Well Health signs deal to buy MyHealth Partners in deal worth up to $266.3M
Posted June 7, 2021 6:37 am.
Last Updated June 7, 2021 6:47 am.
VANCOUVER — Well Health Technologies Corp. has signed an agreement to buy MyHealth Partners Inc. in a deal worth up to $266.3 million.
The company says the addition of MyHealth will make it the largest owner-operator of outpatient medical clinics in Canada.
MyHealth provides primary care, specialty care, telehealth services and diagnostic health services in Ontario.
It was founded in 2013 and has 48 locations in Ontario.
Under the deal, Well will pay $82 million in cash, $94.3 million in shares at a deemed price per share of $9.80 and $30 million in convertible promissory notes.
Well has also agreed to a four-year performance-based earn-out worth up to an additional $60 million in cash, shares or a combination of both at Well’s discretion.
This report by The Canadian Press was first published June 7, 2021.
Companies in this story: (TSX:WELL)
The Canadian Press
