Healthcare technology company Healwell AI has concluded the purchase of a majority stake in Canada-based healthcare artificial intelligence (AI) and data science company Pentavere Research Group.

Healwell AI acquired the majority interest in a combined primary and secondary transaction.

The financial terms of the transaction were undisclosed.

Pentavere has now appointed three director nominees from Healwell to its board.

The three nominees are Healwell CEO Dr Alexander Dobranowski, HEALWELL corporate development SVP Blake Corbet and Healwell board director Erik Danudjaja.

Healwell, which focuses on AI and data science for preventative care, said that the Pentavere deal adds new pharmaceutical and life sciences customers, new high-margin technology, access to hospitals in Canada and the US, and an AI engineering team.

Healwell CEO Dr Alexander Dobranowski said: “This marks our first acquisition in the healthcare technology space, signifying a pivotal moment in Healwell's history.

“The addition of Pentavere’s data abstraction and structuring capabilities, combined with its access to hospitals and expertise in hospital-based medical specialities, will significantly broaden Healwell’s therapeutic and disease indication spectrum. Being one of the leading technology assets in healthcare AI in Canada, Pentavere is a perfect example of our commitment to revolutionising the industry through establishing and consolidating leading healthcare technologies.”

Furthermore, Pentavere’s Darwen AI technology is expected to complement Healwell’s AI technologies.

The Darwen AI engine is designed to identify patients, who are eligible for approved medications or interventions and help drive therapy growth and penetration.

Pentavere co-founder and CEO Aaron Leibtag said: “Partnering with Healwell will not only enhance the impact of our solutions but also enable us to take a major leap forward in introducing our ground-breaking platform to larger healthcare networks and additional jurisdictions.”