Business
WELL Health Completes Acquisition of Adracare, Expanding into New Health Markets Around the Globe
WELL Health Completes Acquisition of Adracare, Expanding into New Health Markets Around t...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n \n \n \n WELL Health Completes Acquisition of Adracare, Expanding into New Health Markets Around the Globe\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.prntal{\nTEXT-ALIGN: LEFT\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 \n VANCOUVER, BC\n \n and\n \n TORONTO\n \n ,\n \n Jan. 4, 2021\n \n /CNW/ -\n \n WELL Health Technologies Corp.\n \n (TSX: WELL) (\"\n \n WELL\n \n \" or the \"\n \n Company\n \n \"), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to announce:\n \n \n \n \n \n \n \n \n \n \n WELL has completed its previously announced acquisition of all the issued and outstanding shares of Adracare Inc. (\"\n \n Adracare\n \n \").\n \n \n Adracare is a comprehensive omni-channel practice management platform serving over 6,800 allied healthcare practitioners in five countries. Adracare's largest customer sectors include mental health, medicinal cannabis, and physical therapy.\n \n \n The Adracare platform was built to support providers of all sizes from SMB to large enterprises, including some of the largest physiotherapy and medicinal cannabis companies in\n \n Canada\n \n who use and private label the Adracare platform to support their customers.\n \n \n Adracare is expected to be immediately accretive to WELL as it is expected to generate annualized revenue of close to\n \n $2 million\n \n \n (1)\n \n and be profitable on an EBITDA\n \n (2)\n \n basis.\n \n \n \n \n Hamed Shahbazi\n \n , Chairman and CEO of WELL commented, \"We are delighted to welcome Adracare to the WELL family.  Adracare's unique telehealth enabled practice management platform has already demonstrated strong success with some of\n \n Canada's\n \n most recognized brands.  Adracare helps WE...