Thank you for joining Healwell AI's 2024 Fiscal Third Quarter Financial Results Conference Call. All participants are in listen-only mode, and the call is being recorded. After the presentation, there will be an opportunity for analysts to ask questions. To join the question queue, you may press star, then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star, then zero. I would now like to turn the call over to Mr. Pav Sangha, Investor Relations at Healwell AI. Hello. Thank you, Operator. Joining me on the call today are Dr. Alexander Dobranowski, CEO of Healwell, and Anthony Lam, the company's CFO. I trust that everyone has received a copy of our financial results press release that was issued earlier today. Listeners are also encouraged to download a copy of our quarterly financial statements and management discussion and analysis once filed on SEDAR+. Please note, portion of today's call, other than historical performance, includes statements of forward-looking information within the meaning of applicable securities laws. These statements are made under the safe harbor provisions of those laws. Please refer to today's press release and to our management discussion and analysis for more details on the company's risks and forward-looking statements. We provide forward-looking statements solely for the purpose of providing information about management's current expectations and plans relating to the future. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions, assumptions, or circumstances on which any such statement is based, except if it is required by law. We use terms such as Adjusted EBITDA on this conference call, which is a non-IFRS and non-GAAP measure. For more information on how we define this term, please refer to the definitions set out in our management discussion and analysis, and with that, let me turn the call over to Dr. Alexander Dobranowski, CEO. Thank you, Pav. Good day, everyone. We truly appreciate everyone for joining us today on our Q3 2024 conference call. We just celebrated our first anniversary here at Healwell AI, and it's remarkable to reflect on how much has been achieved in such a short time. Since our launch a little over a year ago, our team's dedication and passion have propelled us forward at an extraordinary pace, making strides against our mission of early disease detection. We've completed four rounds of financing, raising almost CAD 50 million, which has strengthened our foundation and fueled our growth trajectory. Additionally, we've strategically expanded our reach through four acquisitions and multiple minority investments with strategic alliance agreements, allowing us to expand our solutions and continue to innovate in the healthcare sector. On the commercialization front, we've been focused on bringing practical, high-impact solutions to our partners and clients. We've developed and launched four AI copilots for deployment across our partner clinical networks and health systems. These copilots are designed to help healthcare providers detect hundreds of diseases, including complex, chronic, and rare conditions, improve efficiency of their practice, and ultimately, and most importantly, help to materially improve patient health outcomes. Further to this, our AI technologies have been unlocking tremendous value for the life sciences industry by accelerating their R&D efforts for therapeutic development. Our multi-tiered offering includes scientific research, patient identification and recruitment, AI-powered data analysis, real-world evidence, and clinical trials orchestration services. As per our recent press release, I'm pleased to share that since the same time last year, we have more than doubled the number of signed master service agreements with life sciences companies, underscoring the growing recognition of our value in the healthcare ecosystem. I'll expand upon this in a few moments. As a reminder, last year when Healwell debuted, our annual revenue run rate was just over CAD 7.3 million. Fueled by successful acquisitions and a strong pipeline of new business opportunities, we've grown our annualized run rate by eight times in just one year. This is just the beginning of our journey. We're still in the very top of the first inning. Every accomplishment we celebrate today serves as a stepping stone towards our long-term vision of transforming patient care through the early detection of disease. Our commitment to revolutionizing preventative health and improving patient outcomes remains unwavering, and the future holds vast potential for what we can achieve together. Thank you to our partners, investors, and most importantly, our team for making this remarkable year possible. Now, before we get into the quarterly results, I first wanted to congratulate the team at Pentavere for receiving the prestigious Prix Galien USA 2024 Award for Best Digital Health Startup for its contributions in artificial intelligence for life sciences. As per our press release this morning, the Prix Galien Award is among the global health innovation industry's most renowned honors, recognizing outstanding biomedical, medical, and technology achievements that improve the human condition. Pentavere's DARWEN AI platform was awarded for its proven contribution in artificial intelligence, making healthcare more accessible and personalized for patients. The Prix Galien Selection Committee that selected Pentavere to be the recipient of this award was comprised of current and former chief executive officers of the world's largest life sciences companies. Receiving a Prix Galien Award by a panel of the most respected global thought leaders from across the life science industry validates the enormity of Healwell AI's technology and expertise. We are really proud of what the team at Pentavere has been able to accomplish through the building of their world-class artificial intelligence technologies. During the third quarter, we delivered record revenue and gross profit, attributable to the growth in commercialization of our AI and data science solutions and our recent acquisitions of BioPharma and Verosource These acquisitions were transformational for our business and brought new key relationships with both public and private sector customers. Before I hand the call over to Anthony, our CFO, I'd like to continue today's call by providing some commentary on two key topics: one, our mergers and