The Vancouver-based health company is preparing to split into two: one providing care, the other selling services to other health providers. The latter is to be spun off into a new company, called Wellstar, by the end of next year. In the meantime, it took on $50.4 million in equity investment from Mawer, Edgepoint and PenderFund, plus current Well executives, at a valuation of $285 million. (The Logic)

Talking point: Well also said it had bought two more technology companies to fold into the Wellstar family but didn’t name them; spokesperson Tyler Baba told The Logic it’ll identify them soon. Well Health will keep a controlling interest in Wellstar and its CEO will be current Well COO Amir Javidan, according to the announcement. In its latest quarterly results, Well reported that its technology services segment made about $15.6 million in revenue—roughly one-tenth of the clinical services segment’s revenue, but with much higher operating margins.