WELL Health Completes Acquisition of Jack Nathan Health's Canadian Clinical Assets Begins to Operate Clinics at Wal-Mart with Intent to Grow Network, and Improve Accessibility to Quality Healthcare Across Canada
WELL Health Technologies has completed the acquisition of Jack Nathan Medical's Canadian clinical assets, including 13 owned and operated clinics generating over $9M in revenue, and 59 licensee clinics contributing $2.2M in annual high-margin revenue. The owned clinics are expected to be EBITDA-positive within 12 months. Through agreements with Walmart Canada, WELL gains potential expansion opportunities across Walmart's 400+ locations. The acquired clinics will be rebranded as WELL Health Medical Centres, incorporating WELL's tech-enabled healthcare approach. The licensee clinics will form WELL's new 'Affiliate Clinic' business model, allowing healthcare providers to operate independently while leveraging WELL's infrastructure.
WELL Health Technologies ha completato l'acquisizione degli asset clinici canadesi di Jack Nathan Medical, che includono 13 cliniche di proprietà e gestite che generano oltre 9 milioni di dollari di fatturato, e 59 cliniche in licenza che contribuiscono con 2,2 milioni di dollari di fatturato annuale ad alta marginalità. Le cliniche di proprietà si prevede che raggiungano un EBITDA positivo entro 12 mesi. Attraverso accordi con Walmart Canada, WELL ottiene potenziali opportunità di espansione in oltre 400 località Walmart. Le cliniche acquisite saranno riqualificate come WELL Health Medical Centres, integrando l'approccio sanitario tecnologico di WELL. Le cliniche in licenza formeranno il nuovo modello di business 'Affiliate Clinic' di WELL, consentendo ai fornitori di assistenza sanitaria di operare in modo indipendente sfruttando l'infrastruttura di WELL.
WELL Health Technologies ha completado la adquisición de los activos clínicos canadienses de Jack Nathan Medical, que incluyen 13 clínicas de propiedad y operación que generan más de 9 millones de dólares en ingresos, y 59 clínicas licenciadas que contribuyen con 2,2 millones de dólares en ingresos anuales de alto margen. Se espera que las clínicas de propiedad sean EBITDA-positivas en un plazo de 12 meses. A través de acuerdos con Walmart Canada, WELL obtiene oportunidades potenciales de expansión en más de 400 ubicaciones de Walmart. Las clínicas adquiridas se rebrandean como WELL Health Medical Centres, incorporando el enfoque de atención médica habilitado por tecnología de WELL. Las clínicas licenciadas formarán el nuevo modelo de negocio 'Affiliate Clinic' de WELL, permitiendo a los proveedores de atención médica operar de manera independiente mientras aprovechan la infraestructura de WELL.
WELL Health Technologies는 Jack Nathan Medical의 캐나다 임상 자산을 인수했습니다. 여기에는 1300만 달러 이상의 수익을 창출하는 13개의 소유 및 운영 클리닉과 연간 220만 달러의 높은 수익을 기여하는 59개의 라이센스 클리닉이 포함됩니다. 소유 클리닉은 12개월 이내에 EBITDA 긍정적인 결과를 가져올 것으로 예상됩니다. Walmart Canada와의 협약을 통해 WELL은 400개 이상의 Walmart 매장에서의 잠재적 확장 기회를 얻게 됩니다. 인수된 클리닉은 WELL Health Medical Centres로 리브랜딩되며, WELL의 기술 기반 의료 접근 방식을 통합할 것입니다. 라이센스 클리닉은 WELL의 새로운 'Affiliate Clinic' 비즈니스 모델을 구성하여, 의료 제공자가 WELL의 인프라를 활용하면서 독립적으로 운영할 수 있도록 합니다.
WELL Health Technologies a finalisé l'acquisition des actifs cliniques canadiens de Jack Nathan Medical, comprenant 13 cliniques détenues et exploitées générant plus de 9 millions de dollars de revenus, et 59 cliniques licenciées contribuant à hauteur de 2,2 millions de dollars de revenus annuels à forte marge. Les cliniques détenues devraient être rentables en EBITDA dans un délai de 12 mois. Grâce à des accords avec Walmart Canada, WELL obtient des opportunités potentielles d'expansion dans plus de 400 emplacements Walmart. Les cliniques acquises seront rebrandées en tant que WELL Health Medical Centres, intégrant l'approche de soins de santé technologique de WELL. Les cliniques licenciées formeront le nouveau modèle commercial 'Affiliate Clinic' de WELL, permettant aux prestataires de soins de santé d'opérer de manière indépendante tout en s'appuyant sur l'infrastructure de WELL.
