WELL Health Technologies Corp T.WELL

Alternate Symbol(s): WHTCF | T.WELL.DB

Healthcare Medical Care

WELL Health Technologies Corp. is a Canada-based practitioner-focused digital healthcare company. Its healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. Its business units include Canadian Patient Services, WELL Health USA Patient and Provider Services, and SaaS and Technology Services. Its solutions enable more than 38,000 healthcare providers between the United States and Canada and power owned and operated healthcare ecosystem in Canada with over 200 clinics supporting primary care, specialized care, and diagnostic services. In the United States its solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL Health USA Patient and Provider Services consists of four assets: CRH Medical, Provider Staffing, Circle Medical and Wisp. It provides cybersecurity protection and patient data privacy solutions.

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WELL Health Technologies Corp

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Post by Noshortsallowedon Jun 07, 2021 6:39am

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Post# 33338781

Huge News: Nasdaq here we come

WELL Health to Acquire MyHealth and Become Largest Outpatient Medical Clinic Owner-Operator and Leading Multi-disciplinary Telehealth Service Provider in Canada

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WELL Health Technologies Corp.

Jun 07, 2021, 06:00 ET

MyHealth Partners Inc. ("MyHealth") is a leading specialty care, telehealth services and accredited diagnostic health services provider that owns and operates 48 locations across Ontario.
MyHealth is a Canadian healthcare powerhouse that has grown at a 40% revenue and EBITDA(1) CAGR over the past five years, including a 15% organic growth rate over that period and has completed 25 acquisitions in the past eight years.
This foundational acquisition positions WELL as the largest owner-operator of outpatient medical clinics in Canadawith 74 combined clinics.
Approximately 75% of MyHealth's medical consultations are conducted via telehealth, which when combined with WELL's multiple telehealth businesses will make WELL the leading multi-disciplinary telehealth service provider in Canada.
Post transaction, the MyHealth acquisition is expected to generate proforma revenues of approximately C$100M(2) with EBITDA(1) margins of approximately 20% in 2021. Upon closing, WELL's combined revenue will be expected to approach C$400Mand C$100M in EBITDA(1) on a run-rate basis.
The purchase price due upon closing of C$206M is fully funded via a combination of WELL shares (priced at C$9.80/share), vendor takeback financing, and new senior credit facilities to be provided by a syndicate of banks led by The Royal Bank of Canada leveraging exclusively the collateral of the MyHealth asset itself. The deal reflects accretion of 20% and 28% on an EBITDA per share and Revenue per share basis respectively with less than 5 percent dilution.