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WELL Health Announces Major Expansion into U.S. Market with Proposed Acquisition of CRH Medical and Concurrent C$295.5M Equity Offering Led by Mr. Li Ka-Shing at a 25% Premium to Market
WELL Health Announces Major Expansion into U.S. Market with Proposed Acquisition of CRH M...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n \n \n \n WELL Health Announces Major Expansion into U.S. Market with Proposed Acquisition of CRH Medical and Concurrent C$295.5M Equity Offering Led by Mr. Li Ka-Shing at a 25% Premium to Market\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN\n \n CANADA\n \n ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n NYSE and TSX listed CRH Medical or \"CRH\" generates a revenue run-rate\n \n (1)\n \n that is greater than\n \n US$120M\n \n with approximately 40% operating EBITDA\n \n (2)\n \n margins and more than 25% free cash flow\n \n (3)\n \n margins.\n \n \n Significant financial accretion anticipated for WELL, including approximately 120% on a revenue per share basis and 800% on an EBITDA per share basis in 2021.\n \n \n Proposed acquisition of CRH represents a significant opportunity for WELL to provide digital tools, tech-enablement and data protection to 69 Ambulatory Surgery Centers\n \n (4)\n \n or \"ASCs\" and GI (Gastroenterologist) Clinics located in 13 U.S. states and thousands of GI partners in all 48 lower US states.\n \n \n Meaningfully enhances WELL's free cash flow profile, enabling future reinvestment, capital compounding, and capital allocation opportunities across other attractive healthcare and healthcare-technology segments.\n \n \n Fully-funded via: (i)\n \n C$295.5M\n \n non-brokered private placement led by Mr.\n \n Li Ka\n \n -shing and leading Canadian and US based financial institutions at\n \n C$9.80\n \n , a 25% premium to WELL's 5-day VWAP; (ii) committed credit facilities from the Canadian Imperial Bank of Commerce as lead arranger and ...