Healthcare artificial intelligence company Healwell AI (Healwell) has announced that it has entered into an agreement to acquire 100 percent of Orion Health Holdings Limited, a New Zealand-based healthcare technology company. The transaction, valued at NZD 200 million (CAD 165 million), will significantly expand Healwell’s reach in global healthcare technology, particularly in data interoperability and healthcare navigation, according to the official release. Orion Health’s software platforms, Amadeus and Virtuoso, serve around 150 million people and over 70 global customers, including key markets in Canada, Australia, and the UK.
This acquisition will provide Healwell with a broader platform to integrate its AI-driven healthcare solutions, leveraging Orion Health’s infrastructure. Orion Health’s expertise in population health management and healthcare data aggregation will accelerate Healwell’s mission in early disease detection, the official release said.
“Orion Health brings significant large enterprise customers, recurring revenues, strong operating margins and free cash flow conversion to Healwell while providing a significant new channel for the distribution of its best-in-class AI products and services,” said Hamed Shahbazi, Chairman of Healwell.
Orion Health is a company in the development and deployment of data management platforms at scale, delivering healthcare information intelligence through its Virtuoso Digital Front Door (DFD) and Amadeus Digital Care Record (DCR) platforms. “Their (Orion Health) ability to aggregate data from multiple sources and knit it together for healthcare practitioners to have seamless data flow across multiple complex health systems benefits patients but also delivers population-scale data,” Healwell said.
Amadeus is a Digital Care Record (DCR) platform that consolidates patient data across care settings, enabling enhanced care coordination and population health management. Virtuoso is a Digital Front Door (DFD) platform that offers an integrated patient and population engagement platform, enabling end-to-end healthcare navigation and management.
Alexander Dobranowski, CEO of Healwell, commented, “Together we will deliver on our combined mission to revolutionise healthcare through AI and data-driven innovation. The integration of Amadeus and Virtuoso will position Healwell as a global leader in healthcare technology and artificial intelligence. These platforms will enable us to deliver unparalleled solutions that drive efficiency, improve patient outcomes, and empower healthcare providers worldwide.”
“This is a transformational moment in Orion Health’s history, strengthening its position as a world leader in population health management and combining it with the powerful AI capabilities of Healwell,” said Brad Porter, CEO of Orion Health. “When we link up data and insights with AI-assisted action, we will see data saving lives on a scale not seen before.”
Transaction Details
The deal will be funded with a combination of CAD 86 million in cash and CAD 57.4 million in Healwell Class A shares, alongside a CAD 50 million financing through a private placement of subscription receipts and convertible debentures. The transaction is expected to close on or before April 1st, 2025 subject to regulatory approval.
This acquisition follows Healwell’s acquisition of a majority controlling interest in Mutuo Health Solutions, a Toronto-based medical artificial intelligence company focused on developing predictive clinical AI technology. Healwell on December 3 announced acquiring a 51 percent majority controlling interest in Mutuo for USD 5.5 million in cash and shares of Healwell.
Mutuo is a medical technology company specialising in AI-powered ambient scribe solutions for clinical documentation. Its flagship product, the AutoScribe platform, transcribes clinician-patient dialogue into structured electronic medical records (EMR) data in real-time using machine learning (ML) and natural language processing (NLP).
Healwell has stated that it plans to combine AutoScribe with its proprietary AI-enabled decision support co-pilots, creating a suite of AI-powered physician co-pilots that significantly elevate physician efficiency.
Support Telecomtalk