acquisitions activity, and two, the commercialization activities of our AI solutions and business units. I'll now expand on the first topic, our M&A activity. Healwell is executing a strategy centered around developing and acquiring technology and clinical sciences capabilities that complement our roadmap. From a corporate development perspective, Healwell is currently looking at numerous compelling acquisitions that fall into two synergistic categories. The first is healthcare AI and data science companies that expand our current capabilities and are focused on early disease detection across all clinical domains. These types of targets are now starting to demonstrate revenue traction and achieve validation that their technologies work safely and compliantly. This is a very exciting time to be targeting AI-oriented healthcare companies, as companies with these types of capabilities simply didn't even exist a few years ago. The second category of acquisition targets are mature operating companies with strong financial profiles that would be vertically integrated with our AI technologies to drive incremental revenue and cash flow. Healthcare software companies, clinical research companies, and also digital health companies are good examples. These types of companies provide us with a vector of compliant access to more patients, providers, and clinical information, but also, importantly, have a very strong profile from a financial fundamental perspective with maturing revenues, positive EBITDA, and free cash flows. On July 1, 2024, Healwell acquired two companies that fit the second category: Verosource Solutions and BioPharma Services. Verosource is a healthcare technology software company which provides us with a number of unique capabilities for the public sector, including digital front door and patient access solutions, international patient summary solutions, and FHIR interoperability. Verosource provides a platform that is an end-to-end customizable cloud-based solution that enables clinicians and decision-makers to seamlessly access and work with healthcare data. Verosource is a very important addition to the Healwell group of companies and cements our ability to provide value for an important key stakeholder, the public sector. Healwell also acquired BioPharma, a leading full-service CRO specializing in early-phase clinical trials, thereby significantly enhancing our clinical research capabilities and complementing our existing operations through our subsidiary, Canadian Phase Onward, CPO. BioPharma is dedicated to advancing medical science in order to improve the lives of patients by bringing pharmaceutical products to the market through high-quality medical research. It uses state-of-the-art facilities and scientific expertise to provide customers with clinical trial services along with a full suite of support and laboratory services. Both acquisitions are expected to be financially and strategically accretive, significantly enhancing Healwell's financial profile and core capabilities. This includes comprehensive data science offerings for large enterprise clients such as the public sector and expanded clinical research services for the pharmaceutical industry. Our acquisition pipeline remains exceptionally strong, positioning us for substantial expansion ahead. We are highly optimistic about our future trajectory, driven by a combination of organic growth and opportunistic acquisitions. We anticipate making announcements before year-end about our strategic acquisitions that will drive us to achieve a figure that is approaching a 100 million annualized revenue run rate. This also sets us up for our profitability objectives. With these additional acquisitions that get us to the 100 million revenue level, we are expecting to reach profitability on an Adjusted EBITDA basis next year. I'll now expand on the commercialization activities of our AI solutions. As we continue to expand our AI capabilities at Healwell, we are building a platform that can help screen and identify patients at risk for rare, complex, and chronic diseases. This platform will support clinical decision-making across all clinical domains, embodying our vision of advanced clinical decision support. As we acquire and build out these capabilities, it's vitally important to build trust with physicians and healthcare providers for the adoption and effective integration of AI clinical support tools in their daily practice. Physicians rely on accurate, dependable information to make life-impacting decisions, and the success of any AI system in clinical settings depends on its credibility and reliability. Healwell's two subsidiaries in AI and data science, Pentavere Research and Khure Health, are paving the way in building this crucial trust by rigorously validating their AI technology. Our AI solutions have been published in over 30 high-impact, peer-reviewed, prestigious scientific journals, including JAMA, the Journal of the American Medical Association, the Canadian Journal of Kidney Health and Disease, the American Association of Cancer Research, and the Journal of Clinical Oncology, and many more, highlighting the effectiveness and scientific rigor of our technology. Furthermore, our publications and collaborations with highly respected hospital networks and major global pharmaceutical companies underscore the real-world applicability and robustness of our solutions, positioning us as a true industry leader in healthcare innovation in artificial intelligence. This level of validation establishes Healwell AI as an industry leader in healthcare AI and is further demonstrated by our recent success in the commercialization of AI-driven patient identification solutions and services. Early last week, we announced that our AI and data science subsidiaries executed five master service agreements, or MSAs, with new pharmaceutical partners in Q3 2024, bringing the business cumulative total to 27 signed MSAs with life sciences partners, which include seven of the top 10 largest pharmaceutical companies in the world. This is in comparison to 12 cumulatively signed MSAs at the beginning of the year. I'm proud to share that Healwell also generated revenue from 23 pharmaceutical customers in Q3 2024, compared to eight pharmaceutical or life sciences customers that generated patient identification revenue in Q4 2023. Our AI-powered lines of business have achieved