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Advanced Health Intelligence Ltd Completes Acquisition of Wellteq Digital Health Inc.

December 06, 2022

Advanced Health Intelligence Ltd (“AHI”), a corporation whose securities are listed on the Australian Securities Exchange and NASDAQ Capital Market, completed the acquisition of Wellteq Digital Health Inc. (“Wellteq”) (CSE: WTEQ) (OTCQB: WTEQF) pursuant to a court-approved plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia). Under the terms of the Arrangement, former shareholders of Wellteq received one ordinary share of AHI for every six common shares of Wellteq previously held.

AHI delivers scalable health assessment, risk stratification and digital triage to healthcare providers, insurers, employers and government agencies. Since 2014, AHI has been delivering Health-tech innovation using smartphones, starting with the world's first on-device body dimensioning capability. AHI has developed and been issued global patents in all major markets, securing and bringing forth the next frontier in digitizing healthcare with a suite of componentized solutions. Wellteq is a global digital health provider, empowering people to be healthier and happier by coaching lasting behaviour change by delivering a digital health platform to employers and insurance corporate customers, who in turn offer it to their employees and policy holders, respectively. Wellteq provides the supportive behavioural change that coaches people through lifestyle improvements and brings together a team of real people, connected by the shared purpose of coaching the world to better health

Wildeboer Dellelce LLP acted as counsel for AHI in connection with the Arrangement with a team that consisted of Sanjeev Patel, Carlye Bellavia and Katie Drury (corporate/securities/mergers and acquisition) and Katy Pitch and Marija Tasevska (tax).

Client

Advanced Health Intelligence Ltd
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