Well Health (TSX: WELL) is looking to once again gain relevance among small cap investors. The firm this morning revealed it is working on incorporating the latest buzzword, artificial intelligence, into phrases associated with the company.
Well Health has indicated that its subsidiary Well Ventures, which reportedly “leverages technology to empower healthcare practitioners,” is now looking to use AI. The subsidiary has launched a new investment program, the Well AI Investment Program, in an effort to help “support healthcare providers with next generation tools.”
The program is slated to place a focus on early-stage AI projects that are geared towards improving the efficiency or accuracy of healthcare providers, or those that help deliver better patient outcomes. Outside of this, the investment fund is also said to be targeting data protection and cybersecurity applications.
Well currently intends to make at least ten investments in the AI space of $250k or more, with investees to receive a strategic alliance agreement with Well to grant it access to its health app ecosystem as well as its provider network. The program is reportedly fully funded from the treasury of Well Health.
“WELL wants to ensure that it is at the forefront of this movement, not just as a developer and user of AI, but also as a partner to other innovative companies seeking to advance the health technology industry,” commented CEO Hamed Shahbazi.
Investments are slated to begin in 2023.
Well Health last traded at $5.37 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
