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WELL Health Completes Majority Stake Acquisition of WISP, a Rapidly Growing Digital Health Leader Specializing in Women's Health
WELL Health Completes Majority Stake Acquisition of WISP, a Rapidly Growing Digital Healt...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n \n \n \n WELL Health Completes Majority Stake Acquisition of WISP, a Rapidly Growing Digital Health Leader Specializing in Women's Health\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 PR Newswire\n \n \n \n \n \n Silicon Valley based WISP, Inc. (\"\n \n WISP\n \n \") is a leading national provider of telehealth and e-pharmacy solutions specializing in Women's Health, delivering solutions for female reproductive and sexual health ailments to patients across all 50 states in the US.\n \n \n WELL's\n \n US$41.3 million\n \n control investment in WISP was fully funded via a combination of\n \n US$27.7 million\n \n in cash from treasury,\n \n US$6.2 million\n \n in WELL common shares (issued at a price of\n \n $9.80\n \n /common share) and includes a multi-year performance earn-out up to a maximum of\n \n US$7.4 million\n \n .\n \n \n WISP's current annual revenue run-rate is approximately\n \n US$30 million\n \n and represents greater than 100% YoY organic growth.  WISP has gross margins exceeding 65% and achieved positive EBITDA over the last few quarters.  WELL's cash investment and shared services support is anticipated to help the company significantly scale its growth over the coming quarters.\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 1, 2021\n \n /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) (\"\n \n WELL\n \n \" or the \"\n \n Company\n \n \"), a company focused on empowering healthcare practitioners and their patients with best in class tech enabled healthcare services, is pleased to announce that it has completed the previously announced acquisition of a majority interest in WISP, a US technology leader and innovator in the delivery of quality virtual care and e-pharmacy experiences specializing in women's ...