- WELL Health Technologies Corp. (WELL) has agreed to acquire the assets of INLIV Inc. for $1.6 million
- WELL can pay the amount owed in cash, shares, or a combination of both
- The deal also includes a 120-day general holdback amount of $240,375
- INLIV stated it has revenues of $7.3 million and double-digit adjusted EBITDA margins
- WELL Health (WELL) Stock price is up 0.95 per cent and is trading at $3.20 per share as of 2:12 p.m. ET
Digital health company, WELL Health Technologies (WELL), has agreed to acquire the assets of INLIV Inc. for $1.6 million.
INLIV is a Calgary-based healthcare provider specializing in consumer preventative health, primary care, cosmetics, fitness, and integrated health services.
WELL will pay the amount owed in cash, shares, or a combination of both, subject to customary closing and post-closing adjustments. The deal also includes a 120-day general holdback amount of $240,375 under the same circumstances.
The agreement still requires the approval of INLIV’s sole shareholder, Coril Holdings Ltd. The transaction is expected to close during the third fiscal quarter of this year.
“INLIV has an excellent track record in providing outstanding patient care… this planned acquisition represents the continued execution of our plans to further grow our presence in the premium corporate and executive health segment… to establish our technology enabled clinical group across the country,” Dr. Michael Frankel, WELL’s CMO, said.
INLIV employs more than 50 people, including 23 care providers and clinicians providing care to more than 1,000 clients.
From its latest records, INLIV stated it had revenues of approximately $7.3 million and double-digit adjusted EBITDA margins. Greater than 85 per cent of its revenues are attributable to recurring membership fees.
WELL Health Technologies Corp. (WELL) is up 0.95 per cent and is trading at $3.20 per share as of 2:12 p.m. ET.