WELL Health Technologies hat die Übernahme der kanadischen klinischen Vermögenswerte von Jack Nathan Medical abgeschlossen, einschließlich 13 eigener und betriebene Kliniken, die über 9 Millionen Dollar Umsatz generieren, und 59 Lizenzkliniken, die jährlich 2,2 Millionen Dollar Umsatz mit hoher Marge beitragen. Die eigenen Kliniken sollen innerhalb von 12 Monaten EBITDA-positiv sein. Durch Vereinbarungen mit Walmart Canada erhält WELL potenzielle Expansionsmöglichkeiten in über 400 Walmart-Standorten. Die übernommenen Kliniken werden unter dem Namen WELL Health Medical Centres umbenannt, wobei WELLs technologiegestützter Gesundheitsansatz einfließt. Die Lizenzkliniken bilden das neue Geschäftsmodell 'Affiliate Clinic' von WELL und ermöglichen es den Gesundheitsdienstleistern, unabhängig zu agieren, während sie WELLs Infrastruktur nutzen.
- Acquisition of 13 owned clinics generating $9M+ in annual revenue
- 59 licensee clinics contributing $2.2M in high-margin annual revenue
- Owned clinics expected to be EBITDA-positive within 12 months
- Strategic partnership with Walmart Canada providing access to 400+ locations
- Launch of new high-margin Affiliate Clinic business model
- Owned clinics currently not EBITDA positive
- Reduction in number of owned clinics from initial announcement
- WELL has completed the acquisition of the Canadian clinical assets from Jack Nathan Medical Corp. including a network of 13 owned and operated clinics, which generated revenue of over
$9 million in the past 12 months. The portfolio of owned and operated clinics is expected to operate profitably on an adjusted EBITDA basis in 2025, following immediate synergies with WELL's shared services program and application of WELL's clinic transformation program. - WELL also acquired 59 licensee clinics that generate approximately
$2.2 million annually in high margin revenue and will become the model for WELL's new 'Affiliate Clinic' business stream. - WELL has also entered into various agreements with Walmart Canada that provide a framework to support the potential expansion of WELL's clinical network within Walmart Canada's footprint of over 400 locations over time.
- The acquired clinics will be rebranded as WELL Health Medical Centres, and will reflect WELL's tech enabled approach to delivering quality healthcare over time.
Hamed Shahbazi, Founder and CEO of WELL, commented "This acquisition marks another significant milestone for WELL as we expand our clinical footprint to include Walmart stores in
The Transaction includes a total of 72 clinics, comprising 13 owned and operated clinics and 59 licensee clinics. This represents a slight adjustment from the originally announced clinic counts, as some clinics initially categorized as owned and operated were transitioned to the licensee model prior to close. The owned and operated clinics collectively generated over
Dr. Michael Frankel, WELL's Chief Medical Officer, commented "We are very pleased to have begun operating healthcare clinics at Walmart stores across
The licensee clinics form the foundation of WELL's new primary care "Affiliate Clinic" business model. This model will allow WELL to generate high-margin rental income from clinics without directly managing their day-to-day operations. As WELL expands the Affiliate Clinic model, WELL plans to support these clinics by recruiting and placing physicians, providing comprehensive technology solutions, and offering operational support to help optimize performance. In the meantime, WELL will act as a property manager for these clinics to address operational needs. This scalable approach empowers healthcare providers to independently operate their clinics while benefiting from WELL's tools and infrastructure, aligning with WELL's mission to enhance clinic efficiency and support high-quality patient care.
The acquired clinics will be rebranded as WELL Health Medical Centres, and will reflect WELL's tech enabled approach to delivering quality healthcare.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies Corp.
WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 38,000 healthcare providers between the US and
Forward-Looking Statements
This news release contains "Forward-Looking Information" within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Transaction and the Company's goals, strategies and growth plans with respect to the operated and licensed clinics. Forward-Looking Information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe", "goal" or "continue", or the negative thereof or similar variations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information is not a guarantee of future results or performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including: that the revenue and margins generated by the new Affiliate Clinic model may be different than anticipated; that WELL's role in supporting the Affiliate Clinics may be different than anticipated; WELL's ability to successfully integrate the newly acquired clinics into its clinic network; WELL's ability to develop and maintain its commercial relationship with Wal-Mart Canada Corp.; direct and indirect material adverse effects from adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; litigation risk; that future results may vary from historical results; an inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at www.sedar.com, including its most recent Annual Information Form and its most recent Management, Discussion and Analysis. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
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SOURCE WELL Health Technologies Corp.
FAQ
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