HEALWELL AI Inc. (TSX: AIDX, OTCQX: HWAIF), a healthcare technology company focused on AI and data science for preventative care, has acquired BioPharma Services Inc., a leading full-service Contract Research Organization specializing in early clinical trials, from Think Research Corporation. Based out of Toronto, Ontario, BioPharma has an impressive record of successfully implementing bioequivalence and early-stage clinical trials, with over 2,200 clinical trials completed with approximately 250 pharmaceutical companies since inception.
BioPharma specializes in the conduct of Phase 1/2a and Bioequivalence clinical trials for international pharmaceutical companies worldwide. With a focus on scientific integrity, operational excellence, and adaptive processes tailored to each client’s needs, BioPharma has established a reputation for delivering high-quality results in the pharmaceutical and biotech industries. With the acquisition, BioPharma will be able to expand on its existing CRO capabilities to now include patient trials, across all phases of drug development. HEALWELL’s use of extensive patient databases and advanced AI-enabled algorithms will allow BioPharma to focus on patient-centered clinical research, especially in rare diseases where the global treatment market value exceeds over $200 Billion US Dollars per year. Furthermore, integration with HEALWELL’s network will provide access to the largest outpatient clinic network in Canada powered by WELL Health Technologies Corp. (TSX: WELL) allowing BioPharma to conduct patient trials at HEALWELL physician sites where the use of AI driven recommendations will aid in accelerating recruitment and improving patient outreach.
HEALWELL’s acquisition of BioPharma will significantly expand HEALWELL’s clinical research offerings and capabilities, complementing its existing clinical research business operated through its subsidiary, Canadian Phase Onward (“CPO”), and creating synergistic opportunities to capitalize on HEALWELL’s artificial intelligence and data management capabilities. HEALWELL’s current technology and AI capabilities can unlock tremendous value and create efficiencies in clinical trials by improving trial design and architecture, accelerating trial mechanics, improving candidate eligibility screening, and, as it expands into later-phase trials, enhancing patient recruitment and screening processes. This strategic acquisition also creates opportunities for HEALWELL subsidiaries, Khure Health and Pentavere Research Group, to harness the data generated and further expand real-world evidence (RWE) clinical study work.
Dr. Alexander Dobranowski, CEO of HEALWELL, commented, “We are thrilled to announce the acquisition of BioPharma, one of the largest Canadian owned and operated CROs, a strategic move aimed to enhance HEALWELL’s own clinical research capabilities and bring new AI-driven advancement to the pharmaceutical industry. Clinical research is a critical focus for HEALWELL and is essential in advancing preventative care in Canada as well as globally. BioPharma’s multidisciplinary team of experts, state-of-the-art facilities, and commitment to innovation make it a trusted partner for pharmaceutical innovation and clinical research advancements. We look forward to welcoming the talented Toronto-based 250-person team to the HEALWELL family and together realizing the synergies between BioPharma and our current business units. We are confident that integrating our AI technology and access to WELL Health’s expansive clinical network with BioPharma’s extensive clinical trial experience will unlock new efficiencies as well as material new revenue growth opportunities.”
Anna Taylor, Managing Director at BioPharma, stated, “This acquisition is not just a joining of forces; it’s a transformation. HEALWELL AI’s various platforms will help expand our clinical trial capabilities. The acquisition allows us to leverage HEALWELL’s data science expertise to further improve our service offerings. The integration of AI in our processes such as trial design, feasibility and risk assessment, patient eligibility stratification, and results analysis will significantly enhance our capabilities. By expanding our reach to patient trials, including rare disease trials, BioPharma Services will enhance the medical journey for patients, families, and communities.”
Sachin Aggarwal, CEO of Think Research, said, “We are excited about this strategic move. The sale of BioPharma enables us to operate more adeptly and effectively, empowering us to focus on enhancing our core suite of products and innovations to better respond to our customers’ evolving needs.”
Fairmount Partners, a leading investment bank in the pharma services industry, served as the exclusive financial advisor to Think Research.
About BioPharma Services Inc.
BioPharma Services Inc. is a full-service Contract Research Organization (CRO) specializing in the conduct of Phase 1/2a and Bioequivalence clinical trials for international pharmaceutical companies worldwide. With a focus on scientific integrity, operational excellence, and adaptive processes tailored to each client’s needs, BioPharma Services has established a reputation for delivering high-quality results in the pharmaceutical and biotech industries. The company’s multidisciplinary team of experts, state-of-the-art facilities, and commitment to innovation make it a trusted partner for pharmaceutical innovation and clinical research advancements. Headquartered in Toronto, Canada, BioPharma’s comprehensive services also include Bioanalysis at its GLP Certified Laboratory, Scientific and Regulatory Affairs, Biostatistics and Safety Data Analysis (CDISC), Data Management and Medical Writing. For more information about BioPharma Services and its clinical research capabilities, visit www.biopharmaservices.com.
About Think Research Corporation
Think Research Corporation is an industry leader in delivering knowledge-based digital health software solutions. The company’s focused mission is to organize the world’s health knowledge so everyone gets the best care. Its evidence-based healthcare technology solutions support the clinical decision-making process and standardization of care to facilitate better health care outcomes. The company gathers, develops, and delivers knowledge-based solutions globally to customers, including enterprise clients, hospitals, health regions, healthcare professionals, and / or governments. The company has gathered a significant amount of data by building its repository of knowledge through its network and group of companies. Visit www.thinkresearch.com for more details.
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/.
About Fairmount Partners
Fairmount Partners is an independent merger and acquisition advisory firm focused on supporting middle-market companies complete mergers and acquisitions, raise funds for growth, acquisitions, and liquidity, and design and improve their corporate development strategies. Fairmount’s clients include successful entrepreneurs, private equity-sponsored enterprises, and global public companies. Since 2003, Fairmount has completed more than 295 transactions representing over $17 billion in aggregate value across 24 countries throughout North and South America, Europe, Asia, and Australia. For more information, please visit www.fairmountpartners.com.
