HEALWELL Signs $50M Credit Agreement Led by Scotiabank and RBC to Support Orion Acquisition, and Commences Pre-Closing Procedures
HEALWELL AI Inc. (TSX: AIDX, OTCQX: HWAIF) has secured a $50 million credit agreement to support its acquisition of Orion Health. The credit facility, led by Scotiabank and RBC, includes a $20 million term loan and a $30 million revolving credit facility, with an additional uncommitted accordion feature of up to $25 million.
Combined with recent subscription receipt financings, HEALWELL has arranged over $100 million in total financing for the Orion Health acquisition. The company has initiated the pre-closing reorganization process by advancing NZD$5 million to the vendor, targeting a closing date of April 1, 2025.
Orion Health is a global Healthcare Intelligence Platform serving approximately 150 million lives across 11 countries. The acquisition will expand HEALWELL's footprint in preventative care and AI-driven healthcare solutions, particularly strengthening its presence in the public sector through Orion's government relationships.
HEALWELL AI Inc. (TSX: AIDX, OTCQX: HWAIF) ha ottenuto un accordo di credito di 50 milioni di dollari per supportare l'acquisizione di Orion Health. Il finanziamento, guidato da Scotiabank e RBC, include un prestito a termine di 20 milioni di dollari e una linea di credito revolving di 30 milioni di dollari, con una caratteristica di accordion non impegnata fino a 25 milioni di dollari.
Combinato con i recenti finanziamenti tramite ricevute di sottoscrizione, HEALWELL ha organizzato oltre 100 milioni di dollari in totale per l'acquisizione di Orion Health. L'azienda ha avviato il processo di riorganizzazione pre-chiusura anticipando 5 milioni di dollari neozelandesi al venditore, con l'obiettivo di chiudere entro il 1 aprile 2025.
Orion Health è una piattaforma globale di Intelligenza Sanitaria che serve circa 150 milioni di persone in 11 paesi. L'acquisizione espanderà la presenza di HEALWELL nella cura preventiva e nelle soluzioni sanitarie guidate dall'IA, rafforzando in particolare la sua presenza nel settore pubblico attraverso le relazioni governative di Orion.
HEALWELL AI Inc. (TSX: AIDX, OTCQX: HWAIF) ha conseguido un acuerdo de crédito de 50 millones de dólares para apoyar su adquisición de Orion Health. La instalación de crédito, liderada por Scotiabank y RBC, incluye un préstamo a plazo de 20 millones de dólares y una línea de crédito revolvente de 30 millones de dólares, con una característica de accordion no comprometida de hasta 25 millones de dólares.
Combinado con los recientes financiamientos de recibos de suscripción, HEALWELL ha organizado más de 100 millones de dólares en financiamiento total para la adquisición de Orion Health. La empresa ha iniciado el proceso de reorganización previa al cierre anticipando 5 millones de dólares neozelandeses al vendedor, con una fecha de cierre prevista para el 1 de abril de 2025.
Orion Health es una plataforma global de Inteligencia Sanitaria que atiende aproximadamente a 150 millones de vidas en 11 países. La adquisición ampliará la huella de HEALWELL en el cuidado preventivo y en soluciones de salud impulsadas por IA, fortaleciendo particularmente su presencia en el sector público a través de las relaciones gubernamentales de Orion.
HEALWELL AI Inc. (TSX: AIDX, OTCQX: HWAIF)는 5천만 달러 신용 계약을 확보하여 Orion Health 인수를 지원합니다. 스코샤뱅크와 RBC가 주도하는 이 신용 시설은 2천만 달러의 기간 대출과 3천만 달러의 회전 신용 시설을 포함하며, 최대 2천5백만 달러의 추가 비약정 Accordion 기능이 있습니다.
최근의 구독 영수증 자금을 결합하여 HEALWELL은 Orion Health 인수를 위해 총 1억 달러 이상의 자금을 마련했습니다. 회사는 매도인에게 5백만 뉴질랜드 달러를 선지급하여 폐쇄 전 재조직 프로세스를 시작했으며, 2025년 4월 1일을 목표로 하고 있습니다.
Orion Health는 11개국에서 약 1억5천만 명의 생명을 지원하는 글로벌 건강 관리 인텔리전스 플랫폼입니다. 이번 인수는 HEALWELL의 예방 치료 및 AI 기반 건강 관리 솔루션의 입지를 확장하고, 특히 Orion의 정부 관계를 통해 공공 부문에서의 존재감을 강화할 것입니다.
