WELL Health Technologies Corp. - CMO, Dr. Michael Frankel.
CMO, Dr. Michael Frankel.
Source: WELL Health Technologies Corp.
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  • WELL Health Technologies Corp. (WELL) has formed a new entity called WELL Health Canada Clinics Inc. and expands its network
  • This includes primary care, allied care, and MyHealth Specialized Care business units
  • The unit helps 1,300 healthcare practitioners with 1.87 million patient visits annually
  • The business will generate revenues of $160 million with double digit operating adjusted EBITDA margins
  • WELL recently added a primary care clinic in Vancouver to its network and a new greenfield hemorrhoid treatment centre in Hamilton, Ontario
  • WELL Health Technologies Corp. (WELL) is down 0.31 per cent and is trading at $3.16 per share as of 12:18 p.m. ET

WELL Health Technologies (WELL) has formed a new entity to house its Canadian omnichannel clinical businesses and expands its network.

Clinical businesses include primary care, allied care, and MyHealth Specialized Care business units, but not the TiaHealth service.

“This consolidation of our Canadian clinics business provides WELL with the proper foundation to become a national health system providing the very best in highly integrated ‘bricks and clicks’ care… to provide healthcare practitioners with a compelling home where they are supported with exceptional front and back-office support and technology solutions so they can provide critical care to their patients,” Dr. Michael Frankel, WELL’s CMO, said.

According to the company, this business unit helps about 1,300 healthcare practitioners with 1.87 million patient visits annually. WELL also expects the business to generate revenues exceeding $160 million with double-digit operating adjusted EBITDA margins.

WELL stated it will look to continue its consolidation and revolution of healthcare resources in Canada powered by its organic growth and its funding partners’ help.

Moving forward, the company plans to grow its network of outpatient clinics through greenfield sites and new acquisitions. WELL recently added a primary care clinic in Vancouver to its network and a new greenfield hemorrhoid treatment centre in Hamilton, Ontario.

WELL Health Technologies Corp. (WELL) is down 0.31 per cent and is trading at $3.16 per share as of 12:18 p.m. ET.

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