Business
WELL Health to Acquire Source 44 to Enhance its Ability to Protect Healthcare Clinics and Their Data Across Canada
WELL Health to Acquire Source 44 to Enhance its Ability to Protect Healthcare Clinics and...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"\n \n \n \n WELL Health to Acquire Source 44 to Enhance its Ability to Protect Healthcare Clinics and Their Data Across 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. 13, 2020\n \n \n \n \n \n Source 44 provides cybersecurity products and services to businesses across\n \n Canada\n \n and will be WELL's second cybersecurity acquisition.\n \n \n This acquisition is intended to accelerate WELL's overall cybersecurity and risk management program and provides WELL with another compelling opportunity to build shareholder value through accretive and disciplined capital allocation in the cybersecurity space.\n \n \n Over the past 12 months Source 44 generated more than\n \n $20M\n \n in revenues and over\n \n $2M\n \n in EBITDA.\n \n \n Source 44's founders\n \n Peter Giannoulis\n \n and\n \n Robert Kostecki\n \n will continue to operate the company and will look to leverage Source 44's cybersecurity experience and capabilities to improve the Canadian healthcare ecosystem's security posture.\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 13, 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 share purchase agreement dated\n \n November 12, 2020\n \n (the \"\n \n Agreement\n \n \") with the shareholders of Source 44 Consulting Incorporated (\"\n \n Source 44\n \n \"), whereby WELL has indirectly agreed to acquire all of the issued and outstanding shares of Source 44 (the \"\n \n Transaction\n \n \"). Based out of\n \n Markham\n \n , Ontario, Source 44 is a provider of cybersecurity services and solutions for businesses.\n \n \n \n \n \n \n \n \n \n \"We are very pleased with the proposed acquisition of Source 44 as it complements our existing cybersecurity business unit and positions WELL as a leader in providing cybersecurity services,\" said\n \n Hamed Shahbazi\n \n , Chairman and ...