The B.C.-based healthtech company said it will use the money to fund growth. A syndicate led by Eight Capital and Stifel GMP is buying 8.1 million shares at $3.70 apiece; Well’s stock has slid more than 42 per cent in the last six months and closed at $3.71 Thursday. It has just over 208 million shares outstanding. (The Logic)
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The B.C.-based healthtech company said it will use the money to fund growth. A syndicate led by Eight Capital and Stifel GMP is buying 8.1 million shares at $3.70 apiece; Well’s stock has slid more than 42 per cent in the last six months and closed at $3.71 Thursday. It has just over 208 million shares outstanding. (The Logic)
Talking point: The company’s announcement said it has “indications of interest” in the shares from a large sovereign wealth fund and Hong Kong businessman Li, who would be upping his stake after investing millions in Well previously. Well runs primary-care clinics, diagnostic tests and virtual-care systems and also offers services such as electronic-records management to other providers. It’s added specialty clinics and services in the U.S. and a combination of those acquisitions and organic growth has increased revenue from $25.6 million in the first quarter of 2021 to $126.5 million in the same quarter this year, it reported Wednesday.
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