WELL is committed to providing cyber security protection and patient data privacy across all of its businesses including primary care, Electronic Medical Record (EMR), telehealth and digital health solutions.
The WELL Cybersecurity business unit is led by Iain Paterson, CEO, and Melinda Coultar, Vice President of Services.
On August 4th, 2020, WELL Health Technologies Corp. acquired all the assets related to Cycura’s Services Division for $2.55M in all cash. In the 12 months prior the acquisition, Cycura’s Services Division generated revenues exceeding $1.7M. The Transaction is expected to be immediately accretive to WELL, contributing double digit EBITDA margins.WELL’s acquisition of Cycura’s Services Division elevates WELL’s cybersecurity program with an industry leading team with extensive experience in the healthcare and technology sectors.
Cycura Inc. is a leader in providing top-tier cybersecurity services, whose key principals have extensive experience in protecting patient health data in the provincial Ministry of Health and acute care hospital settings. Cycura provides its cybersecurity services to a number of high-profile companies in various industries across Canada, including a collection of healthcare related clients focusing on mental health, telemedicine, health insurance and benefits, and other disciplines. Cycura has also recently completed technical security assessments on medical devices used nationwide in both acute care and long-term care settings
Learn more at Cycura.com
On December 2, 2020, WELL Health Technologies Corp. acquired all of the issued and outstanding shares of Source 44. Over the previous 12 months prior to the acquisition, Source 44 had achieved more than $20M in revenues and EBITDA exceeding $2M. 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.
Source 44 provides a wide array of cybersecurity services including managed network and vulnerability services, risk assessments, penetration testing and cybersecurity audits, in addition to deploying network and security related products and solutions for businesses. Source 44 has a proven track record of providing managed cybersecurity services, and complex security related products and services to organizations of all sizes particularly large enterprises, including healthcare organizations. Additionally, Source44 enhances WELL’s ability to protect healthcare clinics and their data across Canada, as cybersecurity continues to be a top priority for the healthcare industry.
Learn more at source44.net