remarkable growth, more than doubling the number of signed MSAs with life sciences partners and nearly tripling those that are actively generating revenue since the close of last year. This impressive progress, achieved in a relatively short timeframe, underscores our commitment to driving value for our pharmaceutical and life science customers in AI. I'd like to now turn over to our CFO, Anthony, who will review the financial results for the third quarter of 2024. Thank you, Alex. Before I begin, I'd like to remind everyone on the call that all the figures that I will be discussing will be presented in Canadian dollars, and our financial statements are presented in accordance with International Financial Reporting Standards, IFRS. Please note, as we look at the third quarter here, these results are from our continuing operations. Healwell achieved quarterly revenues of CAD 13.7 million during Q3 2024. This compares to revenue of CAD 1.6 million generated in the same quarter last year. Revenue growth was primarily driven by the acquisitions made in the past year. These acquisitions include Pentavere Research Group, IntraHealth Systems Limited, BioPharma Services, Inc., and Verosource Solutions, Inc. Healwell achieved adjusted gross profit of CAD 5.9 million in Q3 2024, compared to CAD 300,000 during Q3 of 2023. The increase is mainly driven by the addition of Pentavere, IntraHealth, BioPharma, and Verosource. Healwell's gross margin percentage in Q3 2024 was 43%, compared to 20% in Q3 of 2023. During Q3 of 2024, Healwell reported an Adjusted EBITDA loss of CAD 3.4 million, compared to an Adjusted EBITDA loss of CAD 2.5 million in Q3 of 2023. Healwell reported 11.1 million in net loss as compared to a loss of 7.7 million in Q3 of 2023. I will now provide an update on our cash and debt position. We ended the quarter on September 30, 2024, with CAD 15.2 million in cash. Cash declined to CAD 15.2 million from CAD 19.8 million at the end of Q2, largely due to the acquisitions of BioPharma and Verosource. It is important to stress that a significant portion of our acquisition-related payables and contingent consideration is expected to be settled in equity, potentially reducing the cash required to settle these debts by approximately CAD 8.5 million. If all of Healwell's outstanding in-the-money warrants would be exercised, our cash balances would grow to CAD 39 million. With our robust financial position and reduced liabilities, we are confident in our ability to continue executing our strategic initiatives and delivering value to our stakeholders. I want to spend a few minutes now talking about our revenue segments. The company generates revenue in three distinct segments: one, AI and data science, two, healthcare software, and three, clinical research and patient services. The first is AI and data science, which is anchored in the integration of cutting-edge artificial intelligence technologies within the healthcare landscape to technology-enabled rare and chronic disease screening from its Khure Health and Pentavere divisions. Leveraging cutting-edge AI algorithms and advanced analytics, Healwell analyzes extensive clinical data sets to extract invaluable insights. These insights are then transformed into actionable recommendations, empowering physicians with early disease detection capabilities. This proactive approach optimizes the patient care pathway, ensuring swift and accurate diagnosis and treatment. The segment experienced an impressive 2,800% revenue growth this quarter, as compared to the same quarter of 2023. Our AI and data science division serves a clientele of life sciences, pharmaceutical, medical device, and precision medicine companies. The second revenue stream is healthcare software as a service revenue, provided by IntraHealth, an enterprise-grade EHR platform, and Verosource, an end-to-end customizable cloud-based healthcare data interoperability platform. IntraHealth's SaaS-based model has historically yielded over 80% gross margins alongside positive EBITDA and cash flows, with a significant portion of revenue deriving from high-margin recurring sources in the case of IntraHealth. Historically, VeroSource has achieved over 60% gross margins and consistently produced positive EBITDA and positive cash flows. Over 70% of its sales are high-margin recurring revenue. This segment generated CAD 5.6 million in revenue in Q3, a significant increase from zero in the same quarter last year. Our healthcare software division serves a clientele of public sector healthcare systems, healthcare providers, hospitals, and clinics. The third revenue segment is clinical research and patient services, and it consists of clinical research delivered by BioPharma Services and Canadian Phase Onward. Clinical research revenues are contract-based revenues. This segment operates on a per-visit or project basis and has a track record of positive EBITDA. It also caters to a diverse clientele, including government reimbursement, health insurance reimbursement, and life science research centers. This segment generated CAD 7.1 million in revenue in Q3, an increase of 340% as compared to CAD 1.6 million in Q3 of last year. In summary, I'm pleased to report that Healwell's outlook is bright. It's in a strong financial position and has the capital to fund future acquisitions and execute on organic growth initiatives. I will now turn the call back over to Alex. Thank you, Anthony, very much. I'd like to now provide some other key business highlights from our third quarter. On July 10, WELL Health announced Healwell AI's participation in the Health Compass II project, the largest digital initiative to date, which is supported by CAD 15.3 million in federal funding over four years. This particular collaboration underscores Healwell AI's commitment to advancing healthcare through AI and interoperability, benefiting providers and patients across Canada. On July 25th, the Department of Health in New Brunswick, in partnership with VeroSource and Canada Health Infoway, launched the first patient-mediated patient summary in North America. The secure patient summary functionalities, found in the province's health information app, MyHealthNB, enables New Brunswick residents to cross both provincial and international borders equipped with a shareable digital set of basic clinical data. This summarized version of a patient's clinical data provides