The Vancouver-based network of medical clinics signed a deal to buy Ontario-based MyHealth Partners and its 48 clinics. The merger will create the largest network of non-government outpatient medical clinics in Canada, with 74 sites. Upon closing the cash-and-stock deal, the entity’s combined revenue and EBITDA are estimated to reach about $400 million and $100 million, respectively. (The Logic)
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The Vancouver-based network of medical clinics signed a deal to buy Ontario-based MyHealth Partners and its 48 clinics. The merger will create the largest network of non-government outpatient medical clinics in Canada, with 74 sites. Upon closing the cash-and-stock deal, the entity’s combined revenue and EBITDA are estimated to reach about $400 million and $100 million, respectively. (The Logic)
Talking point: Well Health’s latest acquisition bolsters its clinic business, but it’s just one vertical in which the TSX-listed firm is growing. Since the start of 2020, it’s acquired or invested in 19 companies focused on a range of areas like employee health benefits, telemedicine and health-records software, according to PitchBook. The company’s virtual-care offerings have been a boon to its business, helping triple its stock price in the past year. The MyHealth acquisition still needs approval from the TSX and Ontario’s Ministry of Health. If approved, MyHealth CEO Suresh Madan will continue leading the company as a subsidiary within Well Health.
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