HEALWELL AI Inc. Completes $25.5 Million Bought Deal Offering

HEALWELL AI Inc. (TSX: AIDX) completed a private placement of subscription receipts for gross proceeds of $25,475,000. The financing was completed in connection with HEALWELL’s proposed $165 million acquisition of Auckland, New Zealand based Orion Health Holdings, a subscription license and services revenue business serving marquee public sector clients globally with data interoperability and healthcare navigation products and services.

The offering was conducted on a “bought deal” private placement basis by Eight Capital and Scotia Capital Inc., as co-lead underwriters and joint bookrunners, together with Canaccord Genuity Corp., TD Securities Inc., Beacon Securities Limited, Clarus Securities Inc., Haywood Securities Inc., Roth Canada, Inc., Raymond James Limited and Ventum Financial Corp.

HEALWELL is a healthcare artificial intelligence company focused on preventative care. HEALWELL seeks to improve healthcare and save lives through early identification and detection of disease. Using its own proprietary technology, HEALWELL is developing and commercializing advanced clinical decision support systems that can help healthcare providers detect rare and chronic diseases, improve efficiency of their practice and ultimately help improve patient health outcomes. HEALWELL is executing a strategy centered around developing and acquiring technology and clinical sciences capabilities that complement its road map.

Wildeboer Dellelce LLP acted for the underwriters with a team that consisted of Perry Dellelce, Michael Rennie, Joel Fraser, Natalie Tershakowec, Alex Karlsen, Sofia Sugumar, Jason Kim and Mayur Pujara (Corporate Finance and Securities; Technology; Healthcare).