Sat Sep 07 00:49:00 UTC 2024: – Well Health Technologies Corp. is splitting into two entities to entice new investors and individually trade on the Toronto Stock Exchange.
– The company has seen rapid growth, with 2,265.2% revenue growth between 2019 and 2023.
– Revenue is expected to reach between $970 million and $990 million this fiscal year.
– The company operates medical clinics and sells health and office management technologies.
– Well Health has made over 80 acquisitions and seen significant organic growth.
– One of the acquisitions was acquiring a 53% stake in Wisp Inc. for up to US$51 million.
– Well Health’s biggest acquisitions in 2021 included the US$372.9 million transaction to buy CRH Medical Corp. and the $206 million deal to buy MyHealth Partners Inc.
– Well Health anticipates splitting into two entities, with the medical-clinic division owning a majority stake in the technology company.
– The plan will allow investors to buy shares in the technology company separately from the patient-care business.
– Well Health founder learned from previous experience leading TIO Networks not to have large companies as customers with long sales cycles.

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