WELL Health Announces Strategic Investment in Circle Medical
Nov 02, 2018, 08:05 ET
- Circle Medical, a pioneer in providing a tech forward primary healthcare experience for patients and doctors, brings the doctor's office to a patient's home or work. The Silicon Valley based Y Combinator company has received investments from Tencent, Real Ventures, Ron Conway and other notable investors.
- WELL announces an investment of $200,000 USD in the equity of Circle Medical.
- WELL and Circle Medical sign non-binding LOI to investigate the opportunity to leverage Circle Medical's technology in the Canadian market.
VANCOUVER and SAN FRANCISCO, Nov. 2, 2018 /CNW/ - WELL Health Technologies Corp. (TSX.V: WELL) (the "Company or "WELL"), a company focused on consolidating and modernizing clinical and digital assets within the primary healthcare sector, is pleased to announce that it has entered into a subscription agreement with Circle Medical Inc. ("Circle Medical") to invest $200,000 USD in the Silicon Valley based digital health company's latest round of financing.
"We are pleased to become shareholders of Circle Medical a company that has been successful in developing technology applications that have contributed to a more digital and convenient patient experience," said Hamed Shahbazi, Chairman and CEO of WELL Health Technologies. "We look forward to considering various ways we can unlock value together as both companies evolve and augment capabilities."
Concurrent with the investment agreement, WELL and Circle Medical have signed a non-binding LOI to investigate opportunities to leverage Circle Medical's technology platform in the Canadian market. This collaborative agreement seeks to incorporate Circle Medical's mobile and Artificial Intelligence (AI) inspired patient and doctor facing digital suite of primary healthcare applications and technologies in conjunction with WELL's primary healthcare expertise through its network of clinics.
"We are excited to be partnering with Well Health Technologies in support of their aggressive plans to consolidate and modernize primary care practices in Canada," said George Favvas, CEO of Circle Medical, who is originally from Montreal. "We are confident that our technology platform will be a key enabler in achieving these objectives."
About WELL:
Backed by legendary investor and business magnate Sir Li Ka-shing, WELL owns and operates Primary Healthcare Facilities in Canada. WELL's overarching objective is to empower primary care doctors to provide the best and most advanced care possible leveraging the latest trends in digital health. WELL physicians serve hundreds of thousands of patient visits per year through its network of clinics. WELL is publicly traded on the TSX Venture Exchange under the symbol WELL.V. WELL Health Technologies was recognized as a TSX Venture 50 Company in 2018.
About Circle Medical:
Circle Medical is a full-stack primary care provider currently serving patients in its central hub in San Francisco and across a network of pop-up clinics at 22 employer sites in California. The practice is in network with most US-based insurance carriers.
The practice runs on top of the Circle Medical technology platform, which uses technology and artificial intelligence to scale a better patient experience, improve outcomes and maintain a lower cost than traditional primary care models.
WELL HEALTH TECHNOLOGIES CORP. |
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"Hamed Shahbazi" |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE WELL Health Technologies Corp.
For further information: WELL Media Contact: Nadia Gillies, Tel: (778) 990-9202, Email: [email protected]; WELL Health Technologies Corp.: Hamed Shahbazi, Chief Executive Officer, Chairman and Director, Tel. (604) 628-7266, [email protected], www.WELL.company