health professionals with the essential information needed at point of care, such as during medical emergencies and walk-in clinic visits. On July 31, Healwell subsidiary IntraHealth announced a CAD 9 million partnership with the New Zealand Department of Corrections over a seven-year agreement to improve offender healthcare through the delivery of a new patient management system. On August 22, WELL Health Technologies subsidiary OceanMD and Healwell subsidiary IntraHealth announced a partnership to integrate OceanMD's leading e-referral system across IntraHealth's global network to enhance digital interoperability and improve patient access to care. This collaboration enables Healwell's IntraHealth to make OceanMD's e-referral system, which currently supports 120,000 e-referrals and e-consults monthly, available to a wide range of healthcare facilities, benefiting both providers and patients. In addition to our recent acquisitions, we also recently completed a strategic investment in Abstractive Health, a healthcare AI company specializing in providing physicians with an automated, accurate, and medically relevant AI assistant that delivers patient summaries using proprietary generative AI technology. Healwell invested $250,000 as part of a broader funding round and also entered into a partnership and commercialization agreement in the form of a four-year strategic alliance agreement, providing Healwell the exclusive right to distribute Abstractive Health technology in the outpatient healthcare space across Canada. I will now provide some additional detail on our strategy of being an end-to-end solution for pharma and life sciences companies. Healwell is now a comprehensive end-to-end partner for the pharmaceutical industry, a value offering that has never before been possible. With the combination of our globally validated artificial intelligence technology with our new contract research organization capabilities, we are able to unlock tremendous end-to-end value for the life sciences sector. The main role of CROs is to orchestrate clinical trials activity and help pharmaceutical companies execute on their research and development goals for new therapeutics. However, patient identification and recruitment for clinical trials has become an increasingly complex challenge in the global healthcare and life sciences sectors. Success in therapeutic development hinges not only on identifying patients, but also on effectively recruiting them and managing their participation. This is where Healwell is uniquely positioned to transform the clinical research landscape. Given Healwell's access to significant patient populations, we have a unique opportunity to leverage our AI capabilities to detect disease early and efficiently, find at-risk patients in need of access to clinical research, one of the most important aspects of the CRO business. Furthermore, BioPharma is our clinical research engine and has a strong competency and track record in conducting early-stage trials in drug development. And now, through the announced integration of BioPharma with CPO, BioPharma is expanding its capabilities and services into late-stage patient trials. This allows Healwell to participate meaningfully across all stages of clinical research, from patient detection and recruitment to early-stage trials and then late-stage trials. We believe this will bring immense value to potential at-risk patients and our life sciences partners. I would also like to highlight that through our expanded strategic alliance with WELL Health, BioPharma will be launching and managing clinical trial sites within the WELL Health clinic locations across Canada. This innovative approach transforms WELL Health clinics into hubs of clinical innovation, bringing experimental treatments directly to local communities, significantly improving accessibility for patients. When you combine our capabilities to find patients, coupled with our strategic partner, WELL Health's enormous clinical data and access to patients, we have something here that we believe could be globally unique and valuable. This is a huge opportunity. Overall, our advanced AI technology is accelerating patient discovery and recruitment, while our clinical research expertise is enabling us to conduct both early and late-stage clinical trials. Finally, our data science capabilities will automate data collection and analysis, enhancing clinical trial design and structure. This integrated approach unlocks substantial efficiencies across the multi-phase clinical trial R&D process for the life sciences sector and will allow Healwell to become a one-stop shop for pharma and new therapeutic development. I'll now provide some commentary on our outlook for the remainder of the year and into 2025. We are seeing unprecedented opportunities in healthcare data science and artificial intelligence, and our advanced AI Copilot technology is at the forefront of this evolution. Our commitment to enhancing healthcare delivery through innovative technology remains unwavering, and we are poised to capitalize on these opportunities to drive substantial value for our stakeholders. Going forward, our key areas of focus are as follows: one, execute on our M&A strategy. The company's growth and progress is underpinned by our continued focus on an accretive capital allocation program. Two, adding new commercialization agreements and partnerships with life sciences companies, health systems, and other commercial partners. This includes signing of additional master service agreements. Three, accelerating organic growth by ramping up physician adoption of the Healwell platform, including Khure Health, Pentavere, IntraHealth, and Verisource products. Four, deepening our integration and broadening our reach within the WELL Health ecosystem. Five, expand our CRO capabilities and leverage AI and clinical research to accelerate the therapeutic development process for the life sciences industry. We have signed LOIs that put us still on track to announce a target annualized revenue run rate of a figure that is approaching CAD 100 million by the end of the fiscal year. We also expect that our forecasted revenue levels put us in a strong position to be profitable on an Adjusted EBITDA basis next year, which is something we're very committed to. For our Q4 outlook, we are expecting Q4 revenue to be incrementally higher than our Q3 revenue. For