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 Well, health technologies ticker civil W-E-L-L. on the TSX recently reported it's 2023 Q1 results beating the streets consensus estimate for revenue and adjusted EBITDA. And in a report. you this week. Raymond James, and we'll say quote, we're impressed by Wells capacity to drive. powerful growth across its diverse business units in the absence of M&A. me today, you'll see your Honour Tribazi to, okay, 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. congratulations on your 17th consecutive quarter of record grab you. And you share some insights into what's driven these results historically and in the past Porter was found. Yeah, thank you. We were very excited about our Q1220. three results. And as you mentioned, we've had a long, you know, successful. stream of continued growth and record growth. also had accelerating organic growth. And I think a big part of the success of our franchise here is the incredibly sticky and predictable revenue that we have. Well over 90% of our business is either highly vio-curring as in. the, you know, highly predictable results of our two-sided network of patients. of providers or truly recurring as in schedule or subscribe. revenues. And this allows us to essentially make sure that you know we're on track it obviously you know like any other business things happen. And sometimes it's hard to meet those results, but what's really being unique about our platform is do you have exposure to all kinds of different aspects of health care? You know, we have primary care. care and specialized care on both sides of the border in the U.S. and Canada. So we have exposure to different types of care. It's a business model, we have exposure to the US payer network, which has higher per unit economics. and Canada and of course the stability and and sort of of higher fidelity kind of collections and revenue cycle process the candidate has over United States where you don't have to kind of deal with all of that payment noise. just a lot of, I'd extract built into the platform because of the diversity of different health care. businesses that we support. And Where do you see Wells future growth coming from which part of the business? excites you the most right now. Yeah, we'll look the centrifugal force of well is health care provider, and we exist to tech, enable, and amelor the business of that tech provider. And that's what we're laser focused on, and what we're seeing is providers not wanting to this is anymore. It's very simple. And so we have a digital platform and providers can either acquire what they want and be from our digital platform and implement themselves or they can decide that they don't want to run a business anymore and they don't want to configure and manage technology, which is becoming a bigger and bigger part of the world every single day. day and when we see what we've seen with that dynamic is that it's a lot of them are now just wanting to work in a place where all the technologies configured for them. It's wrapped around them and they have a competent operating partner. that is supporting the practice and take care. can care of the front office in the back office so that they can focus on providing care. This results in them seeing patients and being happier because, you know, they became doctors to see patients, not so they can manage workers and deal with HR issues and deal with lack of And all that kind of stuff. Excellent. And I know too that acquisition supply to keep roll it in well. Can you share it inside into our positions fit in? to Wells growth strategy. Sure, and look at 2020. 2020 and 2021 we did a lot of acquisitions and 2022 we took a bit of a breather and we really focused on it integration, and I think that's one of the reasons why you saw this accelerating organic growth. We really we're able to demonstrate that we could bring together or the different elements of our technology platform. We started to sell bundles. We started to really derive synergy. and activate, you know, more sales as a result of selling all their different products as services with one voice, with one vision. So we made it easier for providing to use their technology. And I think that was a big reason for our growth. now M&A as you know we're a capital allocation company we're never far from And so we did continue to have, you know, toughens here and there. And in fact, today, We announced that we've acquired the Alberta operations of MCI-1 health. another publicly traded company who is looking to raise funds to support their business. We're very pleased with this acquisition and it just demonstrates our continued discipline. plan. These are, you know, great primary care clinics in Canada. It right in the greater Calgary area and you know, just allows us to grow our footprint. in Alberta, which is an important province for us, and it's if you look at the price. If you look at what we're getting, you know, it's just a positive of our continued. discipline. And just, you know, a few days ago at our conference call I mentioned that we have you know a really strong line up of acquisitions and you know they're starting to I think come to fruition for us. I'm helping you on the road no question. you recently announced a new AI investment program last month. What's specific areas of health care technology your AI are you focusing on and what's the when it comes to AI. Yes, I look AI. as as as as I'm sure you're aware is it's