Wielder's Remedy and Vengeful Weapon can be used for approximately the same effect (This will remove the condition upon spell cast, not upon damage taken). Though this combo uses 2 spells instead of just one for a slightly smaller heal with risk of enchantment removal, you have your elite slot free.
Bug! If you are under the effects of this spell and you are struck by a dungeon trap, Weapon of Remedy will steal health from one random party member, with the possibility of stealing health from yourself.
Bug! If a creature has both Weapon of Remedy and Barbs on it, hitting that creature with Physical damage will result in Weapon of Remedy activating on the caster of Barbs as well as the attacker.