WELL Health Makes Strategic Investment in Tali.ai to Develop an AI-Powered Voice Assistant for Practitioners
- WELL has entered into a strategic alliance agreement with Tali.ai which allows WELL to commercialize Tali's AI technology across WELL's EMR portfolio. Tali's technology allows doctors to have a 'conversation with their EMR' to support patients with greater efficiency and deliver improved patient outcomes.
- WELL Health announces a minority investment through its WELL Ventures subsidiary in Tali.ai, a Canadian leader in artificial intelligence (AI) voice solutions for doctors and healthcare providers
- Tali.ai is the latest application to be added to WELL's apps.health marketplace for integrated EMR apps, providing more than 15,000 doctors and other healthcare providers in over 2,800 clinics across Canada in WELL's EMR network access to the cutting-edge technology.
VANCOUVER, BC, April 13, 2022 /CNW/ - WELL Health Technologies Corp. (TSX: WELL) (the "Company" or "WELL"), a company focused on positively impacting health outcomes by leveraging technology to empower practitioners and their patients globally, announces that its wholly owned subsidiary WELL Ventures has made a significant minority investment in 11855760 Canada Inc. ("Tali.ai"), an AI-powered virtual assistant. Tali.ai enables doctors and other healthcare providers to easily retrieve essential information from their EMR software and issue voice commands using Natural Language Processing (NLP) algorithms. This means that a healthcare provider can vocally request information or action from their EMR and Tali.ai will search/present or action the request automatically.
"We are excited to closely collaborate with Tali.ai to create a transformative healthcare productivity and efficiency tool. Tali's technology allows doctors to have a voice conversation with their EMR and quickly retrieve information at the point of care," said Hamed Shahbazi, Chairman and CEO of WELL. "This investment is a continuation of WELL's efforts to support doctors and be at the frontier of innovative healthcare technology."
Tali.ai uses cutting edge NLP algorithms and AI-powered voice capabilities to allow doctors and healthcare providers to retrieve essential information, including medical and drug search, within their EMR software, navigate and initiate key EMR tasks such as prescriptions or labs, and automate the time-consuming task of clinical documentation. Tali.ai's technology is voice enabled, evidence-based, and compatible with any professional EMR that provides for programmatic integration.
"We're thrilled to join the WELL ecosystem through this investment and strategic partnership," said Mahshid Yassaei, founder and CEO of Tali.ai. "WELL's position as the Canadian leader in digital patient engagement aligns extremely well with our mission to enhance and support the day-to-day tasks of doctors and healthcare providers through technology solutions."
This partnership enhances both Tali.ai and WELL's overarching mission to positively impact patient-first health outcomes by leveraging pioneering technology to empower and support doctors and other healthcare practitioners. WELL Ventures has a mandate to invest in exceptional leaders, entrepreneurs and businesses supporting the global digital health ecosystem, with an emphasis on advancing innovative digital health initiatives in Canada. WELL Ventures has a defined focus on all aspects of the digital health ecosystem with a keen focus on practitioner enablement tools and technologies.
Amir Javidan, WELL's Chief Operating Officer commented, "Leveraging voice as a new modality for interacting with the EMR can significantly magnify the output and impact of practitioners. This is a very exciting addition to WELL's practitioner enablement platform, in supporting both our own outpatient medical clinics and for our network of EMR customers' clinics."
An investment from WELL Ventures generally includes a strategic alliance or collaboration agreement that provides portfolio companies with access to WELL's own substantial technology and healthcare assets; as such, WELL and Tali.ai have established a five-year strategic alliance with the ability to cross license, resell and commercialize Tali.ai AI's technology across WELL's EMR portfolio. Tali.ai is the latest application to join WELL's apps.health ecosystem which enables more than 15,000 healthcare providers in over 2,800 clinics across Canada in WELL's EMR portfolio to connect and access new and pioneering solutions, like Tali.ai, which integrate securely and seamlessly into a clinic's EMR software.
WELL's app marketplace, apps.health, is a part of WELL's Digital Health Apps business unit, which is focused on the development of and investment in digital health applications. Its mission to connect healthcare professionals with technology solutions in digital health, allows technology companies and third-party application developers to work with WELL to promote and accelerate digital health innovation globally.
WELL has already started beta testing early versions of the technology in WELL's own primary care clinics in British Columbia, Canada.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
WELL is a technology enabled healthcare company whose overarching objective is to positively impact health outcomes to empower and support healthcare practitioners and their patients. WELL has built an innovative practitioner enablement platform that includes comprehensive end to end practice management tools inclusive of virtual care and digital patient engagement capabilities as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services. WELL uses this platform to power healthcare practitioners both inside and outside of WELL's own omni-channel patient services offerings. As such, WELL owns and operates Canada's largest network of outpatient medical clinics serving primary and specialized healthcare services and is the provider of a leading multi-national, multi-disciplinary telehealth offering. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and is part of the TSX Composite Index. To learn more about the Company, please visit: www.well.company.'
A graduate of the Next AI program in Toronto, Tali.ai is a powerful AI-powered virtual assistant for healthcare providers and information retrieval engine. Tali.ai's technology allows for doctors to ask their questions in natural language and get their answer back from their Electronic Medical Record (EMR) software or other trusted resource. Using cutting edge Natural Language Processing (NLP) algorithms to save healthcare providers time, Tali.ai is on a mission to give time back to the Doctor and empower them to deliver better patient experiences and outcomes at the point of care. To learn more about Tali.ai, please visit www.tali.ai
This news release may contain "Forward-Looking Information" within the meaning of applicable Canadian securities laws, including, without limitation: information regarding Tali.ai's successful addition to apps.health, and Tali.ai and WELL's enhancements in positively impacting patient-first health outcomes Forward-looking Information are based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. WELL's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by inherent risks and uncertainties, including: direct and indirect material adverse effects from the COVID-19 pandemic; adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at www.sedar.com, including its most recent Annual Information Form. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
SOURCE WELL Health Technologies Corp.
Tyler Baba, Investor Relations, Manager, [email protected], 604-628-7266
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