HEALWELL AI Inc. (TSX: AIDX, OTCQX: HWAIF) a obtenu un accord de crédit de 50 millions de dollars pour soutenir son acquisition de Orion Health. La facilité de crédit, dirigée par Scotiabank et RBC, comprend un prêt à terme de 20 millions de dollars et une facilité de crédit renouvelable de 30 millions de dollars, avec une fonctionnalité d'accord non engagée allant jusqu'à 25 millions de dollars.
Combiné avec des financements récents par reçus de souscription, HEALWELL a organisé plus de 100 millions de dollars de financement total pour l'acquisition d'Orion Health. L'entreprise a lancé le processus de réorganisation avant la clôture en avançant 5 millions de dollars néo-zélandais au vendeur, visant une date de clôture au 1er avril 2025.
Orion Health est une plateforme mondiale d'intelligence sanitaire servant environ 150 millions de vies dans 11 pays. L'acquisition élargira l'empreinte de HEALWELL dans les soins préventifs et les solutions de santé pilotées par l'IA, renforçant particulièrement sa présence dans le secteur public grâce aux relations gouvernementales d'Orion.
HEALWELL AI Inc. (TSX: AIDX, OTCQX: HWAIF) hat eine Kreditvereinbarung über 50 Millionen Dollar gesichert, um die Übernahme von Orion Health zu unterstützen. Die Kreditfazilität, die von Scotiabank und RBC geleitet wird, umfasst ein Darlehen über 20 Millionen Dollar und eine revolvierende Kreditfazilität über 30 Millionen Dollar, mit einer zusätzlichen nicht verpflichtenden Accordion-Funktion von bis zu 25 Millionen Dollar.
Kombiniert mit den jüngsten Finanzierungen durch Zeichnungsscheine hat HEALWELL über 100 Millionen Dollar an Gesamtkapital für die Übernahme von Orion Health organisiert. Das Unternehmen hat den Prozess der Umstrukturierung vor dem Abschluss eingeleitet, indem es dem Verkäufer 5 Millionen neuseeländische Dollar vorab gezahlt hat, mit dem Ziel, am 1. April 2025 abzuschließen.
Orion Health ist eine globale Plattform für Gesundheitsintelligenz, die etwa 150 Millionen Menschen in 11 Ländern dient. Die Übernahme wird HEALWELLs Präsenz im Bereich der präventiven Pflege und KI-gesteuerten Gesundheitslösungen erweitern und insbesondere die Präsenz im öffentlichen Sektor durch die Regierungsbeziehungen von Orion stärken.
- Secured $50M credit facility from major Canadian banks, demonstrating institutional confidence
- Total financing of over $100M arranged for acquisition
- Acquisition expands reach to 150 million lives across 11 countries
- Strategic expansion into public sector through government relationships
- Strengthens healthcare data infrastructure capabilities
- Significant debt burden with $50M credit agreement
- Non-refundable NZD$5M advance payment risk if deal fails
- Complex integration process ahead with international operations
- HEALWELL has signed a
$50 million credit agreement, contingent on and in support of its acquisition of Orion Health, with credit to be provided by a syndicate of Schedule I Canadian Banks, including The Bank of Nova Scotia as Sole Bookrunner, Admin Agent, and Co-Lead Arranger, and Royal Bank of Canada as Co-lead Arranger. - The credit agreement also provides for an additional uncommitted future accordion feature of up to
$25 million . - Between this credit agreement and the capital raised through the Company's recently completed subscription receipt financings, the Company has financing arrangements for over
$100 million in place to support its acquisition of Orion Health. - HEALWELL and the vendor have delivered a trigger notice under the share purchase agreement for Orion Health and HEALWELL has advanced an initial NZD
$5 million to the vendor, commencing the pre-closing reorganization process with a target closing date of April 1, 2025.
Toronto, Ontario--(Newsfile Corp. - March 10, 2025) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL" or the "Company"), a healthcare artificial intelligence company focused on preventative care, is pleased to announce that it has entered into a
The Credit Agreement provides for a
Between the Credit Agreement and the capital raised in the Company's recently completed subscription receipt financings, the Company has financing arrangements for over
Anthony Lam, CFO of HEALWELL, commented, "We are pleased to announce this significant milestone for HEALWELL as we look to close on our announced acquisition of Orion Health. Securing this credit facility will solidify our balance sheet and provide us with the financial stability needed to execute on our strategic growth initiatives. It is particularly validating to have the support of two top tier Canadian banks, Scotiabank and RBC, who recognize the strength of our business and our strategic direction. We would like to thank our new financial partners as their backing reinforces our ability to execute on our strategic vision and we are excited about the opportunities this financing unlocks for our company."
With the delivery of the trigger notice, all conditions precedent to closing the acquisition under the Share Purchase Agreement have been satisfied or waived by the Company and the Vendor, other than those relating to the successful completion of the pre-closing reorganization and payment of the purchase price.
