Business
WELL Health Enters into Agreement to Acquire ExecHealth Inc., a Leading Omni-Channel Health Service Provider in Ontario
WELL Health Enters into Agreement to Acquire ExecHealth Inc., a Leading Omni-Channel Heal...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n \n \n \n WELL Health Enters into Agreement to Acquire ExecHealth Inc., a Leading Omni-Channel Health Service Provider in Ontario\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n ExecHealth, a provider of primary care and executive health services in the\n \n Ottawa\n \n region, signifies WELL's first acquisition of clinical assets in the province of\n \n Ontario\n \n .\n \n \n For the 12 months ended\n \n February 28, 2021\n \n , ExecHealth had unaudited revenues of approximately\n \n $3M\n \n , of which greater than two-thirds is considered recurring membership revenue with EBITDA\n \n (1)\n \n Margins exceeding 50%.\n \n \n ExecHealth is expected to be a highly accretive acquisition, representing WELL's continued expansion into the premium margin corporate and executive health services market.\n \n \n ExecHealth is a high growth operation that has organically grown both its revenues and EBITDA at growth rates of over 20% over the past three years.\n \n \n ExecHealth has over 1,000 clients, with greater than two-thirds being recurring membership clients. As a result of the COVID pandemic, currently more than 50% of its patient visits are delivered via telehealth.\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n April 8, 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 that it has entered into a purchase agreement to acquire all of the issued and outstanding shares of ExecHealth Inc. (\"\n \n ExecHealth\n \n \").  ExecHealth is an omni-channel healthcare provider located in\n \n Ottawa, Ontario\n \n specializing in corporate and executive health, primary care and integrated health services.\n \n \n \n \n \n \n \n \n \n \"We are pleased to announce our agreement to acquire ExecHealth and expand our network into\n \n Ontario, Canada's\n \n largest healthcare market,\" said\n \n Hamed Shahbazi\n \n , Chairman and CEO of WELL. ...