BioPharma, Q4 is a seasonally stronger quarter than Q3. However, we are currently expecting lower Q4 revenues for BioPharma than previously forecasted. This is largely due to volatility in the overall pharmaceutical industry as a result of the Inflation Reduction Act, or IRA, which has introduced significant changes to drug pricing, particularly empowering Medicare to negotiate prices for certain high-cost medications. This shift has prompted large pharma companies to reassess and reprioritize their research and development portfolios, causing the cancellation or postponement of certain CRO activities. This is an overall industry problem and not specific to BioPharma. BioPharma has experienced some of its trials being pushed out to 2025, and we expect this shift of resources to flush out by next year. We're also expecting some of BioPharma's early-stage trial revenue to potentially be replaced by later-stage clinical trials in the long run. Importantly, as part of our ongoing commitments to strengthening BioPharma's core offerings and positioning the company for long-term growth, we have begun shifting BioPharma's focus to add more late-stage trials and capabilities. Historically, BioPharma was predominantly focused on early-stage clinical trials. While this area has been foundational, we recognize the need to expand our capabilities and to increase profitability by adding more late-stage clinical trials. BioPharma will be undertaking, as highlighted, the strategic initiative to launching and managing late-stage clinical trial sites within the WELL Health clinic locations across the country. Late-stage clinical trial capabilities and revenue will provide a higher gross margin profile that aligns with our vision for a more profitable and impactful business model. We anticipate the business expanding from generating revenue primarily through early-stage and bioequivalence trials to adding more late-stage patient trial capabilities across our partner network with WELL Health. We believe that these strategic changes will lead to a more robust and profitable BioPharma business over the long run. Overall, our focus is firmly on sustainable growth and delivering impactful results for our stakeholders, patients, and the broader healthcare community. We have an extremely positive outlook based on our organic growth profile and our M&A strategy. I am most excited by the immense potential for growth and innovation, particularly in the realm of AI technology. Healwell's strategic focus on inorganic growth aligns perfectly with this trend. We are highly optimistic about our future trajectory, driven by a combination of organic growth and opportunistic acquisitions. In closing, I want to reiterate that Healwell is a healthcare AI and data science company that has proven results and signed MSAs with 27 pharma and life sciences companies, including seven of the top 10 big pharma companies. The WELL Health relationship accelerates our growth with exclusive access to providers across North America. M&A will continue to play a significant role at Healwell, and we have already completed four key transactions to date. We are well-capitalized and will continue exploring opportunistic acquisitions that further the Healwell strategy. We believe that we have the necessary building blocks in place to successfully execute in healthcare AI, and the time is now to plant our flag as a leader in healthcare AI and execute against this mission. Finally, I want to thank the entire team at Healwell, whose hard work continues to elevate the company to higher levels. I'd like to thank our investment banking partners. I'd like to thank Hamed, our chairman, and the leadership team at WELL Health Technologies. Plus, I would like to thank my board of directors. Also, I'd like to thank you all for joining us on this call today. We look forward to providing an update next quarter. I'll now hand it back to the operator. Thank you. We'll now begin the analyst question and answer session. To join the question queue, you may press star then one on your telephone keypad. You'll hear a tone acknowledging your request. If you're using a speakerphone, please pick up your handset before pressing any keys. To withdraw your question, please press star then two. Our first question is from Brian Kinstlinger with Alliance Global Partners. Please go ahead. Great. Thanks so much and congrats on all the progress. You talked about building trust and reliability with your two AI technologies. How do you think about the average time in the evaluation phase? We're still in the early stages. So how do you think about the time it takes for your different customer types to start adopting the technology in a more pronounced fashion? Yeah. Thank you so much and appreciate the question. It is an important topic, right? Because healthcare, unlike other verticals, right, deals with people's lives and really important outcomes. So to really kind of build out that trust and that trust that we have highlighted, right, it can take significant time. Part of that capability of being able to produce this type of world-leading evidence that supports and validates our technology was because of the work, the years of work that Pentavere has been really toiling over the last five, six years. But when it comes to the commercial side, right, there's a couple of phases that kind of encompass demonstration of validation. First is compliance, demonstrating compliance, which is extremely important, and then demonstrating feasibility. So for the commercial side, that process can take anywhere from one month or four weeks to two months, right, to demonstrate that type of validation on the commercial side. Great. And then what are the KPIs that either BioPharma or clinics are evaluating to say, "This is reliable"? Again, back to the question of we need to move forward with more adoption. Yeah. So, Brian, I guess I'll answer first with a bit of a thematic response. So typically, in the whole research industry, right, there's a lot of room for modernization. I'll just highlight a very quick example where when contract research organizations go out to support life sciences on a particular trial endeavor, right, there's a function that's actually still done in a fairly antiquated way, and it's called manual chart review, where providers, right, health providers are actually reviewing clinical charts manually