WELL Health Closes $12.6 Million Acquisition Of Ontario Clinic

WELL Health (TSX: WELL) has closed the acquisition of ExecHealth, the first such purchase of clinical assets within Ontario. The transaction was originally announced just one month ago, at a purchase price of $12.6 million.

The transaction saw the company acquire a provider of primary care and executive health services within the Ottawa Region. The company reportedly had unaudited revenues of $3.0 million for the year ended February 28, 2021, effectively resulting in the company paying 4.2x top line revenue. EBITDA margins meanwhile are reportedly over 50%.

Consideration for ExecHealth consisted of $6.5 million paid out in cash, as well as $4.2 million paid via the issuance of 561,822 common shares of the company. The remaining $1.9 million is reserved for milestone payments over a “multi-year period,” that can be paid in either cash or shares at WELL’s discretion.

WELL Health last traded at $7.22 on the TSX.

Information for this briefing was found via Sedar and WELL Health Technologies Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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