HEALWELL Provides Corporate Update on Accelerating Commercialization and Expansion of Pharmaceutical Partnerships by Leveraging Its Best-in-Class Patient Identification Capabilities

• HEALWELL's AI and data science subsidiaries have executed 5 new Master Services Agreements ("MSA") with new pharmaceutical partners in Q3-2024; bringing the total number of MSAs with life sciences partners to 27, which includes 6 of the top 10 pharmaceutical companies in the world. HEALWELL's AI and data science subsidiaries generated patient identification revenue from 23 of these pharmaceutical partners in Q3-2024.
• HEALWELL subsidiary, Khure Health, has executed an MSA for patient identification purposes with a major multi-national medical device conglomerate highlighting an expansion into a broader life sciences customer base.
• In addition, HEALWELL's Pentavere subsidiary has executed a commercial agreement with a major U.S. health system, utilizing Pentavere's DARWEN™ AI platform to identify patients with valvular heart disease.

Toronto, Ontario--(Newsfile Corp. - November 5, 2024) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL" or the "Company"), a healthcare technology company focused on AI and data science for preventative care, is pleased to provide a corporate update highlighting the recent success of its AI and data science business unit in accelerating the commercialization of its solutions and expanding new relationships with life sciences and pharmaceutical partners. HEALWELL's AI and data science subsidiaries executed 5 Master Service Agreements ("MSA") with new pharmaceutical partners in Q3-2024, bringing the business' cumulative total to 27 signed MSAs with life science partners, which include 6 of the top 10 pharmaceutical companies in the world, compared to 12 cumulative signed MSA at the beginning of the year. HEALWELL also generated revenue from 23 pharmaceutical or life sciences customers in Q3-2024, compared to 8 pharmaceutical or life sciences customers that generated patient identification revenue in Q4-2023, demonstrating successful progress in the commercialization of its AI solutions in the healthcare and life science sectors since the beginning of this year.

YTD Comparison of Signed MSAs and Revenue-Generating Pharma or Life Science Partners

Dr. Alexander Dobranowski, CEO of HEALWELL, commented, "I am thrilled to share the exciting progress our AI and data science subsidiaries, Khure and Pentavere, have made in advancing the commercialization of their AI-driven patient identification solutions and services. Since the close of last calendar year, our AI powered lines of business have achieved remarkable growth, more than doubling the number of signed MSAs with life science partners and nearly tripling those that are actively generating revenue. This impressive progress, achieved in a relatively short timeframe, underscores our commitment to driving value for our life science partners. Additionally, we are seeing meaningful expansion within these partnerships, as Pentavere is advancing towards recurring subscription-based revenue models with its pharma clients, and Khure has begun executing agreements with the medical device community, highlighting our growing reach across the life sciences landscape."

HEALWELL subsidiaries, Khure Health Inc. ("Khure") and Pentavere Research Group Inc. ("Pentavere"), continue to make significant advancements in their businesses marked by key achievements in the quarter. Khure has expanded its reach within the life sciences sector by signing an MSA with a major global medical device conglomerate for patient identification purposes, where the therapeutic being administered after identification would be a medical device, underscoring the potential for commercialization amongst a broadened life science customer base.

Pentavere, has achieved substantial progress in generating pharma-oriented subscription revenue, a significant achievement as one of the few AI and data science companies in the industry to accomplish this, with six life science customers now adopting this model. Additionally, Pentavere has also entered into a strategic commercial agreement with a major U.S. health system, leveraging its DARWEN™ AI platform to identify patients with valvular heart disease, a condition affecting 2.5% of the Canadian population with 40% remaining untreated (Source: Canadian Cardiovascular Society, 2022). These accomplishments highlight HEALWELL's commitment to delivering impactful AI-driven solutions and expanding its presence in the healthcare and life sciences markets.

HEALWELL's globally validated artificial intelligence technology in combination with its Contract Research Organization (CRO) capabilities allows the Company to unlock tremendous potential end-to-end value for the life sciences sector. The Company's advanced AI and data science capabilities are expected to streamline clinical trial processes, from patient recruitment to data analysis. AI-driven tools will also help identify eligible participants, predict outcomes, and reduce trial duration by automating data collection and analysis, making the process more efficient and cost-effective. By seeking to establish a unique niche in AI-enhanced clinical trials, HEALWELL is positioning itself as a leader in the emerging space of digital healthcare solutions for research. These efforts will enhance partnerships with pharmaceutical companies and other research institutions seeking to leverage AI for trial optimizations, contributing to further financial growth and technological development.

Dr. Alexander Dobranowski
Chief Executive Officer
HEALWELL AI Inc.

About HEALWELL AI

HEALWELL is a healthcare technology company focused on AI and data science for preventative care. Its mission is to improve healthcare and save lives through early identification and detection of disease. Using its own proprietary technology, the Company 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 the Company's road map. HEALWELL is publicly traded on the Toronto Stock Exchange under the symbol "AIDX" and on the OTC Exchange under the symbol "HWAIF". To learn more about HEALWELL, please visit https://healwell.ai/.

Forward-Looking Statements

Certain statements in this press release, constitute "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-looking statements in this press release include statements with respect to, among other things, the growth and expansion of the Company's AI and Data Services business units into new revenue models and customer segments, the potential synergies between the Company's AI and clinical research capabilities and their anticipated value to the Company's customers. Forward-looking statements are often, but not always, identified by words or phrases such as "seeking", "opportunity", "potential", "growing", "expanding", "advancing", "leveraging", "improve", "expect", "future", "plan", "position", "opportunity" or variations of such words and phrases or statements that certain future conditions, actions, events or results "will", "may", "could", "would", "should", "might" or "can" be taken, occur or be achieved, or the negative of any of these terms . Forward-looking statements are necessarily based upon management's perceptions of historical trends, current conditions and expected future developments, as well as a number of specific factors and assumptions that, while considered reasonable by HEALWELL as of the date of such statements, are outside of HEALWELL's control and are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in the forward-looking statements ultimately being entirely or partially incorrect or untrue. Forward-looking statements contained in this press release are based on various assumptions, including, but not limited to, the following: HEALWELL's ability to foster and maintain its business and customer relationships; HEALWELL's ability to develop new technologies, products and services and the timelines on which they can be developed; new technologies functioning as expected; customers adopting and using new technologies, products and services as expected; the need to develop increasingly innovative technologies, products and services; competition in the industry; the stability of general economic and market conditions; HEALWELL's ability to comply with applicable laws and regulations; HEALWELL's continued compliance with third party intellectual property rights; and that the risk factors noted below, collectively, do not have a material impact on HEALWELL's business, operations, revenues and/or results. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved.

Known and unknown risk factors, many of which are beyond the control of HEALWELL, could cause the actual results of HEALWELL to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. Such risk factors include but are not limited to those factors which are discussed under the section entitled "Risk Factors" in HEALWELL's most recent annual information form dated April 1, 2024, which is available under HEALWELL's SEDAR+ profile at www.sedarplus.com. The risk factors are not intended to represent a complete list of the factors that could affect HEALWELL and the reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. HEALWELL disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. All of the forward-looking statements contained in this press release are qualified by these cautionary statements.

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