- Strategic Expansion with Proposed Acquisition of Alea Health Holdings Limited, a UAE based AI company
- Proprietary Voice Agent using Conversational AI for onboarding and triaging patients
- Extended geographic reach – entry into the Middle East Healthcare market
- Advancing Mental Health Support using Alea’s proprietary and AI powered Mental Health Platform to Augment Primary and Specialist Care
- Enhanced Bench Strength: Expertise Driving Innovation
VANCOUVER, British Columbia, Jan. 28, 2025 (GLOBE NEWSWIRE) — Treatment.com AI Inc. (CSE: TRUE, OTC: TREIF, Frankfurt: 939) (“Treatment”) is pleased to announce it has entered into a binding letter of intent dated January 28, 2025 (the “Letter of Intent”) with Alea Health Holdings Limited (“Alea Health”) for the proposed acquisition of Alea Health by Treatment (the “Proposed Transaction”). Alea Health is a UAE based technology company building innovative AI solutions for both primary and mental health care.
Strategic Platform Expansion with Alea Health
Alea Health has developed a proprietary online therapy platform that leverages AI-driven tools to address mental health challenges. Their platform incorporates conversational AI and voice technology to optimize patient intake and follow-up processes, reducing administrative burdens and enhancing patient engagement.
The acquisition of Alea Health aligns with Treatment’s mission to deliver innovative AI solutions in healthcare and expand its capabilities in the rapidly growing mental health and AI-driven healthtech sectors.
Harnessing Conversational AI for Healthcare Transformation
Treatment has consistently been advocating for the utilization of conversational AI in all aspects of healthcare delivery over the next 5-10 years. Voice AI has the opportunity to impact many aspects of our current healthcare systems including:
- AI powered and automated Multi-Lingual Patient Intake, Triage and Assessment
- Streamlining of Healthcare Professionals Administrative Tasks
- Clinical Decision Support
- Remote Patient Monitoring and Post Hospital/Clinic Discharge follow ups
- Mental Health Support and Therapy
The integration of Alea Health’s platform with Treatment’s proprietary Global Library of Medicine (GLM), a highly advanced and personalized AI healthcare engine, is aimed to enhance the company’s ability to deliver a unified and comprehensive solution tailored to meet the needs of healthcare systems worldwide.
Extended Geographic Reach – UAE
The GCC (Gulf Cooperation Council) announced at the end of 2024 (see: Revolutionizing Healthcare in the GCC: AI, Innovation & Data Impact) it expects to invest up to $135 billion to revolutionize healthcare through AI and data-driven innovation. With its presence in the UAE and an established pipeline of opportunities, Alea Health provides Treatment with a critical foothold in the region.
This proposed acquisition represents Treatment’s first major investment in the Middle East, enabling the company to develop strong local relationships and tap into a market focused on modernizing healthcare delivery.
Advancing Mental Health Support to Augment Primary Care
The acquisition of Alea Health strengthens Treatment’s focus on integrating mental health services with primary care. Treatment’s Global Library of Medicine (GLM) currently supports over 1,000 diseases and 10,000 symptoms and risk factors, with plans to expand its mental health capabilities through 2025.
Alea Health’s innovative approach combines AI and multi-modal analysis, including sentiment analysis and natural language processing of voice data, to enhance therapeutic matching and predict therapeutic alliance, a key driver of successful mental health outcomes.
With a network of over 35 internationally licensed therapists, reflecting the diverse demographic segmentation of UAE residents, Alea Health’s online therapy platform offers patients the ability to select therapists, schedule and pay for sessions, and conduct therapy online. The platform also includes a 24/7 AI-powered mental health coach, providing continuous support between therapy sessions.
Enhanced Bench Strength: Expertise Driving Innovation
The entrepreneurial team behind Alea Health brings over 30 years of combined experience across AI, machine learning, SaaS, cloud services, and data science—critical components for successful healthtech solutions.
With professional backgrounds spanning North America, Europe, and the UAE, the team has extensive expertise in mental health services, telemedicine, medical devices, hospital digital strategies, and patient intake software. This wealth of knowledge will further augment Treatment.com AI’s capabilities in delivering innovative solutions across the healthcare spectrum.
The core team at Alea Health comprises:
Richard Dallala – Chief Executive Officer (CEO)
Richard brings over a decade of experience in healthcare technology and strategic consulting. As CEO of Alea Health, he leads the development of AI-powered mental health solutions with a focus on value-based care. Previously, Richard worked as a Management Consultant at McKinsey & Company, where he supported strategic engagements in various industries including healthcare. He also contributed to mental health initiatives as a New Services Manager at Dialogue Technologies, Mirah inc. and Cleveland Clinic Advisory. Richard holds a degree in Mechanical Engineering from McGill University, and his leadership continues to drive innovation in the healthcare sector.
Saleh Paracha – Chief Technology Officer (CTO)
A visionary technology leader, Saleh oversees the innovation and execution of Alea Health’s technology strategy. Under his leadership, the company launched an online therapy platform serving over 1,000 clients in its first month, integrating AI-driven chat, scheduling, and video conferencing capabilities. Saleh’s prior experience includes roles at Phreesia, where he maintained and augmented a $100M revenue-generating payment platform, and Dreamscape Labs, where he created SaaS augmented reality solutions. A graduate of the University of Waterloo with expertise in AI, SaaS, and cloud computing, Saleh excels at building scalable, secure platforms and fostering high-performing teams.
