• Experienced finance and technology executive Anthony Lam joins as the Company’s new Chief Financial Officer.
  
• Mr. Lam will replace Mr. Scott Nirenberski who has been CFO since Sept 2020.

TORONTO, June 04, 2024 (GLOBE NEWSWIRE) -- HEALWELL AI Inc. (“HEALWELL” or the “Company”) (TSX: AIDX) (OTCQX: HWAIF), an AI and data science company focused on preventative care, is pleased to announce the appointment of Anthony Lam as Chief Financial Officer (CFO), effective immediately. Reporting directly to Dr. Alexander Dobranowski, CEO of HEALWELL, Mr. Lam will have responsibility for all finance, accounting, financial reporting, audit, tax, and capital planning functions. Mr. Lam assumes the Chief Financial Officer role from Scott Nirenberski who has been the company’s CFO for the past 4 years.

Dr. Alexander Dobranowski, CEO of HEALWELL, commented, “We are both thrilled and proud to welcome Anthony to HEALWELL’s executive team. Anthony’s previous financial experience as the CFO of multiple private and publicly listed technology companies will be a valuable asset to the company as we enter HEALWELL’s next stage of growth. I also want to thank Scott Nirenberski, who served as our CFO since September 2020 and helped support the transition from the predecessor company MCI OneHealth to the launch of HEALWELL in October 2023. We are very appreciative for Scott’s years of service and support and wish him well in his future endeavors.”

Anthony Lam is an Executive Business Leader with over 20 years of international senior finance and operational leadership experience in several high growth public and private organizations spanning Cybersecurity, Digital Health, Digital Media, Loyalty, SaaS, Software, Gaming, Internet Commerce and Technology Licensing sectors. With a long-standing background in analytics, treasury and capital markets, Anthony’s list of accomplishments includes successful mergers and acquisition activity, debt and capital fundraising and public listings on the Toronto, London, and NASDAQ exchanges.

Previously, Mr. Lam worked as the CFO of multiple private and publicly listed technology companies. Most recently he was the CFO of eSentire, a cybersecurity company protecting the critical data and applications of 2000+ organizations, and the CFO of Newtopia, a publicly listed technology-enabled habit change provider focused on disease prevention and reducing the cost of care for health insurers. Previously, Mr. Lam was also the CFO of TSX and Nasdaq listed company, Points.com. Mr. Lam is a CPA and holds a Bachelor of Commerce degree from the University of Toronto.

Mr. Lam commented, “I am pleased to be joining the HEALWELL team and excited to help the company in its goal of improving healthcare through the early identification and detection of disease. I was drawn to HEALWELL because of the exceptional team and the opportunity to be a part of a rapidly growing company implementing AI into the healthcare sector. I'm focused on building resilient organizations, rooted with firm financial discipline, leveraging technology to improve efficiency and a continuous desire to inspire exceptional performance. I look forward to working with the HEALWELL team as we look to achieve new milestones in the years ahead.”

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 (the “TSX”) 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, such as the appointment and responsibilities of the new Chief Financial Officer of the Company, and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-looking statements are often, but not always, identified by words or phrases such as “effective”, “pursue”, “goal”, “build”, “leverage”, “desire”, “inspire”, “achieve”, "improve", "future", "plan", "opportunities", 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: changes in personnel and senior management, 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.

For more information:
Pardeep S. Sangha
Investor Relations, HEALWELL AI Inc.
Phone: 604-572-6392
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