WELL is a provider of primary, allied, secondary, diagnostic and specialized care services in Canada and US. WELL’s clinic network currently comprises of 74 clinics – 20 clinics in British Columbia, 5 clinics in Quebec, and 49 clinics in Ontario – making us the largest clinic operator in Canada. WELL’s Canadian operations also include offering several allied care services. In US, WELL has majority stake ownership in both Circle Medical, which is a National US telehealth provider that also operates 2 medical clinics and CRH Medical, which currently serves 72 ambulatory surgical centers in 15 US states.
Through the suite of digital health tools and WELL’s EMR services, we deliver end-to-end patient care and empower practitioners with latest trends in digital health. Together, both sides of the business, the omni-channel patient services and virtual, allow us to create effective change and make a positive impact on healthcare in Canada.
WELL is a provider of primary, allied, secondary, diagnostic and specialized care services in Canada and US. With a total of 74 clinics, WELL is the largest clinic owner and operator in Canada.
The WELL Health Medical Clinic Network currently comprises of 20 clinics in British Columbia, 5 clinics in Quebec and 2 clinics in the United States. This makes us the largest single chain of primary healthcare clinics in British Columbia and one of the largest in Canada. Our team has over 200 healthcare practitioners, helping us serve patients every day. Our clinics are the core of our organization. They offer a wide array of services such as walk-in appointments, family medicine, sleep apnea facilities, Botox treatments, and women’s health clinics. Our clinics also inform us on the ways in which we can improve our products to best address the concerns of healthcare workers and patients.
Learn more at wellclinics.ca
On December 8, 2020, WELL Health Technologies Corp. acquired all the issued and outstanding shares of ExcelleMD Inc and its affiliate VirtuelMED Inc for $4.5M. ExcelleMD’s Annual Revenue Run-rate at the time of the acquisition was approximately $6M with operating EBITDA margins greater than 20%. This highly accretive acquisition marks WELL’s entry into the province of Québec as well as higher margin corporate and executive health services. ExcelleMD has also created a network of non-corporate owned affiliate locations that participate in its executive health offerings across the country.
ExcelleMD group has 26 medical practitioners and 12 nurse practitioners providing healthcare services across two clinics in Montreal in L’Acadie and Outremont regions, two clinics located in Saint-Eustache and one in Terrebonne. ExcelleMD is an omni-channel healthcare provider servicing companies, executives, and consumers. In addition to providing primary care services, ExcelleMD also provides additional healthcare related services and treatments including sports medicine, management of ADD (attention deficit disorder), andropause (low testosterone), comprehensive health check-ups, corporate health services, screening for STDs, and care for mental health. In addition, the clinics screen, diagnose and treat diabetes, high cholesterol, and hypertension.
Learn more at excellemd.com
On May 3, 2021, WELL Health Technologies Corp. announced completion of the acquisition of ExecHealth Inc. For the 12 months ended February 28, 2021, ExecHealth had unaudited revenues of approximately $3M, of which greater than two-thirds is recurring membership revenue with EBITDA Margins exceeding 50%.
ExecHealth is an omni-channel healthcare provider located in Ottawa, Ontario, specializing in corporate and executive health, primary care and integrated health services. Since 2005, ExecHealth has provided medical care to professionals and families, including executives, diplomats and other professionals in the Ottawa region. In addition to providing primary care services, ExecHealth provides corporations and other organizations with executive health, employee wellness, pre-employment and periodic medical exams as well as other integrative services such as physiotherapy and counselling services. 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. As a result of the COVID pandemic, over half of ExecHealth’s patient visits are currently delivered via telehealth vs. in-person consultations.
ExceHeallth is the first acquisition WELL has made of clinical assets in the Province of Ontario, representing WELL Health Clinic Network’s continued expansion into the premium margin corporate and executive health services market.
Learn more at exechealth.ca
On April 22, 2021, WELL Health Technologies Corp. acquired all of the issued and outstanding shares of CRH Medical Corp. for US$4.00 per share in cash, representing an equity consideration of approximately US$286.6 million and a transaction value of approximately US$372.9 million, inclusive of CRH’s credit facility. In conjunction with this Acquisition, CRH becomes a wholly-owned subsidiary of WELL and will operate autonomously as WELL’s seventh distinct business unit under the leadership of Dr. Tushar Ramani, CRH’s Chair and CEO.
CRH is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases. In 2014, CRH became a full service gastroenterology anesthesia company that provides anesthesia services for patients undergoing endoscopic procedures in ambulatory surgical centers. At the time of the acquisition, CRH has completed 33 anesthesia acquisitions, and now serves 72 ambulatory surgical centers in 15 states. In addition, CRH owns the “CRH O'Regan System”, a single-use, disposable, hemorrhoid banding technology that is safe and highly effective in treating all grades of hemorrhoids. CRH distributes the O'Regan System, treatment protocols, operational and marketing expertise as a complete, turnkey package directly to gastroenterology practices, creating meaningful relationships with the gastroenterologists it serves. CRH's O'Regan System is currently used in all 48 lower US states.
