WELL Health Announces Strategic Alliance with McMaster University to Support Canadian Doctors and Patients
Vancouver, BC, May 1, 2020 - WELL Health Technologies Corp. (TSX: WELL) (the “Company” or “WELL”), a company focused on consolidating and modernizing clinical and digital assets within the primary healthcare sector, is pleased to announce it has entered into a Memorandum of Understanding (the “MOU”) with McMaster University’s Department of Family Medicine (“McMaster”) that authorizes WELL to use the OSCAR brand in perpetuity, including exclusive use of “OSCAR Pro”, “OSCAR Professional” and “OSCAR McMaster Professional Edition”. OSCAR, an acronym for “Open Source Clinical Application Resource”, is an open-source EMR or Electronic Medical Records system created by McMaster and the open-source community to enable better care, connect clinicians and data for continuous learning, and deliver improved outcomes for patients and the health system. By using the OSCAR brand, WELL affirms its commitment to the core brand principles of open collaboration, clinician-driven innovation and ethical data practices.
The MOU outlines a Strategic Alliance between WELL and McMaster for Technology Enabled Positive Health and Social Impact. Through this strategic alliance, WELL and McMaster will collaborate on initiatives that leverage OSCAR in ways that strengthen their shared commitment to ethical, innovative leadership in health and society. This includes:
- Working with the OSCAR community to ensure the continued growth and positive impact of OSCAR across Canada and beyond, one example of which is WELL’s agreement to assume responsibility from OSCAR EMR for stewardship of OSCAR 19 as an OntarioMD-certified EMR Offering, effective May 1, 2020;
- Offering clinically validated innovative solutions that enable better care or better information for health system decision-makers, such as the “Flu Automated Surveillance Tool” or “FAST” announced recently;
- Enhancing the experience of clinicians and patients through the provision of seamlessly integrated tools that facilitate meaningful patient engagement and self-management, improve access and co-ordination of care, and enhance options for virtual care; and
- Providing leadership to ensure equitable and timely access for physicians across Canada to new innovations that will positively influence health outcomes.
“We are very pleased to enter into this MOU with McMaster University’s Department of Family Medicine,” said Hamed Shahbazi, Chairman and CEO of WELL. “McMaster University has been at the forefront of collaborative innovation in the development and evolution of OSCAR over the past 20 years. We look forward to working more closely with McMaster on projects that yield societal benefit and improve healthcare outcomes.”
"We are delighted to partner with WELL for digital health innovation in collaboration with clinicians and patients that delivers positive health and social impact," said Dr. David Price, Professor and Chair of McMaster's Department of Family Medicine. "WELL’s commitment to quality, security, innovation and ethical stewardship of data, along with their capacity to scale new initiatives nationally, will offer great benefits to clinicians, patients and our health system for years to come. McMaster looks forward to continuing our leadership in digital health, patient-focused care and enabling system transformation in this strategic alliance."
WELL HEALTH TECHNOLOGIES CORP.
Per: “Hamed Shahbazi”
Chief Executive Officer, Chairman and Director
WELL is a unique company that operates Primary Healthcare Facilities, is the third largest Electronic Medical Records (EMR) supplier in Canada and is a provider of telehealth services. WELL owns and operates 21 medical clinics, provides digital EMR software and services to 1446 medical clinics across Canada and is a majority owner of SleepWorks Medical. WELL's overarching objective is to empower doctors to provide the best and most advanced care possible while leveraging the latest trends in digital health. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL-T". WELL was recognized as a TSX Venture 50 Company in 2018, 2019 and 2020. To access the Company’s telehealth service, visit: virtualclinics.ca and for corporate information, visit: www.WELL.company.
About McMaster University Department of Family Medicine
McMaster University is committed to creating a brighter world through its teaching, research and community engagement that enhances societal health and well-being. Through its Department of Family Medicine, in collaboration with the OSCAR community, McMaster’s leadership in OSCAR’s continuing evolution is contributing to that brighter world as it enables improved health and health system outcomes at home and around the world.
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. WELL’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such statements. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Pardeep S. Sangha
VP Corporate Strategy and Investor Relations
Executive Director, McMaster University Department of Family Medicine