers, and data scientists. On closing, this acquisition will mark a significant milestone in the ongoing effort to enhance healthcare delivery and improve patient outcomes through cutting-edge technology.
The proposed acquisition of VeroSource will result in HEALWELL acquiring a number of broad and unique capabilities for the public sector that includes digital front door and patient access solutions, International Patient Summary (IPS) solutions, FHIR interoperability and data solutions, and digital identity solutions. It also adds VeroSource’s provincial public sector customer base to HEALWELL’s existing network of pharmaceutical customers, boosting the Company’s position as a leader in the healthcare technology landscape. VeroSource’s platform exemplifies the practical use of data engineering and machine learning as it utilizes AI tools to help clients predict emergency room wait times with real-time HL7 data feeds, improve hiring processes for HR departments, and explore the use of Large Language Models for better client navigation to essential services. VeroSource’s suite of solutions is designed to drive down healthcare costs and improve patient outcomes by providing health system leaders with actionable insights derived from advanced data visualization.
To read the full press release, visit: Link.
VeroSource Solutions is proud to be working with the New Brunswick Department of Health to put more health information in the hands of citizens. Our VS Platform was leveraged to bring real-time diagnostic imaging dashboards to New Brunswickers.
From the Government of New Brunswick Press Release:
MyHealthNB has added a new tool to the health system data of its website and mobile app to provide more health information to New Brunswickers.
People can now view the estimated wait times for various non-urgent medical imaging tests. This reflects the time from when a patient is referred by a physician to when the test is completed. The dashboard will reflect the typical maximum wait times for each service, for most patients, over a 30-day time frame.
“We believe that, by giving New Brunswickers more information about the health-care system, we will help them become more engaged with their own care,” said Health Minister Bruce Fitch. “We thank Horizon for their commitment to transparency and their efforts to make this data available. We look forward to adding Vitalité’s data to the dashboard.”
The dashboard currently displays wait times for CT scans, MRIs, bone density scans, ultrasounds and mammograms at Horizon Health Network facilities. Data from Vitalité Health Network will be added as it becomes available.
The dashboard does not include wait times for medical imaging tests of an urgent nature, which are completed as rapidly as required.
“Collecting and reporting on health-care data is a priority for Horizon,” said Horizon Health Network president and CEO Margaret Melanson. “The launch of the medical imaging dashboard is an important step in improving access to, and understanding of, the health-care system in the region.”
To view GNB's press release, visit: Link
To view the Diagnostic Imaging wait time dashboard, visit: Link