WELL Health Technologies Corp T.WELL

First Quarter Summary by Angad Capital

[ace1mccoy]

1. WELL Health Technologies (TSX: WELL) - WELL Health continues on its impressive pace of acquisitions.  During the quarter, WELL announced a monumental acquisition of CRH Medical for approx. US$369M which was funded by a C$302.5M equity raise at a premium to the market price.

 

• WELL Health has recently reported its fiscal fourth quarter and annual financial results for the three and twelve months ended December 31, 2020.  WELL had another strong quarter posting record quarterly revenues of $17.2 million in Q4-2020 while achieving positive Adjusted EBITDA.  While total annual revenue for WELL exceeded $50 million in the year ended December 31, 2020, the Company is currently on an annualized revenue run-rate approaching $300 million, including the proposed acquisitions of CRH Medical Corporation and Intrahealth Systems Ltd. 
• On February 17, 2021, WELL Health announced the completion of a C$302.5 million equity offering from a group of institutional and individual investors led by Hong Kong Billionaire, Mr. Li Ka-Shing. The offering will be used for the acquisition of CRH Medical Corp., a provider of anesthesia services in 70 Gastrointestinal (GI) focused Ambulatory Surgery Centres (ASC) across the United States.  CRH generates over US$120M in annual revenues at approximately 40% operating EBITDA margin and more than 25% free cash flow margin.  Aside from the financial benefits of the deal, CRH is a strong strategic fit for WELL as it provides them with a meaningful U.S. based channel of customers and practitioners to which they can offer a diverse multi-pronged offering of digital health tools and capabilities.
• On March 8, 2021, WELL Health announced the acquisition of Intrahealth Systems Ltd., an enterprise class EMR provider that supports a variety of healthcare settings including hospitals, home care, ambulatory care, public health outpatient centers across its global network in Canada, Australia and New Zealand.  Over the past 12 months Intrahealth generated approximately $9M in revenues with over 20% in EBITDA margin.  This acquisition is expected to be highly complementary and immediately accretive to WELL’s revenue and profitability.

 
About WELL Health Technologies
WELL is an omni-channel digital health company whose overarching objective is to empower doctors to provide the best and most advanced care possible while leveraging the latest technology and trends in digital health.  As such, WELL owns and operates 27 primary healthcare medical clinics, is Canada’s third largest Electronic Medical Records (EMR) supplier serving over 2,200 medical clinics, operates a leading national telehealth service in Canada and the United States and is a provider of digital health, billing and cybersecurity related technology solutions. The Company is publicly traded on the Toronto Stock Exchange under the symbol "WELL".

[thinkyourmoney]

On top of all of this check on CRH on this billboard.  CRH has been busy making acquisitions that are revenue and EBITA positive since it's earnings report as well. Or go to the CRH website and read about them there. Also remember that April 19th is when shareholders of CRH vote on the buyout proposal from WELL. Should that be approved, that is a giant step forward for WELL to

[ace1mccoy]

Years ago , I had CRH in my portfolio but cut it away for some reason.  Fully agree . It seems that CRH is going to continue to be the M&A wing man of WELL. JMHO 

[OnlyOIL]

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