3 Canadian AI Healthcare Stocks With Market Caps Up To $345 Million

Global services activity has stayed resilient, even as manufacturing sends mixed signals. That matters for Canadian AI healthcare stocks because hospitals, clinics, and insurers are service heavy businesses that keep looking for ways to cut costs and improve care at the same time. This article looks at three stocks from our AI driven healthcare screener that could benefit if spending on smarter medical services keeps growing.

The three stocks below are just a sample from this theme. The full screen surfaced 5 more AI healthcare companies with equally compelling narratives that are not covered here.

Identify your own shortlist and analyze the potential of AI driven healthcare stocks directly in the Transformative Artificial intelligence (AI) Healthcare Stocks screener.

Profound Medical (TSX:PRN)

Overview: Profound Medical is a Canadian medical device company focused on AI-powered, MRI-guided systems like its TULSA-PRO platform, which uses imaging data, robotics and closed-loop temperature control to precisely target and ablate prostate tissue without incisions. It also sells the MRI-guided Sonalleve system for treating conditions such as uterine fibroids, painful bone metastases and certain benign tumors.

Operations: Profound Medical currently reports all revenue from its Medical Technology segment at about $19 million, with sales primarily in the U.S. at about $12 million, followed by Canada at about $6 million and a smaller contribution from Germany.

Market Cap: $345 million

Profound Medical gives you exposure to AI in the operating room, with TULSA-PRO using MRI images and real-time temperature feedback to help clinicians sculpt prostate tissue while trying to preserve continence and sexual function. Recent CAPTAIN trial data and the August rollout of its upgraded Treatment Delivery Console highlight how the company is pushing further into AI supervised treatment planning and control. This can matter for hospital workflow and patient outcomes. The flip side is that adoption depends on convincing surgeons, payers and radiology teams to change established prostate cancer pathways while competing against other AI guided therapies. For investors who can accept that execution and integration risk, the story around Profound Medical’s AI driven prostate and MR guided therapy platform is still developing.

Profound Medical’s AI supervised prostate platform is starting to look like more than a niche device story. Yet the key question is how that promise stacks up against the trade offs in front of it, which show up clearly in the analysis report for Profound Medical

Healwell AI (TSX:AIDX)

Overview: Healwell AI is a healthcare technology company that builds AI driven clinical decision support tools and an interoperable electronic health record platform to help doctors and health systems detect rare and chronic diseases, tailor treatment plans, and manage clinical data more efficiently across Canada, Australia, and New Zealand.

Operations: Healwell AI generates about $119 million from Healthcare Software and $10 million from AI and Data Sciences, with roughly $110 million of revenue in Australia and New Zealand and $18 million in Canada.

Market Cap: $244 million

Healwell AI gives you exposure to AI powered diagnostics and workflow tools that are embedded inside day to day software used by clinicians, from its DARWEN based SMART Summary and SMART Search to decision support engines for rare and chronic disease screening. The Orion and other acquisitions have built a sizable healthcare software base that can distribute these AI tools, and Q2 2026 results showed higher first half revenue and a much smaller loss, which hints at improving operating discipline. The catch is that the business is still shifting toward pure software and services, with ongoing integration risk and no clear path to consistent profitability yet. For investors who are interested in AI in the clinic rather than in the lab, Healwell AI’s mix of opportunity and execution risk is worth a closer look.

Healwell AI’s accelerating shift toward AI heavy software and data tools can be easy to underestimate. The real question is what that means for its balance between opportunity and risk in the analysis report for Healwell AI

Perimeter Medical Imaging AI (TSXV:PINK)

Overview: Perimeter Medical Imaging AI develops optical coherence tomography imaging systems, including its Claire OCT platform with ImgAssist artificial intelligence that helps surgeons assess breast tissue margins in real time during breast conserving surgery. The company also supports hospitals and cancer centers with an image library and consumable specimen containers that sit around its AI driven intraoperative imaging hardware.

Operations: Perimeter Medical Imaging AI generates about $2 million in revenue from Medical Imaging Systems, all currently reported from Canada.

Market Cap: $43 million

Perimeter Medical Imaging AI may appeal to investors who are looking at applications of AI in the operating room rather than in back office software. Claire OCT with ImgAssist provides real time AI margin assessment in breast cancer surgery, and early commercial use at Intermountain Health along with new grant funding indicates that clinicians and research programs are engaging with this approach. At the same time, revenue is still small, losses remain meaningful, and the cash runway of less than a year means further funding or dilution is a possibility. The company faces the task of converting clinical adoption and consumables into a more durable business model, and its small scale and higher risk profile are important considerations for investors.

Perimeter Medical Imaging AI sits at the crossroads of AI guided breast cancer surgery and a funding clock that is already ticking. Before dismissing it as too early stage, review the 2 key rewards and 3 important warning signs (1 is major!)

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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