11:53 AM EDT, 08/09/2024 (MT Newswires) -- MedBright AI Investments ( MBAIF ) on Friday said it appointed Christopher Heath as chief executive officer effective immediately and terminated its letter of intent with Numinus Wellness ( NUMIF ) .

Heath was previously chief executive of Convalo Health, which runs drug and alcohol inpatient and outpatient clinics. Since Convalo, he has invested in and consulted for companies in the medical and technology spaces.

"Mr. Heath's combination of experience in leading a network of mental health clinics and his involvement in the medical and technology ecosystems aligns seamlessly with MedBright's mission of investing in companies that are using AI-enabled tools to improve patient outcomes while positively impacting medical practices' bottom lines," said Jaime Gerber, Chairman of MedBright AI.

MedBright is terminating the letter of intent regarding its proposed acquisition by Numinus Wellness ( NUMIF ). No reason was offered.

Medbright was last seen up $0.005, to $0.06, on the Canadian Securities Exchange.