On February 3, 2020, WELL Health Technologies Corp. (TSX:WELL) (“WELL”) completed the acquisition of privately-owned Oscarservice Inc. dba Trinity Healthcare Technologies (“THT”) in a deal worth about C$7.2 million. WELL paid about C$4.7 million in cash upon closing, C$1.4 million in WELL shares and a time-based earn-out payment worth C$1.1 million, which would be paid in quarterly installments over two years. The deal was financed with cash on hand.
Vancouver-based WELL operates primary healthcare facilities as well as a significant Electronic Medical Records (EMR) business that supports the digitization of such clinics. WELL wholly owns and operates nineteen medical clinics, is a majority owner of one medical clinic and provides digital EMR software.
THT is Canada’s second largest OSCAR EMR service provider. OSCAR is an acronym for “Open Source Clinical Application Resource”, an open-source EMR system.
Fasken advised WELL with a team that was led by Will Shaw (M&A) and included Martin Ferreira Pinho (M&A).
