Pender Ventures Podcast – WELL Health: Building Canada’s Digital Healthcare Company

Hamed Shahbazi on founder lessons, public markets, and building WELL Health through M&A and digital transformation.

In this episode of the Pender Ventures podcast, host Maria Pacella sits down with Hamed Shahbazi, founder and CEO of WELL Health Technologies. Hamed traces his journey from building TIO Networks, a bill payment infrastructure company acquired by PayPal, to founding WELL Health with a vision to modernize and digitize Canada’s healthcare system. Along the way, he shares what he learned about M&A strategy, the value of pivoting faster, and why the Canadian public markets are a more powerful and underappreciated tool for founders than most people realize.  

Key takeaways

05:20 – Entrepreneurial roots: Lessons from childhood businesses, early jobs, and the experiences that shaped Hamed's entrepreneurial mindset and desire to build companies.
08:00 – Finding product-market fit at TIO Networks: How an internet kiosk software company evolved into a bill payment platform, solving a major pain point for cash-paying consumers and utilities.
12:00 – Building through the public markets: Why TIO started as a public company, the advantages of Canada's public venture ecosystem, and lessons on raising capital as a young founder.
14:30 – Scaling a regulated business: Navigating long sales cycles, regulatory complexity, and the operational challenges of building a payments network across the United States.
18:00 – Selling TIO to PayPal: Reflections on the acquisition, creating value for shareholders, and what Hamed learned from building and exiting his first public company.
20:00 – Lessons from a first company: Why founders need to pivot faster, rethink their relationship with failure, and use M&A as a tool to accelerate growth.
23:30 – Why healthcare?: The personal experiences that inspired WELL Health and the opportunity to modernize one of Canada's least-digitized industries.
30:00 – Building WELL through acquisition: How WELL evaluates acquisitions, balances strategic and cultural fit, and uses M&A to scale in a complex industry.
38:00 – Public versus private markets: The benefits and challenges of building in the public markets, from liquidity and access to capital to disclosure requirements and market volatility.
48:00 – Advice for founders: Why a compelling vision attracts talent and capital, the importance of adaptability, and the leadership lessons learned from building two public companies.
52:00 – The future of healthcare delivery: WELL's vision for reducing administrative burden through AI, improving physician workflows, and driving better patient outcomes.
Episode Hosts & Guests
Mentioned in This Episode

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