WELL Health Acquires Seven Healthcare Assets Including Jack Nathan Health and Harmony Anesthesia Staffing

WELL Health Acquires Jack Nathan Medical Corp.'s Canadian Clinical Assets

November 5, 2024

Healthcare Services

WELL Health Technologies Corp. completed the acquisition of the Canadian clinical assets of Jack Nathan Medical Corp., adding a portfolio of owned and licensed clinics (rebranded as WELL Health Medical Centres) and rights to operate clinics in Walmart Canada locations. The deal expands WELL’s national clinic footprint (72 clinics in total per WELL’s release), adds physician capacity, and is expected to drive immediate synergies and EBITDA-positive performance in 2025.

CRH Medical (WELL Health) Acquires Majority Stakes in Two Anesthesia Practices

May 27, 2021

Healthcare Services

CRH Medical Corporation, a wholly owned subsidiary of WELL Health Technologies, acquired 51% stakes in Northern Indiana Anesthesia Associates, LLC and an add-on Bradenton, Florida practice for FDHS Anesthesia, LLC. The two accretive add-ons have a combined annualized revenue run-rate of approximately US$3.3 million, add 16 practitioners, and expand CRH's anesthesia footprint across ambulatory surgical centers in the United States.

WELL Health Acquires CRH Medical Corporation

February 8, 2021

Healthcare Services

WELL Health Technologies announced an agreement to acquire all outstanding shares of CRH Medical Corporation for approximately US$292.7M in equity (US$4.00 per share) plus assumed debt, funded by a C$295.5M equity private placement led by Mr. Li Ka-shing and committed credit facilities. The acquisition gives WELL immediate scale in the U.S. healthcare market via CRH's anesthesia services across 69 ASCs and GI clinics, a network of ~3,200 gastroenterologists, and a patented medical device (the CRH O'Regan System), while materially improving WELL's revenue and cash-flow profile.

WELL Health (via CRH Medical) Acquires CarePlus Management

July 13, 2023

Healthcare Services

WELL Health Technologies’ wholly owned subsidiary CRH Medical has completed the acquisition of Atlanta-based CarePlus Management, adding CarePlus’s RADAR recruitment/locum tenens staffing, anesthesia services across ASCs, and Premier Choice revenue cycle management capabilities to CRH’s portfolio. The deal expands CRH’s U.S. anesthesia footprint, adds provider recruitment and RCM capabilities, and increases WELL’s 2023 revenue guidance.

WELL / CRH Medical Acquires 85% Stake in New England Anesthesia Associates

May 1, 2021

Healthcare Services

WELL Health Technologies' wholly owned subsidiary CRH Medical Corporation acquired an 85% stake in New England Anesthesia Associates LLC, expanding CRH's anesthesia footprint into Connecticut. NEAA provides anesthesia services to an ambulatory surgical center in Guilford, Connecticut, has an estimated annualized revenue run-rate of approximately US$3.6 million with ~40% operating EBITDA margins, and adds 17 practitioners to CRH's network; the transaction was completed at under 5x trailing operating EBITDA.

WELL Health Acquires ExecHealth Inc.

April 8, 2021

Healthcare Services

WELL Health Technologies Corp. agreed to acquire all issued and outstanding shares of ExecHealth Inc., an Ottawa-based omni-channel provider of primary, corporate and executive health services. The deal consideration includes CA$6.52M cash, CA$4.21M in WELL common shares and a performance-based earn-out of up to CA$1.89M; the transaction expands WELL's clinical footprint into Ontario and its premium corporate/executive health offering.