Business
WELL Health to Acquire MyHealth and Become Largest Outpatient Medical Clinic Owner-Operator and Leading Multi-disciplinary Telehealth Service Provider in Canada
WELL Health to Acquire MyHealth and Become Largest Outpatient Medical Clinic Owner-Operat...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n \n \n \n WELL Health to Acquire MyHealth and Become Largest Outpatient Medical Clinic Owner-Operator and Leading Multi-disciplinary Telehealth Service Provider 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.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen1{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MyHealth Partners Inc. (\"\n \n MyHealth\n \n \") is a leading specialty care, telehealth services and accredited diagnostic health services provider that owns and operates 48 locations across\n \n Ontario\n \n .\n \n \n MyHealth is a Canadian healthcare powerhouse that has grown at a 40% revenue and EBITDA\n \n (1)\n \n CAGR over the past five years, including a 15% organic growth rate over that period and has completed 25 acquisitions in the past eight years.\n \n \n This foundational acquisition positions WELL as the largest owner-operator of outpatient medical clinics in\n \n Canada\n \n with 74 combined clinics.\n \n \n Approximately 75% of MyHealth's medical consultations are conducted via telehealth, which when combined with WELL's multiple telehealth businesses will make WELL the leading multi-disciplinary telehealth service provider in\n \n Canada\n \n .\n \n \n Post transaction, the MyHealth acquisition is expected to generate proforma revenues of approximately\n \n C$100M\n \n \n (2)\n \n with EBITDA\n \n (1)\n \n margins of approximately 20% in 2021. Upon closing, WELL's combined revenue will be expected to approach\n \n C$400M\n \n and\n \n C$100M\n \n in EBITDA\n \n (1)\n \n on a run-rate basis.\n \n \n The purchase price due upon closing of\n \n C$206M\n \n is fully funded via a combination of WELL shares (priced at\n \n C$9.80\n \n /share), vendor tak...