as opposed to harnessing technologies such as what Pentavere and Khure Health have demonstrated, which can automate these types of processes, saving thousands and thousands of this kind of manual effort or work. I'm mentioning that example because there's a big opportunity here to really be part of this massive modernization and transformation effort in life sciences. I know that didn't specifically answer your question, but when these types of businesses encounter this technology, there's a great deal of urgency to say, "Wait a minute, why aren't we using this tech? Let's get it embedded in our systems." And then it kicks off those steps and processes to do so. Okay. The last question I have, because I'm sure others are in the queue, is you allude in your press release to a CAD 5.5 million acquisition of a private technology company or the majority ownership of it. Can you provide any insight? I think it was a technology company. So is this access to revenues? Is this access to patient data? Anything you can share would be helpful. Yeah. Sure. And I think an important point there is this adds an element of artificial intelligence capability, which we haven't had historically as an organization. So we're really excited about what we've done here and this opportunity, and it'll add to, let's say, our tool belt of AI capabilities, strengthening our overall offering even further. Okay. Thanks so much. Thank you. The next question is from Derek Greenberg with Maxim Group. Please go ahead. Hi. Congrats on a strong quarter. My first question is just in regards to the businesses you have currently, how you view the organic growth potential from those businesses, and then maybe in terms of your current customers, how you view further penetration within the MSAs you have signed. Hi. Thanks for the question. I think it's important to look at our different businesses in the three business segments that I mentioned previously. What we will see, I mean, is maybe a varying degree of growth depending on where they are in their life cycle. So if we look at our healthcare software business, it is one of our more mature businesses, and we can expect that business to grow easily upwards of 30%-40% year- over- year. If you look at our AI and data science business, that's a business that, again, where we have actually seen some good progress, as Alex has outlined on his call. And so that one there, again, because we're still at early stages, we can see upward of 50%-60% on where the business is today. And when we look at clinical research and patient services, that area is an area where, again, we have good traction with our existing businesses. We're doing some things here to really bolster performance in the outgoing year. And I think you can expect that business from a because we are more mature in that business to see maybe something in that 20%-30% growth rate in the near term. Does that help? Yeah. That's very helpful. Yeah. Definitely. And then in terms of your stated goals of achieving just profitability in 2025, in the more near term, for the fourth quarter, do you believe that results can improve sequentially and kind of guide us along on that path, or do you see the transition more as a 2025 event? Yeah. So look, I think we've shared that we have multiple LOIs that are executed right now. We're very active from an M&A perspective, and we're anticipating to be able to announce more M&As still in quarter. The only caveat to that is, of course, timing, right? Things can shift, etc. So we remain steadfast, right, in our confidence to approach that 100 million top-line run rate and then on a full-year basis next year be positive from an Adjusted EBITDA perspective. Okay. Got it. Thank you. That's all I have. Thank you. Thanks for the questions. The next question is from Gianluca Tucci with Haywood Securities. Please go ahead. Hi. Good afternoon, guys, and congrats on all the good work. Just at a higher level, Alex, can you speak to the early AI cross-selling or upselling initiatives across the businesses? Are there any key milestones to keep an eye out for over the coming quarters? Yep. Hey, Gianluca. Thank you. Thanks for the question. So this theme from an M&A perspective, right, of one bucket targeting and acquiring AI capabilities of early disease detection, and then in the other bucket, acquiring these mature operating companies that we can vertically ameliorate or integrate, rather, and ameliorate with our AI tech is really important. So in particular, we're already seeing cross-pollination synergies between these BUs, and some of which I highlighted on that conference call. We have the capabilities of Pentavere being integrated into, for instance, IntraHealth, right? We have also work being done in collaboration with VeroSource. We also have our patient ID capabilities assisting BioPharma on their phase one trial endeavors. So there's quite a few right now of these synergistic activities. Now, to answer your question on KPIs, going forward in coming quarters, we are going to be highlighting some of these fairly pointedly and developing kind of a roadmap of these KPIs for you to be able to follow. That's great to hear, Alex. Then just secondly, as a follow-up to that and more longer-term type question, but how should we be thinking about the recurring revenue potential of Healwell longer term? Yeah. So Gianluca, that's a very important question. So in particular, I'll focus my response on our artificial intelligence capabilities under the Pentavere and Khure Health banner. We are just now, and as we've highlighted before and communicated in a press release, we're starting to see a shift from payments being made for these capabilities in a non-recurring way to now also seeing some of our life sciences partners pay in a subscription format, which is really, really exciting, and we see an outsized opportunity of being able to grow in that manner going forward, so let me now take a quick step back, so Gianluca, we're focused on early disease detection, and we have now compliance and exclusive access, right, into the WELL Health ecosystem and through other health system partners, well, imagine a situation where we're enabling clinical trials, right, in multiple clinical domains at the same time, which in that type of a format, it would really benefit from a subscription type of payment paradigm. That's excellent color. Thank