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+Technologies ticker symbol w-e-l-l on
+
+the TSX recently reported its 2023 q1
+
+results beating the streets consensus
+
+estimate for revenue and adjusted ebitda
+
+and in a report issued this week Raymond
+
+James analyst said quote we're impressed
+
+by Wells capacity to drive powerful
+
+growth across its diverse business units
+
+in the absence of M A joining me today
+
+is CEO Hamed chabazi to look at what's
+
+next for well health good to see you sir
+
+how are you great to see you Richard
+
+thanks very much for having me great to
+
+have you uh congratulations on your 17th
+
+consecutive quarter of record Revenue
+
+can you share some insights into what's
+
+Driven these results historically and in
+
+the past quarter as well
+
+yeah thank you we we're very excited
+
+about our uh q1 2023 results and as you
+
+mentioned uh we've had a long you know
+
+successful uh string of of uh you know
+
+continued growth and record growth
+
+um we also had accelerating organic
+
+growth and I think um a big part of the
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+success of our franchise here is the
+
+incredibly sticky and predictable
+
+Revenue that we have you know well over
+
+90 of our business is either highly
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+reoccurring as in uh the you know highly
+
+predictable uh results of our two-sided
+
+network of patients and providers or
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+truly recurring as in scheduled or
+
+subscribed revenues and this allows us
+
+to essentially make sure that that uh
+
+you know we're on track it obviously you
+
+know like any other business things
+
+happen uh and sometimes it's hard to
+
+meet those results but what's really
+
+being unique about our platform is we do
+
+have exposure to all kinds of different
+
+aspects of healthcare you know we have
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+Prime primary care and Specialized Care
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+on both sides of the Border in the US
+
+and Canada so we have exposure to
+
+different types of business models we
+
+have exposure to the U.S payer Network
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+which has higher per unit economics than
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+Canada and of course the stability and
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+uh and and sort of higher Fidelity uh
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+kind of Collections and revenue cycle
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+process that Canada has over the United
+
+States where you don't have to kind of
+
+deal with all of that uh at that payment
+
+noise so just a lot of I think strength
+
+built into the platform because of the
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+diversity of different Healthcare
+
+businesses that we support
+
+and uh where do you see Well's future
+
+growth coming from which part of the
+
+business uh excites you the most right
+
+now yeah well look the centrifugal force
+
+of well is the healthcare provider and
+
+we exist to uh Tech enable and
+
+ameliorate the business of that of that
+
+Tech of that healthcare provider uh and
+
+and and that's what we're laser focused
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+on and and what we're seeing is
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+providers not wanting to run businesses
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+anymore it's very simple and so we have
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+a digital platform and providers can
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+either acquire what they want and need
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+from our digital platform and implement
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+it themselves
+
+or they can decide that they don't want
+
+to run a business anymore they don't
+
+want to configure and manage technology
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+which is becoming a bigger and bigger
+
+part of their world every single day and
+
+when we see what we've seen with that
+
+Dynamic is that uh is that a lot of them
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+are now just wanting to work in a place
+
+where where all the technology is
+
+configured for them it's wrapped around
+
+them and they have a competent operating
+
+partner that is supporting the organ the
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+the practice uh and and taking care of
+
+the front office in the back office so
+
+that they can focus on providing care
+
+this results in them seeing more
+
+patients uh and and being happier
+
+because you know they became doctors to
+
+see patients not so they can manage uh
+
+workers and and deal with HR issues and
+
+deal with labs and all that kind of
+
+stuff excellent and I know too that
+
+Acquisitions have played a key role in
+
+well can you share any insights into how
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+the Acquisitions fit into Wells growth
+
+strategy
+
+sure in in look in 2020 and 2021 we did
+
+a lot of Acquisitions in 2022 we took a
+
+bit of a breather and we've really
+
+focused on integration and I think
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+that's one of the reasons why you saw
+
+this accelerating organic growth we
+
+really were able to demonstrate that we
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+could bring together the different
+
+elements of our technology platform we
+
+started to sell bundles we started to
+
+really derive Synergy uh and activate uh
+
+you know more sales as a result of
+
+selling uh all the different products
+
+and services with one voice with One
+
+Vision uh so we made it easier for
+
+providers to use their technology and I
+
+think that was a big reason uh for our
+
+growth now M A as you know where Capital
+
+allocation company we're never far from
+
+it and so we did continue to have you
+
+know tuck-ins here and there and in fact
+
+today uh we announced that we've
+
+acquired uh the Alberta operations of uh
+
+MCI one Health and other publicly traded
+
+company uh who was looking to raise
+
+funds to support their business we're
+
+very pleased with with this acquisition
+
+it just demonstrates our continued
+
+discipline these are you know great
+
+primary care clinics in in Canada right
+
+in the greater Calgary area and uh uh
+
+you know just allows us to grow our
+
+footprint in Alberta which is an
+
+important Province for us and it it's
+
+it's if you look at the price if you
+
+look at what we're getting uh you know
+
+it's just demonstrative of our continued
+
+uh discipline and just you know a few
+
+days ago at our conference call I
+
+mentioned uh that we had you know a
+
+really strong lineup of Acquisitions uh
+
+and you know they're starting to uh uh I
+
+think uh come to fruition for us
+
+a company on the grown-up question I you
+
+recently announced a new AI investment
+
+program last month what specific areas
+
+of healthcare technology or AI are you
+
+focusing on and what's the strategy when
+
+it comes to AI
+
+yes uh look AI as as I'm sure you're
+
+aware is it's become you know really uh
+
+an incredibly important topic in in all
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+aspects of of business and and you know
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+not just business socially as well
+
+everyone's talking about uh this this
+
+new breakthrough disruptive technology
+
+the large language models and generative
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+AI
+
+um I mean look AI uh has been about a 80
+
+year old overnight success a lot of
+
+people have been working on this for a
+
