WELL Provides Corporate Update - In the last 10 days, WELL has closed the acquisition of 3 primary care clinics in BC and executed definitive agreements to acquire 4 diagnostic imaging clinics in Alberta with combined revenues of $17M at 7% operating margins, not including post transaction synergies.
- WELL acquired or absorbed 21 clinics in Q4 2023 inclusive of legacy MCI OneHealth and MB Clinic networks and 10 clinics from Shoppers Drug Mart in June 2024 which are now all operating profitably on an Adjusted EBITDA basis.
- WELL's acquisition and absorption pipeline has grown to 5 signed LOIs representing $11.8M in revenues at 5% operating margins and more than 50 clinics in pre-LOI review.
- WELL's Canadian Clinics Business operates at a Pre-Tax Unlevered ROIC1 or "Return on Invested Capital" of approximately 14%. This figure is ~25% for Primary Care and ~11% for WELL Health Diagnostics.
VANCOUVER, BC and TORONTO, Sept. 10, 2024 /CNW/ - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL" or the "Company"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce several important updates to its Canadian clinics business.
WELL Provides Corporate Update on Canadian Clinics Reflecting Strong Growth Momentum and Return on Invested Capital (ROIC) Performance (newswire.ca)