you, guys. Keep up the good work. Thanks. Thank you, Gianluca. The next question is from Gabriel Leung with Beacon Securities. Please go ahead. Well, good afternoon, and thanks for taking my questions. Alex, you talked about having a couple of LOIs signed in the pipe, right? Are you able to talk about what buckets those signed LOIs fall into? And on the same note, are you able to talk about whether these are competitive bids and just overall how you're seeing M&A valuations and competition overall? Yep. So to answer your first question, Gabe, we're looking at opportunities in both buckets. We're not really leaning more on one or another. We're in a privileged position to be able to work on a number of opportunities in both. So that's your first question. And number two, I think because there's been historically, right, over the last few years, a fairly challenging kind of macro view of parts of the healthcare sector and difficulty in, for instance, early-phase technology companies raising venture capital, we're seeing a whole host of opportunities as a result of that. So I think your question was asking, are we competitive? Absolutely, right? As you've seen, right, we've demonstrated a really strong capability in capital allocation, and we are going to continue on that pace that we've been able to demonstrate historically over the last 13 months. Gotcha. Thanks for that. And then just talking about Q4 seasonality, you talked a bit about what you're seeing on the clinical side. Any commentary around how we should expect AI and data sciences and healthcare software to perform in Q4 just from a seasonality perspective? Yeah. So in terms of our AI capabilities, right, you'll see growth continue going from Q3 into Q4 with a strong finish of the year. What I mentioned was on top of some seasonality that can occur in the contract research domain, right. There's also some additional headwinds at the moment, like for instance, with regards to the Inflation Reduction Act, etc. But the industry itself is working through these types of variables. Gotcha. That's perfect. Thanks for that. Thank you, Gabriel. The next question is from Adhir Kadve with Eight Capital. Please go ahead. Hi, afternoon, guys. This is Karan Anwar. Just circling back on that CAD 100 million revenue run rate by year, and curious if you're thinking a large transaction here to end the year. Also, as you look at profitability next year, does that kind of influence the target? Are you looking at a more mature business profile for the tech you buy? Yeah. And look, thank you for the question. And I'll go back to the premise right now that, as Anthony shared, right, we have a strong balance sheet. We also have outstanding warrants, convertible debentures, etc., that when converted and exercised could bring even more cash to our balance sheet. So we're in a strong position, and we're looking at a spectrum of opportunities, right, in both those buckets as I described. We're evaluating some larger opportunities as well. But I'll just add the element that we are also prioritizing targets that do produce strong positive EBITDA and cash flow, right, because it is a very important mandate to get this company to, as I mentioned, on a full-year basis, being positive from an Adjusted EBITDA perspective in 2025. Thanks, Alex. That's helpful color. And then on Pentavere, like today, it's been getting a lot of market recognition. Has there been any recent product developments there to call out or any benefits of being under one company here that's driving this velocity? Yes. And it's wholeheartedly because Pentavere has joined the Healwell banner, which has access to the scale, right, the exclusive scale of the WELL Health footprint. So when you look at some of the important drivers of success in healthcare artificial intelligence, one is access to data, and two is access to a provider base. And we've supplied Pentavere with both. So Pentavere has now these access points, is able to further develop, refine their technology as we're seeing now being quite emphatically validated at the global level, right, by some of the most important life sciences recognition venues. Thanks, Alex. I'll pass the mic. Thank you. The next question is from Rob Goff with Ventum. Please go ahead. Thank you very much, guys. And congratulations on the MSAs. Could you perhaps give us a bit more perspective on how long it takes or what does it involve to get your MSAs signed? And is that timeline shortening as you add more and more into the roster? Yes. Hey, thank you. Thanks, Rob. Thank you for the question. This is quite an important KPI because it's typically a leading, right, KPI to then commercial success, right? We don't usually get an MFA in place without then commercial activity with a life sciences partner. To give you an example, it depends on the particular company or situation, but it'll take anywhere from eight weeks to 16 weeks to work through the process to get a master services agreement in place. But what gets interesting, though, Rob, is they aren't put in place just so we can go and do, for instance, one screening initiative, right? This is now a land-and-expand type of strategy where we demonstrate value to a life sciences partner in one specific therapeutic domain, and then we go forward, right, and activate our talent and work, right, across a multitude of different additional domains. So that kind of land-and-expand narrative. So that's the plan with our life sciences partners, and we've been able to demonstrate that with a few of them to date. Thank you. And with respect to the signed LOIs, could you give us a bit of perspective in terms of how long have you been engaged with these companies or how long have you been aware of these companies? Sure. And Rob, I think we've been very active, right, from a capital allocation perspective for a company that's been around, really, debuted 13 months ago. What I can say is, Rob, that we announced our last two acquisitions, right, July 1. So there's been a significant amount of time since those announcements and the close of those transactions. So we've had a bit of time to get a lot of productive work done, and thus why, right, we have confidence with regards to some of the commitments I've made today and previously. Okay. And is there anything that you could provide in terms of the level of RFPs outstanding or what that sales pipeline might