Marco Bertetti – Chief Data Officer (CDO) & Chief Operating Officer (COO)
Marco is a seasoned data scientist and operational strategist with a track record of building impactful data products. At Alea Health, he manages both data strategy and operational growth. His prior roles include Senior Data Scientist at Delivery Hero Talabat, where he optimized user incentives through machine learning, and Principal Data Scientist at Stint, where he established company-wide experimentation frameworks. Marco has also led advanced analytics teams at Skyscanner, creating machine learning-driven solutions. With academic foundations in data science and international economics from University College London and the University of Turin, Marco’s expertise enhances Alea Health’s innovation capacity while pursuing his PhD in natural language processing.
Dr. Essam Hamza, CEO of Treatment.com AI, comments: “We are excited to welcome the Alea Health team to Treatment.com AI. They bring with them not just a unique set of skills and experience, but also an incredible proprietary platform that we have already started incorporating into the Treatment.com AI software. The ability to have a virtual GLM powered “AI Nurse” call/take calls from patients, understand different languages, take a detailed smart history and help triage patients appropriately to the proper provider is a potential game changer as a healthcare solution. We will be working on a fully integrated platform and hope to introduce the new products to the market and our customers soon”
Richard Dallala, Co-founder and CEO of Alea Health comments:”The acquisition of Alea Health by Treatment.com AI represents a pivotal advancement in our core mission to leverage the latest AI technology to significantly impact healthcare access and efficiency, including mental health. By integrating our AI capabilities with the GLM library, we can extend the reach of our technology to a wider audience, creating the foundation for a deeper impact on healthcare outcomes.”
Transaction Overview
The Letter of Intent contemplates that Treatment will acquire 100% of the issued and outstanding ordinary shares in the capital of Alea (the “Alea Shares”) by making the following payments: (i) a cash payment of USD $15,000, within seven (7) business days from the execution of the Letter of Intent, which has been paid as of the date hereof; (ii) a cash payment of USD $180,000 to the holder of a Simple Agreement for Future Equity note of Alea Health on the closing date of the Proposed Transaction (the “Closing Date”); (iii) a cash payment of USD $120,000 on the Closing Date to the Alea Shareholders, pro rata in proportion to their holdings; and (iv) the issuance of common shares in the capital of Treatment with a total deemed value of USD $100,000 (the “Consideration Shares”) on the Closing Date, with a deemed value per each consideration share to be determined, subject to the pricing requirements of the Canadian Securities Exchange (the “CSE”). The Consideration Shares shall be subject to escrow and resale restrictions to be agreed upon by Treatment and Alea Health.
The Letter of Intent sets out certain terms and conditions pursuant to which the Proposed Transaction will be completed. The Proposed Transaction remains subject to certain closing conditions including, without limitation: (a) the completion of customary due diligence; (b) the negotiation and execution of a definitive agreement; (c) the entering into of employment or consulting agreements with certain key Alea employees; and (d) the receipt of all required regulatory and third party approvals and, if applicable, the approval of the shareholders of Alea Health. There can be no guarantees that the Proposed Transaction will be completed as contemplated or at all.
In addition to contractual escrow, all securities issued pursuant to the Proposed Transaction will be issued under prospectus exemptions pursuant to National Instrument 45-106 – Prospectus Exemptions of the Canadian Securities Administrators and may be subject to an applicable statutory hold period along with any escrow restrictions imposed under applicable securities laws.
About Treatment.com AI Inc.
Treatment.com AI is a company utilizing AI (artificial intelligence) and best clinical practices to positively improve the healthcare sector and impact current inefficiencies and challenges. With the input of hundreds of healthcare professionals globally, Treatment.com AI has built a comprehensive, personalized healthcare AI engine — the Global Library of Medicine (GLM). With more than 10,000 expert medical reviews, the GLM delivers tested clinical information and support to all healthcare professionals as well as providing recommended tests (physical and lab), imaging and billing codes. The GLM helps healthcare professionals (doctors, nurses or pharmacists) reduce their administrative burden; creates more time for needed face-to-face patient appointments; and enables greater consistency in quality of patient support. Treatment.com AI’s GLM platform, through supporting healthcare professionals, allows for the inclusion of disenfranchised communities. To learn more about Treatment’s products and services: www.treatment.com or email: info@treatment.com
About Alea Health Holdings Limited
Alea Health is a United Arab Emirates-based technology startup founded in June 2024 after securing a pre-seed investment from Antler VC. Alea Health is developing multi-modal analysis (e.g., sentiment analysis and natural language processing) on voice data from patients and mental health providers to enhance matching. This approach focuses on predicting therapeutic alliance, one of the key indicators of successful therapeutic outcomes. Alea Health currently operates a network of 35+ licensed therapists and offers a proprietary online therapy platform. This platform enables patients to select their therapist, schedule and pay for sessions online, and conduct therapy sessions seamlessly. Additionally, Alea Health provides an AI-based mental health coach available 24/7 to support patients between therapy sessions. Alea Health has also been developing a fully AI-powered (Artificial Intelligence) intake process that gathers patient needs and preferences through dynamic questioning while analyzing voice data.
To learn more about Alea Health’s products and services, visit www.aleahealth.co or email info@aleahealth.co.
FOR ADDITIONAL INFORMATION, CONTACT:
Dr. Essam Hamza, CEO
For media inquiries, contact: media@treatment.com
Call: +1 (612) 788-8900 / Toll-Free USA/Canada: +1 (888) 788-8955
Cautionary Statements
This news release contains forward-looking statements that are based on Treatment.com AI’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to the implementation of its shareholder communications initiative and the timing thereof. Although Treatment.com believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements, and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and Treatment.com undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
