And a bit more on acquisitions. GLTA
WELL has been busy this month with the acquisition of CarePlus and a strategic alliance with MCI. With MCI it mentions AI opportunities in the health platform. Your view?
The DRDR acquisiton is a nice deal for WELL from a relatively-stressed seller. But it is not hugely material, adding $21M in sales to an expected run rate of $738M this year. It adds 11 clinics and 130 doctors, and WELL is also financially supporting DRDR. As is the case these days, the press release also throws in some AI commentary but we would not read too much into that. Careplus is a bigger deal, and the company provides digitization and staffing services across 29 states. While terms were not disclosed, on the same day as the announcement, WELL increased its guidance for the year, so Careplus is most likely more significant. But it is a fairly typically M&A deal for WELL, and makes sense from a strategic and diversification standpoint.