Vancouver-based Well is acquiring 11 of MCI Onehealth’s 14 clinics in Ontario, lending it $3 million at high interest immediately and taking over other debt. Well will get seats on MCI’s board and rights to buy up to 81.5 per cent control over the next three years. Holders of some current multiple-voting shares will be wiped out. (The Logic)

Talking point: Both Well and MCI formerly ran chains of primary-care clinics using digital technology to optimize both clinical and administrative work. But as Well has expanded through multiple acquisitions, MCI has run low on cash and scaled back, including by selling clinics to Well in a previous deal in May. In its new form, MCI will target “AI-powered health-care technology and clinical research” based on the work of Khure, a company it bought in 2021, the announcement of the deal said; it will, however, keep a handful of clinics as research sites.