CALGARY, AB, Nov. 9, 2026 /CNW/ -- Seegnal Inc. (TSXV: SEGN) (FSE: 2I1) ("Seegnal" or the "Company"), a developer of innovative healthcare technology focused on mitigating medication risks, announces that its CEO Elad Bibi-Aviv has informed the Board of Directors of his decision to step down as Chief Executive Officer, effective December 9, 2026. Seegnal also announced aggregate US$300,000 short term loans from two major shareholders to support the Company's ongoing operations. In addition, the Company's Israeli operating subsidiary, Seegnal eHealth Ltd., has signed an agreement (the "Agreement") with Hadassah Medical Organization ("Hadassah") to deploy Seegnal's clinical decision support platform across Hadassah Medical Center in Jerusalem, one of Israel's leading academic medical centers.
CEO Transition
Elad Bibi-Aviv has informed the Board of Directors of his decision to step down as Chief Executive Officer of the Company and its subsidiaries. Mr. Bibi-Aviv will continue to serve as Chief Executive Officer during a 30-day notice period, and his resignation will be effective December 9, 2026. Mr. Bibi-Aviv concluded that, over his eleven months as Chief Executive Officer, he has brought the Company to a commercial, technological and clinical stage that positions Seegnal to reach new financial milestones in 2027, and that he has accomplished the mission for which he joined the Company. Mr. Bibi-Aviv is leading a full handover during the notice period. The Board of Directors will determine the Company's leadership going forward.
"When I joined Seegnal, my mission was to take the Company to its next stage, technologically, clinically and commercially," said Elad Bibi-Aviv. "Over the past eleven months, we upgraded our platform, moved to an AI-driven, self-maintained technology, became a truly customer-first company, completed a successful pilot in U.S. senior care and signed our largest hospital agreement to date with Hadassah. I leave behind a lean, capable and self-sustaining team. I consider my mission accomplished, and I am grateful to the Board, our shareholders, our employees and our customers for their trust and partnership."
Nir Dor, Chairman of the Board of Directors, said, "On behalf of the Board, I would like to thank Elad for his leadership, dedication and important contribution to Seegnal. Under his leadership, the Company made meaningful commercial progress in Israel and advanced the development of its technology platform. To provide near-term financing, the Company's two major shareholders have extended one time short-term financing loans as described below.
Five-Year Agreement with Hadassah Medical Center
Under the Agreement, Seegnal's platform will be integrated into Hadassah's new electronic medical record and used across inpatient and ambulatory settings as part of routine, day-to-day prescribing. Deployment will take place in two phases and is expected to eventually cover approximately 1,422 inpatient beds and approximately 5,000 clinicians, making it the Company's largest hospital deployment to date.
The Agreement provides for an initial five-year term commencing November 1, 2026, with an option for Hadassah to extend for up to two additional years. It provides for recurring subscription fees payable to Seegnal over the term. Seegnal will deliver its full suite of clinical modules, including drug–drug interactions, dose checking with renal and hepatic adjustment, QT prolongation, therapeutic duplication, pediatric, geriatric, pregnancy and lactation, allergy and diagnosis-based checks, together with lab-driven adaptive logic. Payments from execution of the Agreement are due after Q1 2027.
About Hadassah Medical Organization Established in 1934 and the flagship of Hadassah, the Women's Zionist Organization of America, the Hadassah Medical Organization operates two university hospitals in Jerusalem, at Ein Kerem and on Mount Scopus. Together with the Hebrew University of Jerusalem, Hadassah runs schools of medicine, dentistry, nursing and pharmacy, and its hospitals serve as the main teaching centers for the Hebrew University–Hadassah School of Medicine, Israel's first medical school. Hadassah provides tertiary, acute, emergency and specialty care to patients from Jerusalem, across Israel and the wider region.
Strong Commercial Momentum in Israel
Beyond Hadassah, Seegnal continues to make strong commercial progress in Israel. Installation of the Company's platform at the Israeli Ministry of Health is progressing, and the Company is in advanced sales negotiations with several additional healthcare organizations in Israel.
Successful U.S. Senior Care Pilot
In the United States, Seegnal successfully completed a pilot of its medication safety platform in a senior care setting, demonstrating the platform's value for older adults with complex medication regimens. Following the pilot, the Company decided to discontinue this U.S. activity due to limited funding, and to concentrate its resources on its growing business in Israel.
