Healwell AI Inc. (TSX:AIDX) acquired 20% stake in Mci Polyclinic Group Inc. on June 17, 2024. Healwell AI Inc. now owns 100% of Mci Polyclinic Group Inc. including its Clinical ResearchOrganization (CRO), Canadian Phase Onward ("CPO"). Canadian Phase Onward is expected to operate under BioPharma's leadership going forward. In connection with its acquisition of the remaining 20% interest in PolyClinic, the Company transferred its 80% stake in Executive Medical Concierge Canada (2021) Ltd. ("EMC") to Health Network Efficiencies Inc., allowing the Healwell AI Inc. to focus on serving the needs of its Pharma clients for later stage clinical trials. This strategic move of acquiring 20% stake in Mci Polyclinic Group Inc. by Healwell AI Inc. eliminates a Put option liability of approximately CAD 1.3 million from the Healwell AI Inc.'s balance sheet.

Healwell AI Inc. (TSX:AIDX) completed the acquisition of 20% stake in Mci Polyclinic Group Inc. on June 17, 2024.