WELL HealthVenturesWELL is investing in the advancement of digital health modernization in Canada. Learn More. WELL HealthVentures
TSX: WELL
WELL Clinics

Objectives & Strategy

The Situation:
Why do we exist?

Despite the influx of technology in our everyday lives, the Canadian primary healthcare system is lagging behind. An under-digitized industry results in under-imagined capability and this lack of modernization has resulted in frustrations and inefficiencies that plague primary healthcare. Patients face long wait times, fragmented healthcare records, and they play a passive role in their personal wellbeing. Physicians are overworked, burdened by operational challenges, and are forced to limit their healthcare offerings to keep their clinics running. At the same time however, government investment in healthcare is growing each year. In 2019, total health expenditure in Canada was expected to reach $265.5 billion, or $7064 per person. It is anticipated that, overall, health spending represented 11.5% of Canada’s gross domestic product (GDP). The industry is ripe for disruption creating significant opportunity for WELL to innovate and evolve primary healthcare.

The Strategy: Outlined in 5 Steps

  • Acquire
  • Integrate
  • Optimize
  • Scale
  • Reinvest

Acquire

WELL is an active acquirer of both digital assets and primary healthcare services. Our acquisition targets are highly accretive physical and digital assets. We are the largest single chain of outpatient healthcare clinics in Canada, which gives WELL both the scale and experience necessary to integrate, optimize, and ultimately productize effectively.

Integrate

The current healthcare industry suffers significantly from interoperability challenges. Although acquisitions help us obtain many of the important pieces needed, it is essential that they work well within the context of primary healthcare practices. By focusing on the integration of technology into its own practice’s existing EMR and daily operations, we can reduce integration and implementation friction at the point of care.

Optimize

Implementation in our own clinic network creates a real-time feedback loop allowing for iterative development and improvement of our software and technology solutions. Patient and healthcare professional feedback provides WELL invaluable insight allowing for optimization of our products and services.

Scale

Advancing Canada’s healthcare system is achieved by addressing its main problem: fragmentation. In smaller scale clinics, patients are often unattached and as a result are the recipients of inconsistent care. Through productization, we expand our reach and increase the scale of our business. A larger network creates the opportunity for the secure permissions-based sharing of patient healthcare records within each patient’s personal healthcare network and reduction of healthcare record fragmentation. This creates opportunities for personalized care which in turn improves healthcare outcomes.

Reinvest

Acquisition of cash generating companies leads to increased cash flows which are re-invested to make additional new cash generating acquisitions.