Vancouver-based Well Health Technologies, which consolidates assets in the space, entered into an agreement to acquire all of also Vancouver-based CRH’s issued and outstanding shares at US$4 per share for about US$292.7 million, with a transaction value of about US$369.2 million, including a CRH credit facility. (The Logic)

Talking point: Well and a group of institutional and individual investors, including Li Ka-shing, will raise $295.5 million in equity in a non-brokered offering expected to close mid-February. Well expects the acquisition to provide it with “deep access to the U.S. healthcare system” as CRH provides products and services in 13 states, and anticipates revenue per share will grow about 120 per cent as a result. Well has closed on eight acquisitions since the beginning of Q4 2020, including Insig and Easy Allied Health. The pandemic has prompted interest in telehealth companies, with MindBeacon’s splashy public debut and Loblaw’s continued investment in the space.