Avai Bio Acquires Wired-4-Health, Advancing AI Interoperability in Healthcare Data
LAS VEGAS, April 09, 2024 (GLOBE NEWSWIRE) -- Avai Bio, Inc. (OTCQB: AVAI) (“Avai Bio” or the “Company”), an artificial intelligence technology (AI) company specializing in developing innovative and advanced AI and AI infrastructure solutions, today announces the completion of its acquisition of privately-held healthcare technology and data integration services firm, Wired-4-Health.
Unified by a shared objective to propel the healthcare data interoperability landscape forward, this strategic merger leverages cutting-edge AI and amplified computational capabilities. This potent combination empowers healthcare and life sciences organizations to navigate the complexities of system interoperability with unprecedented efficiency, enhanced performance, improved data integrity, and a more cost-effective, scalable infrastructure. Customers will be able to experience these benefits across a range of critical business functions, including transaction processing, health outcomes analytics, and compliance adherence.
“Completion of this important strategic acquisition enables us to deliver best-in-class data and system interoperability services to the healthcare and life sciences sectors powered by Avai BioAI® and our high-density compute capabilities,” said Tim Lantz, Chief Executive Officer of Avai Bio. “This exciting acquisition significantly strengthens our financial profile, offers massive commercial growth opportunities in one of Avai Bio’s largest target markets, and bolsters our internal customer support and R&D capabilities.”
The healthcare sector is facing a number of escalating challenges. Providers are under pressure to improve patient outcomes while reducing costs at a time when chronic illness and clinician burnout are on the rise. Despite the transformative potential of digitalization in healthcare, a significant barrier remains. The lack of adherence to standardized data protocols makes the extensive volume of information produced by the digital revolution complex and costly to leverage. As a result, the full potential of data-driven solutions to address the industry’s most urgent challenges has yet to be realized.
“In the near term, if the healthcare industry expects to succeed in lowering costs while improving quality, the deployment of advanced AI, combined with more powerful, cost- effective compute capabilities will be critical to that success,” said Angela Harris, Avai Bio’s Chief Operating Officer. “The addition of Wired-4-Health will position Avai Bio as a key contributor in helping healthcare organizations solve complex problems at the intersection of cost, quality, compliance and technology.”
About Avai Bio, Inc.
Avai Bio, Inc. is an artificial intelligence technology company specializing in creating and developing innovative and advanced AI infrastructure solutions designed to revolutionize the landscape for AI software development companies and other companies that require immense, scalable computing power, such as scientific simulations, climate modeling, protein folding analysis, and big data processing. The Company also employs its highly sophisticated machine and deep learning AI system, Avai Bio! AI®, to support a more efficient and secure operating environment.
More information about Avai Bio can be found at https://avaibio.com.
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Forward-Looking Statements
Certain statements contained in this press release may constitute “forward-looking statements.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission, located at their website (https://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date after the date of the press release.
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