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WELL Health Expands into Québec with the acquisition of ExcelleMD

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WELL Health Technologies

On December 8, 2020, WELL Health Technologies Corp, a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, announced the acquisition of all the issued and outstanding shares of ExcelleMD Inc., a leader in omni-channel integrated primary care, executive health and aesthetic services, and its affiliate VirtuelMED Inc.

For this acquisition, WELL Health paid $4,500,000 in cash on the closing date; issued $2,250,000 in WELL common shares at a deemed price of $6.905 per WELL common share on the closing date; agreed to pay the majority of the $1,500,000 holdback amount  in cash within 120 days of the closing date; and agreed to pay a multi-year performance earn-out that may also be paid in WELL common shares.

This transaction marks WELL’s entry into the province of Québec as well as higher margin corporate and executive health services. Québec is a large market opportunity for WELL and ExcelleMD is intended to be a foundational acquisition for their expansion into Eastern Canada and WELL’s entry into corporate and executive health services.

A Fasken team composed of Constantinos Ragas, Dan Su, Chris Semerjian, Nathalie-Anne Béliveau and Rhonda Grintuch advised WELL Health Technologies Corp. in connection with this acquisition.



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