Two of the most exciting publicly traded companies in Canada focused on healthcare are expanding their partnership. And they’re aiming to change the future of clinical trials.
What’s happening:
- WELL Health Technologies (TSX: WELL) and HEALWELL AI (TSX: AIDX) have expanded their partnership to allow HEALWELL AI to be able to vertically integrate future clinical trials into WELL Health clinic locations across Canada
By the numbers:
- WELL Health currently has 180 clinical locations across Canada that HEALWELL AI will be able to use for future clinical trials
Why it maters:
- WELL Health has been a dominant force in the Canadian healthcare space, consistently rolling out new clinical locations across the country and even purchasing clinics from Shoppers Drug Mart
- WELL Health is also one of the founding shareholders of HEALWELL AI and has been a first mover in integrating artificial intelligence technology into their clinical healthcare operations
Going deeper:
- HEALWELL AI is aiming to leverage artificial intelligence technology throughout the clinical trial process, from patient recruitment to data collection and analysis
- Using artificial intelligence and machine learning technology for better understanding clinical trial data has been showing signs of promise lately, including the recent notable partnership between Firefly Neuroscience (NASDAQ: AIFF) and Bright Minds Biosciences (NASDAQ: DRUG)
The intrigue:
- HEALWELL AI previously made a strategic investment of $2M USD into Elon Musk’s artificial intelligence company xAI, in large part to unlock access to xAI’s closed Developer Program
