HEALWELL AI Inc., based in Toronto, has acquired a 51% controlling stake in Mutuo Health Solutions for $5.5 million in cash and shares. Mutuo specializes in AI-driven clinical documentation solutions, particularly its AutoScribe platform, which uses natural language processing and machine learning to transcribe doctor-patient conversations into structured electronic medical records in real-time.
The AutoScribe platform is designed to minimize administrative burdens for healthcare providers, allowing them to focus more on patient care. HEALWELL plans to integrate AutoScribe with its own AI assistants, creating advanced decision-support tools for healthcare professionals.
Founded in 2018, Mutuo was established by a team of AI researchers and healthcare professionals aiming to tackle documentation burnout. The partnership with HEALWELL is expected to enhance the reach of AutoScribe across Canada and beyond, improving patient care quality while reducing bureaucratic challenges for physicians.
Dr. Alexander Dobranowski, CEO of HEALWELL, expressed enthusiasm about the acquisition, stating it would provide medical professionals with cutting-edge AI tools to optimize patient care and facilitate earlier disease detection. Dr. Noah Crampton, CEO of Mutuo, highlighted the partnership's potential to expedite their business goals and improve healthcare delivery.