BioPharma Services has been Acquired by HEALWELL AI to Significantly Enhance Clinical Research Capabilities

Toronto, ON, June 13 – BioPharma Services is thrilled to announce that HEALWELL AI signed a share purchase agreement with Think Research on June 13, 2024, to acquire BioPharma Services. HEALWELL AI, with WELL Health Technologies Corp. (TSX: WELL) as its largest shareholder, is a leader renowned for its innovative applications of AI in healthcare technology. This partnership marks a significant milestone in our pursuit to expand our capabilities and enhance our current service offerings within the healthcare industry.  

We would like to thank Think Research Inc and Fairmount Partners for their invaluable partnership and support over the years. Fairmount Partners, a leading investment bank in the pharma services industry, served as the exclusive financial advisor to Think Research.”  

Their collaboration has been instrumental in driving our growth and innovation. As we transition to becoming part of HEALWELL, we look forward to building on this strong foundation and further enhancing our capabilities and reach in conducting groundbreaking clinical research. 

Primary Benefits of the Acquisition: 

• Expanding into Patient Trials: With this acquisition, BioPharma Services is now able to expand our services to include patient trials. HEALWELL’s use of extensive patient databases and advanced algorithms will allow us to focus on patient-centric clinical research, especially in rare diseases. Entering the rare disease space allows BioPharma Services to contribute to finding cures for patients and supporting them and their families throughout their medical journey. 

• Leveraging Physician Networks and AI: Our integration with HEALWELL will allow us to conduct patient trials at HEALWELL physician sites. The use of AI-driven recommendations will help to speed up recruitment and improve patient outreach. 

By leveraging HEALWELL’s advanced technology, BioPharma Services significantly strengthens our clinical trial capabilities.  

Anna Taylor, Managing Director at BioPharma Services, stated, “This acquisition is not just a joining of forces; it’s a transformation. HEALWELL’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.” 

Dr. John Oldenhof, Executive VP Scientific Affairs at BioPharma Services, highlights the importance of conducting clinical trials for rare diseases. He has commented personally, “As a parent of a child with STXBP1, an ultra-rare genetic epilepsy condition, I am deeply committed to advancing research in this area. Conducting clinical trials for rare diseases is crucial for developing targeted treatments that can significantly improve the lives of affected individuals and their families.” 

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 headquartered in Toronto, 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.    

BioPharma Services is excited to leverage HEALWELL AI’s technological advancements to enhance our service offerings and expand our reach in the market. 

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 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. 

Fairmount Partners LP acted as exclusive financial advisor to Think Research in the Transaction. 

About BioPharma Services Inc.