On February 14, 2022, LifeSpeak Inc. (“LifeSpeak” or the “Company”) (TSX: LSPK), the leading mental health and total wellbeing platform for employers, health plans, and insurance companies, announced that it signed a definitive agreement to acquire US-based Wellbeats Inc. (“Wellbeats”) for up to US$92.5 million. Wellbeats, a Minnesota-based market-leading provider of an on-demand, software-as-a-service (“SaaS”) physical wellbeing platform, serves a diverse client base of 400+ US and international enterprise clients. With a combined 30 years of experience as respective leaders in digital health education and physical wellbeing, the acquisition supercharges LifeSpeak’s ability to meet rapidly growing demand from organizations for a comprehensive, single-vendor solution to meet mental and physical health support needs.
The acquisition significantly expands and diversifies the SaaS-based behavioural health and physical wellbeing solutions that LifeSpeak can offer its customers and partners. On completion, this will be LifeSpeak's fourth acquisition following its IPO in July of 2021.
Fasken advised LifeSpeak in connection with this transaction and related financing arrangements with a team that included Gordon Raman, Justine Connors, Taisha Lewis, Dev Singh, Lu Chen, Gordon Lee (Articling Student) and Stephen Wightman (Law Clerk).