look like? Well, Rob, I can get more specific, but as kind of an overarching point is our business units, right, IntraHealth, VeroSource, etc., are already very active, right, in the application process for these RFPs, right, some of them that exist. But because now they're part of the Healwell and greater WELL Health ecosystem, right, there's now an expanded purview of RFPs that our business units can apply for. So adding to that group of opportunity. That's very good. Thank you very much, and congrats. Thank you very much, Rob. The next question is from George Ulybyshev with Clarus Securities. Please go ahead. Good afternoon, guys, and thanks for taking our questions. My first question is in relation to BioPharma. Now that you guys have the ability to launch and manage clinical trial sites at WELL Clinic locations, can you elaborate a little bit on your plans to expand into later-stage clinical trials? And more specifically, what timelines are you guys targeting, the potential size of these trials, and the margins that you guys are expecting to generate? Sure. George, thank you for the question. Now, this is a really, really important topic, so I'd like to really, really highlight this with my answers. So when you look first at the size and clinical footprint of WELL Health, right, being one of the largest healthcare conglomerates in Canada and even North America, the opportunity here, and I can't highlight this enough, is enormous. And at Healwell, we have the capability to be able to compliantly screen and help identify patients that are at risk of certain conditions. So on top of that at Healwell, we currently have already late-phase clinical trial capabilities with our trial administration site and CRO at CPO, which is part of the Polyclinic group. That's a very productive, very high-quality CRO that does late-phase trialing today. When we acquired BioPharma, the view was we are acquiring an anchor now into clinical contract research. And BioPharma historically predominantly has worked in bioequivalence and phase one clinical trial work, so early-stage clinical trial work. Well, we already announced a few months ago that BioPharma is integrating with our other CRO, the late-phase trial CRO called CPO. So those are being integrated to now give us a full-spectrum contract research offering. Now, you couple that with the expansion of our strategic alliance agreement, and this is a very, very unique opportunity. Now, to answer your question about timing, to activate this fully into what we believe is a multi-billion-dollar opportunity is going to be a multi-year effort. And we are prepared to put in the time and put in the effort to make this strategy a reality. So we've moved in the first important building blocks here, George, and you'll see us going forward, right, move other important building blocks that really gel this all together and what we believe is an incredible opportunity. Got it. Got it. No, thanks for that, Alex. And I guess just a follow-up question for Anthony. He mentioned, I believe, 20%-30% organic growth in that division. Does that include the recently announced plans to expand into later-stage clinical trials? Absolutely. We are certainly starting to factor that into our thinking, and so it is starting to show up as part of our growth expectations. Got it. Thanks, Anthony. And just one last question for me. Can you guys give us a sense of where you are when it comes to integrating your core AI decision support tools with WELL's Circle Medical in the U.S.? Is that something that you guys are actively working on? Yes. George, in short answer, the answer is yes. We certainly are. And we announced this collaboration now a few quarters ago. All of the WELL Health assets, etc., all add particular different vectors of value with regards to integration with our technology. So we're working away at all these vectors and doing so in parallel. Great. That's it for me. Thank you, guys. Thank you, George. The next question is from Justin Keywood with Stifel. Please go ahead. Good afternoon. Thanks for taking my call. Just want to circle back to the new MSAs, five new pharma customers in the core. Are we able to quantify the potential revenue impact of those new agreements at maturity? Yes. And look, thanks very much for the question. And look, so as I mentioned, right, we're now in a position through our capabilities, right, from an AI perspective, our capabilities from a contract research perspective, and through our expanded strategic alliance agreement with Well to really do something quite special with regards to our partnership with the life sciences industry. And we've demonstrated competency to our life sciences partners, right, by being able to generate real-world evidence clinical studies, patient risk stratification and patient ID, and then, of course, right, early-phase and late-phase clinical trials. As I mentioned before, as we develop trust with our life sciences partners, as we develop the capability of being able to deliver high value on that kind of product set I described, then the plan and ambition is to expand and work more and more with these individual partners. I'm not giving you specific kind of number guidance here, but just telling you that what we've experienced so far is that we've been able to deliver and then grow the relationship with each one of these customers. And that's what we're really, really excited about. Understood. Thank you. And then maybe a question for Anthony. I'm not sure if I missed this, but the dollar value of the in-the-money warrants that could potentially be exercised and bring in additional cash if you have that metric. Thank you. If all of the warrants were - and I think based on where we're trading today, we'd be there - all of them, we would be at CAD 39 million total cash. So roughly CAD 24 million that can convert. Thank you for taking my questions. Thank you. This concludes the question and answer session. I'll turn the call back over to Alexander Dobranowski for closing remarks. Thank you. In closing, once again, I want to thank everybody for joining our call today. Thank you to the analysts for their questions. Everyone, please stay safe and healthy. We look forward to providing more updates in the future. Thank you. This brings today's conference call to a close. You may disconnect your lines. Thank you for participating and have a pleasant day.