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WELL Health Provides Management Update and Makes Seed Investment in Fertility Start-up Venture

  • WELL is pleased to announce two important management updates: Atoussa Mahmoudpour has been promoted to the position of Company’s Chief Legal Officer and Ammar Shah has been promoted to the position of Vice President of Mergers and Acquisitions.
  • WELL also invested $250,000 in Twig Fertility Co (or “Twig”) a new tech-enabled fertility clinic which will be opening in mid-town Toronto later in 2021. 

Vancouver, B.C. - March 15, 2021 - WELL Health Technologies Corp. (TSX: WELL) (“WELL” or the “Company”), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, today announced two recent appointments to the Company’s leadership team.  The Company announced the promotion of Atoussa Mahmoudpour to the position of WELL’s Chief Legal Officer.  Ms. Mahmoudpour joined the Company in September 2020 as Vice President, Legal Affairs and Compliance.  Prior to joining WELL, she held senior lawyer positions at top-tier international firms, including, most recently, Eversheds Sutherland LLP from 2016 to 2020.  Ms. Mahmoudpour has over 12 years of international legal experience and has worked on multiple complex transactions, spanning Europe, North America, Asia, the Middle East and Africa.  She brings with her a breadth of experience in the areas of cross-border mergers and acquisitions, corporate and commercial, data privacy, cybersecurity, and regulatory compliance.  She has advised clients in various sectors, with particular experience in technology, media and telecommunications.  Ms. Mahmoudpour has been recognized by major peer and client-reviewed publications, including being named as a Rising Star in the Legal 500 International (2020 edition), a Next Generation Lawyers in the Legal 500 International 2019 edition) and “an expert in her field” by Chambers and Partners (2019-2021). 

WELL also announces the promotion of Ammar Shah to the position of Vice President of Mergers and Acquisitions (M&A).  Mr. Shah joined the Company in September 2020 as Director of M&A, having previously served as a Research Analyst at Eight Capital covering small cap healthcare and special situations stocks.  Mr. Shah is an experienced finance professional with nearly a decade of experience in equity research, portfolio management and capital markets.  He was an early thought leader in the digital health space in Canada and previously worked in a variety of research-based roles across investment classes and well-respected institutions across his career.  He has also worked extensively in fixed income research and trading for a leading global institutional money manager.  Mr. Shah is a graduate of The Lazaridis School of Business and Economics and is a CFA Charterholder.

Hamed Shahbazi commented, “We are very pleased to have Atoussa and Ammar as part of WELL’s senior management team.  They have already both hit the ground running and made meaningful contributions to WELL’s ability to execute against our ambitious inorganic growth initiatives.  I congratulate both of them on their respective promotions and expanded roles in the organization.” 

WELL also announced that it has made a seed investment of $250,000 into Twig Fertility Co. (or “Twig”), a start-up fertility clinic looking to create the next generation of fertility care.  Twig plans to combine medical expertise and a world class embryology laboratory to create a digitally-enhanced, human-centred approach to fertility care. This is expected to include telehealth consultations, at home medication delivery, mobile app bookings and notifications and a patient portal with real time results.  WELL is currently in discussions with Twig to implement its technology stack into Twig’s clinical operations to enhance the experience of patients seeking fertility care.

“This investment marks our initial entry into the growing market for fertility treatment services in Canada,” said Hamed Shahbazi, Chairman and CEO of WELL.  “We are looking forward to working more closely with the talented team at Twig to bring innovation and digitization to the outdated fertility treatment industry.”

Twig is led by Medical Director, Dr. Rhonda Zwingerman, a reproductive endocrinology and infertility specialist joining Twig from Mount Sinai Fertility, and Chairman Harvey Shapiro who also serves as the Chair of Dynacare.  Twig has raised over $4M to date and is expected to launch a best in-class fertility clinic in mid-town Toronto later in 2021.

WELL HEALTH TECHNOLOGIES CORP.

Per:   “Hamed Shahbazi”                      

Hamed Shahbazi

Chief Executive Officer, Chairman and Director

About WELL Health Technologies Corp.

WELL is an omni-channel digital health company whose overarching objective is to empower doctors to provide the best and most advanced care possible while leveraging the latest trends in digital health.  As such, WELL owns and operates 27 healthcare clinics, is Canada's third largest digital Electronic Medical Records (EMR) supplier serving over 2,200 medical clinics, operates a leading national telehealth service in Canada and the United States, and is a provider of digital health, billing and cybersecurity related technology solutions.  WELL is an acquisitive company that follows a disciplined and accretive capital allocation strategy.  WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL".  To access the Company’s telehealth service, visit: tiahealth.com and for corporate information, visit:  www.WELL.company.

Notice Regarding Forward Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature including the statements that: WELL intends to partner with Twig to bring digitization and innovation to the fertility treatment industry; and the proposal to implement WELL’s technology into Twig’s clinical operations.  Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.  These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “would”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “working on” or “continue”, or the negative thereof or similar variations.  There are numerous risks and uncertainties that could cause actual results and WELL’s plans and objectives to differ materially from those expressed in the forward-looking information, including: business disruption risks relating to COVID-19; regulatory risks, including those related to healthcare, and technology implementation risks, including those related to privacy and cybersecurity.  Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.  Except as required by law, the Company does not intend to update these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Pardeep S. Sangha

Vice President Corporate Strategy and Investor Relations

investor@well.company

604-572-6392