Dr. Alexander Dobranowski, the CEO of HEALWELL, commented, "We are very pleased to have mutually agreed to triggering the mechanical closing process with Orion and look forward to updating our shareholders on or around April 1st on the close of our transaction and welcoming the Orion team to the HEALWELL family. This is a major step for HEALWELL and we truly appreciate the tremendous support we've received from investors on this important transaction."
Orion Health is a leader in global healthcare technology, with over 70 worldwide customers in 11 countries. Orion Health's software solutions currently serve a population approaching 150 million lives globally; which will materially expand HEALWELL's footprint to execute against its mission of early disease detection. The acquisition of Orion Health will provide HEALWELL with a significant multi-jurisdictional platform to deliver its best-in-class AI-driven solutions by integrating them with Orion Health's advanced healthcare data infrastructure capabilities. The acquisition will also significantly scale HEALWELL's platform by deepening its penetration into the public sector, supported by Orion Health's long-standing government relationships and broader customer base.
Dr. Alexander Dobranowski
Chief Executive Officer
HEALWELL AI Inc.
About HEALWELL AI
HEALWELL is a healthcare artificial intelligence company focused on preventative care. Its mission is to improve healthcare and save lives through early identification and detection of disease. Using its own proprietary technology, the Company is developing and commercializing advanced clinical decision support systems that can help healthcare providers detect rare and chronic diseases, improve efficiency of their practice and ultimately help improve patient health outcomes. HEALWELL is executing a strategy centered around developing and acquiring technology and clinical sciences capabilities that complement the Company's road map. HEALWELL is publicly traded on the Toronto Stock Exchange under the symbol "AIDX" and on the OTC Exchange under the symbol "HWAIF". To learn more about HEALWELL, please visit https://healwell.ai/.
Forward-Looking Statements
Certain statements in this press release, constitute "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, including statements about the anticipated completion of the acquisition of Orion Health by the Company; and the anticipated impact of the acquisition of Orion Health on the Company's business, its technology and service offerings, and its access to new customers and markets; and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-Looking statements are often, but not always, identified by words or phrases such as "contingent on", "to support", "proposed", "target", "look to" or variations of such words and phrases or statements that certain future conditions, actions, events or results "will", "may", "could", "would", "should", "might" or "can" be taken, occur or be achieved, or the negative of any of these terms. Forward-Looking statements are necessarily based upon management's perceptions of historical trends, current conditions and expected future developments, as well as a number of specific factors and assumptions that, while considered reasonable by HEALWELL as of the date of such statements, are outside of HEALWELL's control and are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in the forward-looking statements ultimately being entirely or partially incorrect or untrue. Forward-Looking statements contained in this press release are based on various assumptions, including, but not limited to, the following: the ability of HEALWELL, the Vendor and Orion Health to successfully complete the pre-closing reorganization, or to complete it on the terms and timelines presently contemplated by the parties; HEALWELL's ability to satisfy any remaining conditions precedent to completing the acquisition of Orion Health; HEALWELL's ability to satisfy the conditions necessary to secure the release of financing under the credit facility and its previously completed subscription receipt financings; HEALWELL's ability to successfully integrate Orion Health's business, technologies, customers and personnel with its own; the continued adoption of the software, tools and solutions created by HEALWELL; that HEALWELL will be successful in identifying, executing and integrating new acquisitions, investments and/or partnerships; the stability of general economic and market conditions; sufficiency of working capital and access to financing; HEALWELL's ability to comply with applicable laws and regulations; HEALWELL's continued compliance with third party intellectual property rights; the effects of competition in the industry; the requirement for increasingly innovative product solutions and service offerings; technologies working as intended or at all; trends in customer growth and the adoption of new technologies in the industry; and that the risk factors noted below, collectively, do not have a material impact on HEALWELL's business, operations, revenues and/or results. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved.
Known and unknown risk factors, many of which are beyond the control of HEALWELL, could cause the actual results of HEALWELL to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. Such risk factors include but are not limited to those factors which are discussed under the section entitled "Risk Factors" in HEALWELL's most recent annual information form dated April 1, 2024, which is available under HEALWELL's SEDAR+ profile at www.sedarplus.ca. The risk factors are not intended to represent a complete list of the factors that could affect HEALWELL and the reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-Looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. HEALWELL disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. All of the forward-looking statements contained in this press release are qualified by these cautionary statements.
For more information:
Pardeep S. Sangha
Investor Relations, HEALWELL AI Inc.
Phone: 604-572-6392
ir@healwell.ai
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243922
FAQ
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