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HEALWELL Receives Regulatory Approval from Overseas Investment Office of New Zealand to Acquire Orion Health
HEALWELL receives consent from the Overseas Investment Office of New Zealand (the " OIO ") for HE...
About this update from Healwell Ai Inc. Class A
[{"type":"text","content":"HEALWELL Receives Regulatory Approval from Overseas Investment Office of New Zealand to Acquire Orion HealthHEALWELL receives consent from the Overseas Investment Office of New Zealand (the \"OIO\") for HEALWELL to acquire all of the shares (the \"Orion Shares\") of Orion Health Holdings Limited (\"Orion Health\"), as contemplated in the previously disclosed share purchase agreement dated December 16, 2024. Orion Health is a leader in global healthcare technology, with over 70 customers worldwide in 11 countries and approximately 400 team members. Orion Health generates revenues via subscription license and services by serving marquee public sector clients globally with data interoperability and healthcare navigation products and services. The acquisition of Orion Health will provide opportunities for global health systems to access HEALWELL's best-in-class AI technology to deliver actionable insights and drive better healthcare outcomes.Following receipt of OIO consent, HEALWELL will commence closing process and anticipates it will close the transaction and acquire 100% of Orion's Shares on or before April 1, 2025.Toronto, Ontario--(Newsfile Corp. - February 10, 2025) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) (\"HEALWELL\" or the \"Company\"), a healthcare artificial intelligence company focused on preventative care, is pleased to announce that the Company has received consent from the Overseas Investment Office of New Zealand (the \"OIO\") for HEALWELL to acquire all of the ordinary shares (the \"Orion Shares\") of Auckland, New Zealand-based Orion Health Holdings Limited (\"Orion Health\"), as contemplated in the share purchase agreement dated December 16, 2024, among the Company, Orion Health and McCrae Limited, as sole vendor, after the concurrent divestiture of Orion Health's non-strategic divisions, for total consideration of NZD$175 million plus a performance based earnout of up to a further NZD$25 million.Orion Health is a global leader in developing and deploying healthcare information exchange and intelligence platforms with over 70 customers in 11 countries worldwide and approximately 400 team members, including marquee public sector clients. HEALWELL and Orion Health are well-positioned to harvest significant revenue and cost synergies and with the combined mission to revolutionize healthcare through AI and data...