Business
WELL Health to Acquire 100% of INSIG Corporation, a Leader in Telehealth Services in Canada
WELL Health to Acquire 100% of INSIG Corporation, a Leader in Telehealth Services in Cana...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n \n \n \n WELL Health to Acquire 100% of INSIG Corporation, a Leader in Telehealth Services in Canada\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 VANCOUVER, BC, Nov. 9, 2020\n \n \n \n \n \n INSIG is a leading Canadian virtual care platform with a unique SaaS-enabled marketplace currently supporting over 2,800 healthcare practitioners with approximately 200,000 virtual care appointments\n \n (1)\n \n served in the last 90 days.  The platform has been used by over 500,000 patients\n \n (2)\n \n since inception.\n \n \n WELL had previously developed its telehealth program known as VirtualClinic+ on INSIG's full-stack platform and tools.  WELL already owned/acquired ~40% of INSIG and is now acquiring the remainder of the company.\n \n \n This acquisition is expected to result in the addition of\n \n $6.5 million\n \n in annual telehealth revenues to WELL after elimination of intercompany revenues.  INSIG has on average grown at double digit monthly growth rates since the start of the COVID-19 pandemic and continues to grow quickly.\n \n \n Following closing, founders\n \n Matthew Mazzuca\n \n and\n \n David Del Balso\n \n will continue to lead INSIG as a wholly-owned subsidiary with an ambitious growth mission to: (i) continue to develop the best virtual care experiences for healthcare providers and patients; and (ii) grow INSIG's telehealth market share.\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 9, 2020\n \n /CNW/ - WELL Health Technologies Corp. (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 it has entered into a definitive share purchase agreement dated\n \n November 6, 2020\n \n (the \"\n \n Agreement\n \n \") with INSIG Corporation (\"\n \n INSIG\n \n \"), a market leading virtual care platform in\n \n Canada\n \n , and the selling shareholders of INSIG pursuant to which WELL has agreed to acquire the issued and outstanding INSIG shares that WELL does...