This monumental acquisition meaningfully enhances WELL’s free cash flow profile, enabling future reinvestment, capital compounding, and capital allocation opportunities across other attractive healthcare and healthcare-technology segments. Furthermore, it significantly boosts WELL’s revenue and EBITDA profile, dramatically enhances its U.S. operations, and provides WELL with additional inorganic and organic growth opportunities.
Learn more at investors.crhsystem.com
WELL Health Allied Care is a wholly owned subsidiary primarily focused on operating, investing in and/or unlocking opportunities associated with allied health offerings such as physiotherapy, rehabilitation, occupational therapy, chiropractic, dietary, mental health counselling and sleep related services. WELL’s vision is to empower allied health professionals with digital resources such as WELL’s Electronic Medical Record (EMR) and telehealth capabilities in order to advance their practices and allow them to better support patients. WELL Health Allied Care is committed to activating a greater degree of multidisciplinary and team based longitudinal care in WELL’s own portfolio of owned and operated medical Clinics such that WELL patients can receive a greater degree of integrated patient centric care. WELL Health Allied Care embraces health practitioners working in a collaborative environment to support primary care physicians in a multi-disciplinary, team-based care support model.
SleepWorks is engaged in the business of providing services in connection with the diagnosis and treatment of sleep disorders and the sale of equipment related to sleep disorders. SleepWorks currently provides services in 22 clinical locations throughout the Greater Vancouver region, including all 19 of WELL Health’s clinics. SleepWorks has been a valued partner to WELL clinics for 6 years and has earned the trust of many of our physicians for their top-notch service. On October 1, 2019, WELL acquired 51% majority ownership in SleepWorks with an investment of $1.13 million. In the 12 months prior to the acquisition, SleepWorks has generated more than $1.7M in revenues with EBITDA margins exceeding 25%.
Learn more at sleepworksmedical.com
On November 3, 2020, WELL acquired 51% majority ownership in Easy Allied Health with an investment of $1.1 million.
Easy Allied is comprised of a mobile network of health experts focused on the fields of physiotherapy, occupational therapy, kinesiology, and clinical counselling. Easy Allied’s mission is to provide a team of integrated health professionals to support the community in the most convenient way for clients to regain and maintain independence and manage pain.
Learn more at easyalliedhealth.ca
WELL Health Technologies Corp. acquired all issued and outstanding shares of MyHealth on July 15, 2021. he purchase price for the Transaction was $206M plus a future conditional earn-out of up to $60M. MyHealth is expected to generate proforma revenues of approximately C$100M with EBITDA margins of approximately 20% in 2021. With the acquisition of MyHealth, WELL will become the largest out-patient integrated primary, specialty and diagnostic healthcare provider in Canada.
Founded in 2013 and boasting 48 locations across Ontario, MyHealth has over 700 healthcare professionals including over 150 physicians providing patient services in primary care, specialty care, telehealth services and accredited diagnostic health services. Primary care consultations are provided both in-person and through telehealth, as well as diagnostic services related to cardiology, women’s health, bone/muscle health and cancer diagnostics. MyHealth has conducted over 50,000 telehealth patient visits on an annualized basis, and approximately 75% of MyHealth’s primary care physicians consultations are telehealth-based visits. MyHealth adopts a physician-centric approach to cultivate relationships with referring physicians and patients to generate repeat referrals. MyHealth’s revenue is diversified not only through a broad range of service offerings but also through a diverse network of over 10,000 referring physicians. MyHealth embraces digital health tools and technologies including software to drive referrals, patient portal access to radiology records, mobile booking app and a proprietary business intelligence system to drive centralized decisions. MyHealth doctors already use WELL’s OSCAR Pro EMR to support its primary care services and is integrated with INSIG’s proprietary workflow and patient in-take platform.
Learn more at myhealthcentre.ca
In early March 2020, WELL opened its new dermatology clinic in North Vancouver known as the “DERMLab”. The DERMLab features three of Vancouver’s eminent dermatologists, who will treat patients for a variety of medical dermatology and cosmetic services and has been outfitted with state-of-the-art equipment that can address more than 20 unique indications on all skin types.
Learn more at dermlab.ca
Spring Medical, based out of Burnaby, BC, is a premier provider of integrated medical services. Spring Medical offers an extensive range of services including family physician, pediatrician, physiotherapy, chiropractic, acupuncture, massage therapy, reflexology, hearing aid specialist, counselors and many more. Spring Medical streamlines the process of providing health services to patients by having a wide range of services available in one convenient location.
On December 2, 2019, WELL acquired 51% majority ownership in Spring Medical with an investment of $667,000. In the 12 months prior to the acquisition, Spring Medical generated more than $2.3 million in revenues with EBITDA margins exceeding 10%. Spring Medical currently provides services to approximately 27,000 patients in all areas of care.
Learn more at springmedicalcentre.com