Advanced Health Intelligence (ASX:AHI) reports it has completed the acquisition of Canadian health technology company wellteq Digital Health by plan of arrangement, further expanding its digital health portfolio.
This recent acquisition comes following the acquisition of South Africa-based Vertica Health, a biomathematical health risk modelling platform, in August of this year.
The 3-company combination creates the only company globally that is capable of offering biometric health screening, health risk stratification, triage into telehealth and e-health programs from the digital-health-as-a-service platform through the use of a smartphone.
With these technologies, the company will help its partners escalate customers, subscribers, or patients into right-care pathways for proactive health management.
“AHI’s strategy to acquisitively assemble this end-to-end healthcare capability for billions of smartphone users is more than a step-change, it’s a game changer for healthcare”
Speaking on the acquisition, AHI’s new Chief Executive Officer (CEO) and Managing Director, Scott Montgomery said: “AHI’s strategy to acquisitively assemble this end-to-end healthcare capability for billions of smartphone users is more than a step-change, it’s a game changer for healthcare.
Supplying some of the world’s largest companies to offer equitable access for biometric health monitoring and risk-driven triage to telehealth is a brilliant business model. I am excited to be joining Vlado in leading this group of experts on this path…[it] is an incredibly exciting opportunity that would make any healthcare executive enthusiastic.”
AHI also notes that its shareholders voted in favour of a company name change to Advanced Health Intelligence (formerly Advanced Human Imaging) at the 2022 Annual General Meeting (AGM) following the acquisition of the technological capabilities.
The name change took effect on 8 December this year, with the company commencing trading under the new name from the opening of trading on 9 December.
It is reported that the ticker on both ASX and NASDAQ will remain the same.
AHI is a global leader in contactless co-morbidity risk assessing technology by combining smartphone accessibility with computer vision, machine learning image processing and medical experts. Since 2014, the company has been delivering health-tech innovation using only a smartphone, starting with the world’s first on-device body dimensioning capability.
The company has developed and been issued global patents in all major markets for its technology, securing its IP and positioning, bringing forth the next frontier in digitising healthcare with a suite of componentised solutions.
Investment into digital health, in conjunction with the increasing adoption by some of the world’s largest companies, delivers an ‘exciting’ future for this sector and companies such as AHI leading its innovation.
As of 2pm (AWST) AHI’s share price has increased by 7.52%.