+long time generative AI is just sort of
+
+you know the culmination of a lot of
+
+things coming together and working uh
+
+but it is uncorked enormous uh
+
+Innovation and and we think that um this
+
+there's a very good news story about
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+this in healthcare particularly where we
+
+were looking to look we were looking to
+
+unlock uh the value of of the data that
+
+that we all produce every single day
+
+um as as humans and and so we've
+
+established an AI investment program
+
+because no one company can can tackle
+
+all of these Innovations themselves and
+
+what well has done too is it's taken a
+
+very much an ecosystem approach by
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+establishing its apps.health Marketplace
+
+and so we're very excited about not only
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+uh allocating Capital into promising
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+young AI companies that are focused on
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+digital health and solving Healthcare
+
+problems but also giving them access to
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+um you know safely and securely to our
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+provider Network to our uh you know to
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+to our Outpatient Clinic Network which
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+is the largest owned and operated
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+Network in Canada by far uh so
+
+um and and when these and it's it was
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+remarkable when we announced this
+
+program we've had just in the in the
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+first uh week to 10 days we've had over
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+a hundred uh inbound prospects come in
+
+uh that that wanted to you know
+
+collaborate with us and again I don't
+
+think that's necessarily for the money
+
+you know we're saying we would invest a
+
+minimum of a quarter of a million
+
+dollars you know a lot of them will
+
+likely be higher than a quarter of a
+
+million dollars
+
+so it's not life-changing money but but
+
+our structural advantages and and and
+
+the benefits that we have in the Well
+
+Network those are extremely hard to come
+
+by uh and I think and I think uh uh
+
+you'll see us uh you know help some of
+
+these companies uh succeed and they will
+
+help us drive uh you know more
+
+Innovation to that helps the provider
+
+but speaking of this very interesting AI
+
+I know your company just launched well
+
+AI voice this is super interesting tell
+
+me what it is and the impact it could
+
+have on health care providers
+
+yeah thanks for uh asking Richard our
+
+providers uh are thrilled with this you
+
+know we've we've had a number of of of
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+our own well providers testing this
+
+technology and it it it really feels
+
+like magic to them it's essentially an
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+ambient AI powered scribe so it's a it's
+
+a service that with the consent of the
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+parties involved listens to the
+
+conversation between a patient and
+
+provider and then uh essentially
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+condenses that into a medically relevant
+
+note for the chart files uh typically
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+that is a lengthy process a doctor has
+
+to transcribe notes then review those
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+notes and make sure that uh a a a a
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+appropriate medically oriented and
+
+structured node is is is uh prepared and
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+put into the chart and that could take
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+you know sometimes more than more time
+
+than the actual consultation uh time and
+
+so we believe that on average if it's
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+used regularly and consistently this can
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+give providers back at least a third of
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+their day
+
+um and and it's it's just a game changer
+
+uh and and uh we have now gone into
+
+General release with this product it's
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+widely available in Canada uh it has
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+been integrated into our EMR which makes
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+it even more valuable tools like this
+
+are going to start popping up but if
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+they're not integrated into your
+
+practice management system then you have
+
+to kind of have data in in more than one
+
+place and and move that around a little
+
+bit which which makes it a little bit
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+more difficult especially with HIPAA
+
+requirements and and regulations so
+
+again I think this is the first of many
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+types of different products and services
+
+that allow doctors to place more
+
+emphasis and focus on the patient
+
+experience instead of having their head
+
+in a laptop and looking at you once in a
+
+while they'll be looking at you and
+
+speaking to their practice management
+
+system and I think this you know think
+
+about it as Alexa for for our doctors uh
+
+you know this this ability to speak uh
+
+and and have you know uh you know Voice
+
+driven AI assistant that does things
+
+like this I think are going to be you
+
+know incredibly helpful and valuable uh
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+for for healthcare providers
+
+super fascinating I mean we're just
+
+hearing you know more about AI maybe AI
+
+for the first time but here you are with
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+a product already on the market in the
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+in the healthcare field that's going to
+
+be pretty attractive to be out there uh
+
+right ahead of many other people right
+
+thank you Richard thanks for that
+
+recognition that's been Our intention we
+
+we want to demonstrate that we uh you
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+know that we're all in on ensuring that
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+technology that benefits providers uh is
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+is is accelerated and uh de-risked and
+
+provided uh you know um in in a timely
+
+way you know providers need this help we
+
+we have a healthcare crisis in the
+
+country that is generally characterized
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+as a as a lack of doctors and so imagine
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+if we can get our doctors to be 20 or 30
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+percent more productive through the use
+
+of these types of tools well they're
+
+going to just see more patience and and
+
+that's going to help all of us and uh
+
+and look if you step back Wells business
+
+model is all about having exposure to
+
+the success of doctors and doing our
+
+best to help them be more successful
+
+because we're in a revenue share
+
+relationship with most of the doctors
+
+that we work with and so this uh this is
+
+good for the ecosystem it's great for
+
+the provider and it's great for well as
+
+well super fascinating I'm Ed shabazzi
+
+CEO well Health Technologies ticker
+
+w-e-l-l great to catch up again thank
+
+you sir
+
+thank you Richard appreciate you having
+
+me
+
+[Music]
+
+thank you
+