Li Ka-shing, the wealthiest man in Hong Kong, led Well Health’s private placement. The telehealth firm also spent US$14 million to acquire Silicon Valley-based Circle Medical, which currently operates in 35 states. (The Logic)

Talking point: Well Health is on an acquisition spree. In June, it completed its seventh acquisition of an electronic medical records firm with its purchase of Indivica. In August, it bought the services division of cybersecurity Cycura for about $2.55 million, bringing its total acquisitions to 12. The firm’s expansion comes as its revenue is increasing. It posted second-quarter revenue of $10.6 million, a 43 per cent year-over-year rise. The firm currently acts as a supplier to over 2,000 medical clinics. The Circle Medical acquisition gives Well Health access to a much larger target market, as the former has relationships with insurers providing care to about 200 million people.