I didn't think so at first, but I would allow it. Clerics and Arcanists have allways had some spell over lap, but it is in favor of the cleric, especially with certain domains. Most cleric spells are not so versatile or effective in dealing direct damage as wizards, but they can do it. Giving a wizard a way to heal with spells, like they can use alchemy to make healing salves, dosn't seem to unballancing, especially at mid to high levels where 1D6 per spell is next to nothing. It would give them more survivability at lower levels, too.
Of course, Sorrcerers could get a little crazy with it, and I could see this as becoming the new "must have" spell. Next thing you know, Clerics could want spells like "positive" energy wave, to do for their group what Necromnancers can do for their undead troops, hurt the enemy while you heal your allies. You could easily disallow it by saying that Arcanists can chanel positive energy to the point of disrupting negative energy, but not with the finess or divine guidance to make it heal.