become you know really an incredibly important topic taken in all aspects of life. of business and, you know, not just business socially as well. Everyone's talking about. this new breakthrough disruptive technology, the large language models, and gender to the AI. I mean, look, AI 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 the culmination of a lot of things coming together and working, but it is uncorrect, enormous. innovation and and we think that this there's a very good news story about this in healthcare, particularly where we were looking to look, we were looking to look. unlock the value of the data that we all produce every single day. as humans. And so we've established an AI investment program. because no one company can tackle all of these innovations themselves and what will done, too, is taken a very much an ecosystem approach by establishing its app stock. marketplace. And so we're very excited about not only allocating capital into promising young AI companies that are focused on digital health and so I'll health care problems, but also giving them access to, you know, safely purely to our provider network, to our, you know, to our outpatient clinic. which is the largest owned and operated network in Canada by far. So, And when these, and it's, it was remarkable. We, we announced this, program. We've had just in the in the first week to 10 days we've had over a 100 inbound prospects come in that wanted to, collaborate with us. And again, I don't think that's necessarily for the money, you know, we're saying we would invest in it. 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 our structural advantages and and the benefits that we have in the well network. Those are extremely hard to come by. And I think you'll see us, you know, help some of these companies. and these succeed and they will help us drive, you know, more innovative. that helps the provider. It's speaking of this very interesting AI. I know you're coming. just launched well AI voice. This is super interesting. Tell me what it is and the impact it could have on health care provides. Yeah thanks for asking our providers are thrilled with this. We've had a number of of our own well providers testing this technology. and it really feels like magic to them. It's essentially an ambient AIS. powered scribe. So it's a service that with the consent of the party involved listens to the conversation between a patient and provider. And then essentially condenses that into a medically relevant note for the chart files. Typically that is a lengthy process, a doctor has to transcribe notes, then review those notes and make sure that a appropriate medically oriented instruction. should notice is prepared and put into the chart. And that could take, you know, sometimes more than more time than the actual consultation. time. And so we believe that on average if it's you. regularly and consistently, this can give providers back at least a third of their day. And it's just a game changer. And it's just a game changer. And it's just a game changer. And We have now gone into general release with this product. It's widely available and Canada, it has been integrated into our EMR, which makes it even more valuable tools like this are going to start popping up, but if they are not integrated into your practice management system, then you have to kind of have data in in more than one place and move that around a little bit, which makes it a little bit more defensive. difficult, especially with HIPAA requirements and regulations. So again, I think this is the first of many types of different products and services that allow doctors to place more emphasis and focus on the patient and experience instead of having their head in a laptop and looking at you once to the wild, they'll be looking at you and speaking to their practice management system. And I think this, you know, think about it as a lot. except for for doctors, you know, this disability to speak. and have, you know, voice driven AI assistant that does things like this, I think are going to be incredibly helpful and valuable for healthcare providers. super fascinating. I mean we're just hearing you know more about AI maybe AI the first time, but here you are with the product already on the market and in the health care field. That's got to be pretty attractive to the out there right ahead of many other people, right? Thank you Richard. Thanks for that recognition that that's being our intention. We we want to demonstrate that we're all in on. ensuring that technology, the benefits providers is, is, is, is, is, accelerated and de-risk and provided, you know, and in a timely way, you know, providers need this help, we have a health care crisis in the country that is generally characterized as a lack of doctors. And so imagine if we can get our doctors to be 20 or 30% more productive. through the use of these types of tools. Well, they're going to see more pickations. And that's going to help all of us and and look if you step back well as be This model is all about having exposure to the success of doctors and doing our best to help them be more successful because we're going to revenue share relationship with most of the doctors with. And so this is good for the ecosystem. It's great for the provider and it's great for well as well. Super fascinating, Hamed Shabazi CEO, well technologies, ticker, W-E-L-L, great to catch up again. Thank you, sir. Thank you Richard appreciate how you having this