AI-Driven, Self-Maintained Technology Platform
Over the past year, Seegnal has completed a significant technological and product transformation. The Company upgraded its platform to current industry standards, developed new products and is advancing toward a self-maintained, AI-driven technology that automates a substantial portion of the work previously required to maintain the platform, update its clinical content and support its integrations.
Building on these capabilities, the Company has adopted a streamlined, AI-driven operating model and has reduced its workforce by approximately 50%. This significantly lowers the Company's cost base, while preserving its core clinical, data, software, integration, commercial and customer service capabilities, and positions Seegnal to scale with a lean, efficient structure.
Short Term Loans from Major Shareholders
While Seegnal explores financing options, Seegnal has entered into a loan agreement dated effective November 11, 2026 with Mikal Ltd., a control person of the Company, and a loan agreement dated effective November 5, 2026 with Edtom Ltd., a control person of the Company (collectively, the "Loans"), for a total amount of US$300,000. Each of the Loans will bear interest at a rate of 18% per annum and is repayable within thirty (30) days from the date of the applicable Loan.
The Company intends to use the proceeds of the Loans for general working capital and corporate purposes. The Company intends to repay the Loans from future capital raises or general revenue.
The Loans are subject to the receipt of all regulatory approvals, including the approval of the Exchange.
The Loans constitute a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and TSX Venture Exchange Policy 5.9 – Protection of Minority Security Holders in Special Transactions. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, since the fair market value of the Loans does not exceed 25% of the Company's market capitalization.
About Seegnal
Seegnal Inc. (TSXV: SEGN) (FSE: 2I1) is an innovative healthcare technology company dedicated to reducing medication-related harm where care begins. The Company's SaaS-based clinical decision support platform is designed to help clinicians prescribe with greater precision by integrating patient-specific data at the point of care, including medications, laboratory results, renal function, allergies, age and other relevant risk factors. By delivering more targeted, context-aware medication insights within existing clinical workflows, Seegnal aims to reduce alert fatigue, support safer prescribing and advance a more personalized standard of patient care. Seegnal's technology is deployed across healthcare settings and is used by approximately 15,000 clinicians in daily practice. For additional Company information, please visit https://www.seegnal.com/ and follow us on LinkedIn.
Forward-Looking Statements
This press release contains "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements included herein, other than statements of historical fact, including statements included in the "About Seegnal" section of this press release, are forward-looking statements. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
More particularly, and without limitation, this press release contains forward-looking statements with respect to: the Company's AI-driven, self-maintained technology and the anticipated efficiencies and cost savings of its streamlined operating model, including the reduction of its workforce; the Company's expectation of reaching new financial milestones in 2027; the deployment of Seegnal's platform at Hadassah Medical Center, including its anticipated scope, phasing and benefits, the number of inpatient beds and clinicians covered, its integration into Hadassah's new electronic medical record, the initial five-year term of the Agreement, the potential exercise of the extension option and the fees payable under the Agreement; the completion of the Loans; receipt of all regulatory approvals, including the approval of the Exchange, in connection with the Loans; the anticipated use and sufficiency of proceeds from the Loans; the intention of the Company to repay the Loans from future capital raises or general revenue; the Board's consideration of alternatives to support the Company's ongoing operations; the Company's ability to continue supporting its customers and meeting its obligations; and the transition of the Chief Executive Officer role. Seegnal cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of Seegnal, including: expectations and assumptions concerning Seegnal and its products; the Company's AI-driven technology may not perform as anticipated or deliver the expected efficiencies; the reduced workforce may affect the Company's ability to deliver, support and grow its business; signed agreements may be delayed, modified, suspended or terminated, and agreements under negotiation may not be concluded on the anticipated terms or at all; the Company may not reach financial milestones in 2027, or at all; the Company may require additional financing or other strategic or operational alternatives, which may not be available on acceptable terms or at all; the proceeds of the Loans may not be sufficient to support the Company's operations through the end of November 2026; liquidity constraints may adversely affect the Company's ability to continue its operations, support its customers and meet its obligations; the delay or failure to receive regulatory approval, including any approvals by the Exchange, for the Loans; the Company's ability to repay the Loans from future capital raises or general revenue, or at all; the deployment at Hadassah may be delayed, modified, suspended or terminated, integration with Hadassah's new electronic medical record may take longer than anticipated, and the Agreement may not be extended beyond its initial term; and the Company's ability to effect an orderly leadership transition, as well as other risks and uncertainties, including those described in Seegnal's filings available on SEDAR+ at www.sedarplus.ca.
The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of Seegnal. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and Seegnal does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Seegnal Inc.
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